AcquisitionsJul 1, 2026, 04:47 PM
National Healthcare completes $560M acquisition of 35 facilities
AI Summary
National Healthcare Corporation (NHC) announced the completion of its acquisition of 32 skilled nursing facilities and three independent living facilities from National Health Investors, Inc. (NHI) for $560 million in cash. The purchase was funded by borrowings under a new Credit Agreement, which was recently amended to increase its revolving credit facility from $50 million to $75 million, and cash on hand. NHC's CEO, Steve Flatt, stated that owning these facilities is expected to be accretive to earnings and cash flow, aligning with the company's operational strategy.
Key Highlights
- Completed acquisition of 32 skilled nursing and 3 independent living facilities.
- Purchase price paid to National Health Investors, Inc. was $560 million in cash.
- Acquisition funded by borrowings under a Credit Agreement and cash on hand.
- First Amendment increased revolving credit facility from $50 million to $75 million.
- Master Lease terminated for all facilities except four Florida skilled nursing facilities.
- Existing Credit Agreement dated August 1, 2024, was terminated.
Price Impact
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