ACQUISITION TO EXPAND MARINER HEALTH GROUP PRESENCE IN NASHVILLE.MYSTIC, Conn.--(BUSINESS WIRE)--May 4, 1995--Mariner Health Group, Inc. (Nasdaq/NM:MRNR) today announced the signing of a definitive agreement to acquire Green Hills Health Care Center in Nashville, Tennessee “Nashville” redirects here. For other uses, see Nashville (disambiguation). Nashville is the capital and the second most populous city of the U.S. state of Tennessee, after Memphis. , a 150-bed skilled nursing facility skilled nursing facility n. Abbr. SNF An establishment that houses chronically ill, usually elderly patients, and provides long-term nursing care, rehabilitation, and other services. owned by the Metropolitan Nashville Teacher's Facility, Inc., a non-profit corporation. Upon consummation of the transaction, Mariner's presence in Nashville will include two skilled nursing facilities with an aggregate of 210 beds, operation of four outpatient rehabilitation rehabilitation: see physical therapy. clinics, contract subacute subacute /sub·acute/ (-ah-kut´) somewhat acute; between acute and chronic. sub·a·cute adj. Between acute and chronic. rehabilitation services in 10 skilled nursing facilities, pharmacy services and home care operations. Mariner Mariner Any of a series of unmanned U.S. space probes sent near Venus, Mars, and Mercury. Mariners 2 (1962) and 5 (1967) passed Venus within 22,000 mi (35,000 km) and 2,500 mi (4,000 km), respectively, and made measurements of temperature and atmospheric density. expects this acquisition to be completed during the second quarter of 1995. Arthur W. Stratton, Jr., M.D., Chairman and Chief Executive Officer of Mariner Health Group, Inc., said, "The acquisition of the Green Hills facility expands the scope of Mariner's post-acute continuum in this metropolitan area, which the Company has targeted for expansion because of demonstrated need for Mariner clinical programs. This is a major complement to our market-driven development strategy for Nashville." Green Hills is situated in the southwest quadrant quadrant, in analytic geometry quadrant. 1 In analytic geometry, one of the four regions of the plane determined by two lines, the x-axis and the y-axis. of Nashville, one of the top 30 subacute markets in the nation, with over 35,000 subacute patients discharged from metro-area acute care hospitals annually. In addition, the facility is located directly between the city's major acute care hospitals and the fastest growing residential region in Nashville, which is often referred to as 'the Silicon Valley of health care.' Mariner Health Group, Inc. provides outcomes-oriented, post acute health care services in a broad range of alternate sites. The Company's strategy is to provide care for short-stay, post acute patients in cost-effective programs. Upon completion of the acquisition, Mariner will operate 28 freestanding free·stand·ing adj. Standing or operating independently of anything else: a freestanding bell tower; a freestanding maternity clinic. facilities with an aggregate of 3,324 beds and manage four subacute care units with 170 beds within general acute care hospitals. In addition, Mariner operates 33 outpatient rehabilitation clinics and provides contract subacute rehabilitation services within 249 skilled nursing facilities. CONTACT: Mariner Health Group Inc., Mystic Arthur W. Stratton, Jr., M.D., Jeffrey W. Kinell 203/445-4000, ext. 2150 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion