Assisted Living Concepts, Inc. (NYSE:ALC), which operates 210 senior living residences in 20 states, announced today that it has agreed to be acquired by TPG, a global private investment firm. Under the agreement, ALC stockholders will receive $12.00 in cash for each share of Class A common stock, and holders of Class B common stock […]
Assisted Living Concepts
After a $4 million loss in the third quarter in 2012 and a stock value marred by a damaged reputation and far below its 2006 debut level, Assisted Living Concepts (NYSE:ALC) may be on the road to privatization. The troubled assisted living operator is strategizing a turnaround, but due to the company’s dual class structure […]
Assisted Living Concepts (NYSE:ALC) posted a $4 million loss in the third quarter ended Sept. 30, 2012, compared to a net income of $5.8 million one year previously. Were it not for a slew of One Time Items in the quarter and the nine months ended Sept. 30, ALC’s third-quarter net loss would have been […]
Assisted Living Concepts (NYSE:ALC) reported a net loss of $25.1 million in the second quarter ended June 30, 2012, a dramatic fall from its $6.3 million net income reported one year ago that’s due to charges related to purchasing a 12-property portfolio from Ventas Realty, among other factors listed as “One-Time Items.” The operating company […]
Here’s a list of possible turnaround opportunities for senior care facilities, ranging from troubled facilities that have lost Medicare/Medicaid licensing, to ones that have been shut down by the state, to places that may need to close their doors for financial reasons. 1. From WSBTV.com (Georgia)—State Seeks to Shut Down Personal Care Facility Name: Tara Plantation […]
The interim CEO of assisted living community owner/operator Assisted Living Concepts (NYSE:ALC) spoke out about his company’s recent troubles during a conference call with Wall Street analysts and an interview with company stakeholders, stating his intention to fix the company’s problems. Charles Roadman II, a physician and retired lieutenant general for the U.S. Airforce, was […]
Healthcare real estate investment trust Ventas, Inc. (NYSE:VTR) announced on Monday that it has sold 12 senior housing communities to operator Assisted Living Concepts, Inc. (NYSE:ALC) for $100 million in cash. ALC had been the tenant for these communities. Its leases with Ventas were terminated at the transaction closing, and the REIT no longer owns […]
Summer is starting to heat up along with the job opportunities and movement in senior housing. This week’s movers and shakers are a veritable list of jalapenos, hopping and hot. Interested in a change of scenery? SHN’s job board is chock-full of opportunities for new adventures. For employers, SHN’s senior living jobs (link SLJ to […]
Late Tuesday afternoon, troubled senior living operator Assisted Living Concepts, Inc. (NYSE:ALC) named Lt. General USAF (Ret.) Charles Roadman II, M.D., as its interim president and CEO. Assisted Living Concepts’ board fired former president and CEO Laurie Bebo, reports Bloomberg Businesweek, which cited an unnamed spokesperson as saying the board “thought it was time for […]
Here’s a list of possible turnaround opportunities for senior care facilities, ranging from troubled facilities that have lost or may lose Medicare/Medicaid licensing, to ones that have been shut down by the state, to places that plan to close their doors voluntarily for various reasons. This edition also includes five facilities in one Wisconsin county […]
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