Skilled Healthcare Group (SKH) Completes Acquisition of Skilled Nursing Facility, Sees Deal Accretive to 2008
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Skilled Healthcare Group, Inc. (NYSE: SKH) has completed the acquisition of a skilled nursing facility and an assisted living facility located in Wichita, Kansas. The $13.2 million acquisition, effective April 1, 2008, includes the real property, and assets of a 152 bed skilled nursing facility and an adjacent 34 unit assisted living facility. The Company expects the acquisition to be modestly accretive to earnings per share for the remainder of 2008.
The selling companies are affiliated with Missouri based Redman Resources, LLC and each facility will operate as a distinct subsidiary business. In 2007, selling companies collectively generated adjusted revenues of approximately $8.2 million.
Skilled Healthcare Group, Inc. is a provider of integrated healthcare services through its skilled nursing facilities and rehabilitation therapy business.[SM]
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