SHG Services, Inc. ("New Sun") (NASDAQ: SUNHD), announced that it has completed the separation of its operating assets and real estate assets into two separate publicly traded companies. The split spun off the real estate assets into Sabra Health Care REIT, Inc. and the operating assets will operating under the existing name Sun Healthcare Inc. New Sun’s common stock is listed on The NASDAQ Stock Market LLC and will trade on the NASDAQ Global Select Market under the symbol "SUNHD" until Dec. 15, 2010. Beginning Dec. 15, 2010, New Sun’s common stock will trade on the NASDAQ Global Select Market under the symbol "SUNH."
William A. Mathies, chief operating officer for the operating company, was appointed New Sun’s chairman and chief executive officer. Mr. Mathies leads the New Sun management team, which, except for the departure of Richard K. Matros, remains unchanged. Mr. Mathies remarked, "I look forward to continuing to work with our proven management team in delivering quality care and services to our patients and residents, growing our businesses and creating value for our stockholders."
