Healthcare Business News

National HealthCare acquires six skilled-nursing centers

By Beth Kutscher
Posted: December 28, 2012 - 2:45 pm ET

National HealthCare Corp., Murfreesboro, Tenn., has bought six skilled-nursing centers from National Health Investors, a healthcare REIT, in a $21 million deal.

NHC also noted that it has extended its master lease with the REIT on an additional 38 skilled-nursing centers and three independent-living centers. The extension will run through Dec. 31, 2026.

The deal for the six skilled-nursing centers—four in Tennessee, one in Kentucky and one in Georgia—is expected to close on Dec. 31, 2013, according to a news release. The publicly traded company has been leasing the facilities, which have a total of 650 beds. As a result of the purchase, NHC expects its annual lease payment to decrease by $2.95 million.

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The company, which has a market capitalization of $655 million, operates about 75 long-term-care centers, as well as 37 home-care programs, 17 assisted-living communities and six independent-living centers, according to its website.

It recently reported a 3.9% decline in revenue for the third quarter ended Sept. 30 to $189.4 million.

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