American Health Properties, Inc. invests $22.5 million in two hospitals.DENVER--(BUSINESS WIRE)--May 3, 1995--American Health Properties, Inc. (NYSE NYSE See: New York Stock Exchange :AHE) announced that it completed a $22.5 million investment in the 66-bed Chesterfield General Hospital in Cheraw, South Carolina Cheraw (IPA: /ʃʌˈɹɔʷ/, locally /tʃʌˈɹɔʷ/) is a city in Chesterfield County, South Carolina, United States. , and the 60-bed Marlboro Park Hospital in Bennettsville, South Carolina Bennettsville is a city in Marlboro County, South Carolina, United States. The population was 9,425 at the 2000 census and center of an urban cluster with a total population of 12,070. It is the seat of Marlboro CountyGR6. . Each facility is the sole provider in its respective county and is part of a regional health care delivery system. The company has leased the hospitals to an affiliate of Dynamic Health, Inc. pursuant to a master lease. Dynamic Health is managed by a team of senior executives with significant national experience in the for-profit hospital For-profit hospitals, or alternatively investor-owned hospitals, are investor-owned chains of hospitals which have been established particularly in the United States during the late twentieth century. industry. Dynamic's strategy is to acquire medium-size acute care hospitals in smaller suburban and rural communities. Dynamic also operates the company's acute care hospital located in Cleveland, Texas. Joseph P. Sullivan, President and Chief Executive Officer of the company, stated that: "American Health Properties is very pleased to have made this additional investment with Dynamic Health. This represents a continuation of the excellent relationship between the two companies." AHE is a real estate investment trust (REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). ) specializing in quality health care facilities. The company's investments include twenty-five acute care, rehabilitation, psychiatric, medical office and long-term care long-term care (LTC), n the provision of medical, social, and personal care services on a recurring or continuing basis to persons with chronic physical or mental disorders. properties located in 13 states. CONTACT: American Health Properties, Inc., Denver Victor C. Streufert, 303/796-9793 |
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