Carlyle Plans IPO for HCR ManorCare, Value of $2 Billion

The Carlyle Group has plans to take HCR ManorCare public in an offering that could raise roughly $500 million according to a report from Reuters.

Citing unnamed sources, the IPO could give the nursing home and assisted living facility operator an enterprise value of up to $2 billion.

In 2007, Carlyle paid $4.9 billion for ManorCare, which at the time had nearly 60,000 employees and a network of more than 500 skilled nursing and rehabilitation centers, assisted living facilities, outpatient rehabilitation clinics, and hospice and home care agencies.


Late last year, Carlyle sold most of the ManorCare’s portfolio to HCP (NYSE:HCP) in a $6.1 billion sale and leaseback.

According to Reuters, the IPO should happen sometime after Labor Day.

The Carlyle Group recently acquired a 203 unit independent living community in Fort Worth, Tx.


Exclusive: Carlyle’s HCR ManorCare readies $500 million IPO