Manor Care, Inc. , through its operating group HCR Manor Care , is a major provider in both short-term and short-term short-term care. In 2007, it has over 500 skilled maintenance and rehabilitation centers, assisted care facilities, an outpatient rehabilitation clinic, and home care and home health care offices, and more than 60,000 employees. The company is headquartered in Toledo, Ohio. In July 2007, he agreed to a $ 4.9 billion purchase offer from private equity firm Carlyle Group.
Video HCR Manor Care
Operation
The company operates mainly under Heartland, ManorCare Health Services, and Arden Courts. In 2006, he earned $ 167 million for sales of $ 3.6 billion.
By the end of 2015, the company operates 243 skilled maintenance facilities, 55 assisted living facilities, 109 home care and home health offices, and 92 outpatient clinics, located in 28 states, mainly in Florida, Illinois, Michigan, Ohio; Pennsylvania.. About 73% of its revenues come from higher paying Medicare and paying private patients.
By the end of 2015, the company has approximately 57,500 employees, including part-time employees. Approximately 7,000 employees are paid; the rest are employees per hour. Approximately 1,400 employees are union members.
Maps HCR Manor Care
History
Manor treatment began in 1959, when Stewart W. Bainum, Sr., a former plumber, opened a nursing home in Wheaton, Maryland. The company went public in 1969.
In 1980, the company joined the Quality International hotel company, later renamed Choice Hotels, which is also run by Bainum. In 1982, the company acquired Cenco nursing home operator, for $ 209 million; The total facility is 105, in 19 states. In 1987, Stewart Bainum, Jr., became chairman and CEO, succeeding his father.
In 1992, the company turned Vitalink Pharmacy Services into a public company for $ 236 million. In 1996, the company turned the Choice Hotels, refocusing its business on health care.
In 1998, Ohio-based Health Care and Retirement Corporation joined Manor Care to become HCR Manor Care. Company headquarters are consolidated in Toledo.
In March 2000, Stewart W. Bainum, Jr., and the management group made a separate offer to buy the company, which was rejected by the company board. His term as chairman of the board ended in 2001, and in 2002 he left the Council.
purchase bid 2007
In July 2007, the company approved a $ 4.9 billion purchase offer from a private equity firm of Carlyle Group; it will no longer be a public company. Analysts say that Carlyle is interested in the company for owning, not renting, virtually all of its own facilities and boasting the best real-estate portfolio in the business, with well-maintained facilities in general, in good locations, and small mortgage debt. By borrowing property to finance purchases, Manor Care and Carlyle can make transactions on favorable terms. The purchase was completed at $ 67 per share on December 21, 2007.
In 2010 HCR Manorcare entered into lease-sale transactions whereby the company sold 338 post-acute, skilled and life-assisted care facilities of US $ 6.1 billion. It is now owned by HCP, a REIT based in the state of California. These assets are still operated by HCR ManorCare.
References
External links
- Company website
- HCR Manor Care Foundation
Source of the article : Wikipedia
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