Skilled Healthcare Group, Inc. (NYSE: SKH) announced last week that five of its indirect subsidiaries that operate skilled nursing facilities in northern California have entered into an agreement to transfer their operations to Brius Healthcare, LLC. The transfer of operations to Brius is expected to be completed in April 2011. A separate subsidiary of Skilled Healthcare Group will retain ownership of the real estate and has executed a 10-year lease with two 10-year extension options with Brius.
"We are pleased to have leased these properties to Brius Healthcare, a quality care provider who will continue striving for clinical excellence," noted Boyd Hendrickson, Chairman & Chief Executive Officer. "This is a positive development for us as it continues our effort to balance our portfolio."