ResCare (NASDAQ: RSCR), a leading provider of residential, training, therapeutic, educational and support services for people with barriers to employment and special needs, recently announced that it is re-branding its operations in the United Kingdom to better reflect expansion and diversification plans in the UK. In late 2007, ResCare purchased the workforce service operations of […]
Category: Stocks
LHC Group, Inc. (NASDAQ: LHCG), one of the largest providers of home nursing services in the United States, recently announced its financial results for the third quarter and nine months ended September 30, 2008. The company announced that net service revenue for the third quarter of 2008, increased 26.7% to $98.2 million compared with $77.5 […]
Health Care REIT, Inc. (NYSE:HCN) announced last week that it has terminated its previously announced agreement with an affiliate of Arcapita, Inc. to acquire the affiliate’s 90% interest in a venture owning 29 senior housing properties managed by Sunrise Senior Living, Inc. (NYSE:SRZ). “We performed extensive due diligence and appreciate the cooperation and assistance provided […]
LHC Group, Inc. (NASDAQ: LHCG), one of the largest providers of home nursing services in the United States, announced today that it has entered into a definitive Stock Purchase Agreement to acquire 100% of the outstanding capital stock of HomeCall, Inc., located in the certificate of need (CON) state of Maryland. HomeCall is headquartered in […]
Emeritus Corporation (NYSE: ESC), a national provider of assisted living and related services to senior citizens, announced today that it has closed on the balance of a previously announced purchase of 29 communities from Health Care REIT, Inc. (NYSE: HCN) and affiliates. The communities were formerly operated by Emeritus under long-term leases. The initial closing […]
Brookdale Senior Living (NYSE: BKD) shares took a nose dive last week over concerns about their levels of debt. With the market rising today almost 1000 points, BKD’s shares ended the day lower. Not exactly a vote of confidence when almost 90% of the NYSE stocks traded higher. Even though Fortress Investment Group, a large […]
HCP (NYSE:HCP) announced that it has placed $140 million of 5-year secured debt on four of its senior housing assets and $179 million of 8-year secured debt on 12 of its senior housing assets. The assets are cross- collateralized and the debt has a weighted average interest rate of 6.39%. Fannie Mae purchased the secured […]
TheStreet.com posted a video interview with Granger Cobb, CEO of Emeritus Corp. and he tries to explain why he thinks the senior housing business is ignoring the market’s turmoil. The piece discusses that Emeritus is only down 5% this year, which is better than the broader market. Cobb states that moves by seniors into their […]
Sunrise Senior Living (SRZ) was added to the list of stocks that are not permitted to be shorted last week and it does not seem to have had any effect on the share price as it dropped last week. The stock dropped from 15.42 on September 29 to 13.40 on October 3rd. So much for […]
Companies to co-develop and distribute telecare and remote monitoring offerings GE Healthcare, a unit of General Electric Company (NYSE:GE), announced today that it has entered into a distribution and technology collaboration agreement with Living Independently Group, Inc. a leading provider of telecare and passive monitoring systems used to assist in the care of seniors. GE […]
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