BusinessBriefs for December 2014
» Omega Healthcare Investors is poised to own nearly 875 skilled nursing properties across 41 states, following its merger with Aviv REIT in a $3 billion deal announced in November. The all-stock deal will create the nation's “premier publicly traded pure-play skilled nursing facility real estate investment trust,” the companies stated in joint press releases. The combination of the powerhouse REITs is just the latest mega-deal in the long-term care sector.
» Extendicare will sell nearly all of its U.S. operations to an investor group in an $870 million deal, the Canada-based long-term care company announced. The buyers are led by private equity firm Formation Capital LLC and an affiliate of Safanad Inc., a global principal investment firm. Extendicare has roughly 160 U.S. facilities. It will retain 10 skilled nursing centers.
» Kindred Healthcare has chosen a new top executive. Benjamin A. Breier, the company's current president and COO, will succeed Paul Diaz on March 31, 2015, the company announced in late October. Breier, 43, joined the firm in 2005. He said one goal is solidifying the company as a national brand.