AdCare Health Systems, Springfield, Ohio, announced a $16 million deal to acquire five Oklahoma skilled-nursing facilities.
AdCare Health to buy five Okla. skilled-nursing sites
The deal, which is expected to close in early 2012, follows a string of acquisition or leasing deals that have expanded its operations by more than 2,700 beds, according to the company, including the $20 million deal in September for Arkansas skilled-nursing facilities.
A Small Business Administration loan will finance AdCare Health's deal for the four Oklahoma facilities, which operate 357 beds combined with $15 million in total yearly revenue, AdCare said in a news release.
Chris Brogdon, AdCare's vice chairman and chief acquisitions officer, said in the release the Oklahoma deal fit into the company's strategy to expand south.
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