Sun completes company split, looks to acquire businesses
Sun Healthcare Group Inc., a major nursing home chain, recently completed its corporate split, which separates its real estate holdings from its nursing operations.
William A. Mathies, former president of SunBridge Healthcare Corp., an inpatient services subsidiary of Sun, is the CEO of the operating company. Rick Matros, formerly Sun chairman and CEO, is chairman and CEO of Sabra Health Care REIT.
The company will look to purchase more nursing homes and ancillary businesses, Mathies said, according to a news report in the Orange County Business Journal. Sun last year bought Allegiance Hospice Group Inc., a privately held company in Lowell, MA. In 2007, it bought Boston-based nursing home operator Harborside Healthcare Corp. for $375 million.
“I think you'll see us getting back into the acquisition mode,” Mathies said, according to the publication.