AdCare (ADK) Completes $12.5M Acquisition of Ohio Assisted Living Community
Tweet
Share
E-mailGet Alerts ADK Hot Sheet
Join SI Premium – FREE
AdCare Health Systems, Inc. (AMEX: ADK), has completed the previously announced agreement to purchase a skilled nursing and assisted living community in Ohio. The final purchase price was $12.5 million -- $1.0 million less than the initial purchase agreement -- with the effective closing date of December 30, 2011.
The community has 179 beds in service and generates an estimated $12 million in gross annualized revenues according to its most recent financials. Its addition is expected to be immediately accretive to AdCare's earnings.
AdCare will finance the acquisition of the assisted living facility with a 30-year, fixed-rate, tax-exempt bond issuance, and financed the skilled nursing facility with a traditional bank loan.
The community has 179 beds in service and generates an estimated $12 million in gross annualized revenues according to its most recent financials. Its addition is expected to be immediately accretive to AdCare's earnings.
AdCare will finance the acquisition of the assisted living facility with a 30-year, fixed-rate, tax-exempt bond issuance, and financed the skilled nursing facility with a traditional bank loan.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
- Bernstein SocGen on Meta Platforms Inc. (META): 'Risk-reward remains attractive'
- BofA maintains underperform ratings on six BDC stocks
Create E-mail Alert Related Categories
Corporate News, Mergers and AcquisitionsRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
