Canadian firm agrees to buy Skilled Healthcare for $750 million

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Toronto-based Onex. Corp. said this week it plans to acquire Skilled Healthcare Group, an operator of long-term care facilities in the western United States, for about $750 million.

Skilled Healthcare's subsidiaries operate a total of 70 skilled nursing and assisted living facilities in California, Texas, Kansas and Nevada. This is the sixth healthcare business Onex has acquired or invested in since the beginning of 2004.

The deal is expected to close before the end of the year or in early 2006.

One of Canada's largest companies, Onex has global operations in service, manufacturing and technology industries. Operating companies include Magellan Health Services Inc., Cineplex Entertainment LP and Res-Care Inc. (Published on 10-26-05)