Beverly sells Arkansas eldercare operations.Fort Smith, Ark.-based Beverly Enterprises Inc. has sold 11 of its Arkansas eldercare eld·er·care n. Social and medical programs and facilities intended for the care and maintenance of the aged. facilities to an investor group for an undisclosed sum, the long term care facility operator reported. According to James Griffith, Beverly's senior vice president of investor relations Investor relations The process by which the corporation communicates with its investors. , the 11 operations--10 skilled nursing centers and an assisted living as·sist·ed living n. A living arrangement in which people with special needs, especially older people with disabilities, reside in a facility that provides help with everyday tasks such as bathing, dressing, and taking medication. facility--were expected to generate $53 million in revenues and a pre-tax loss of $2 million in 2004. The facilities were expected to account for less than 3 percent of Beverly's skilled nursing facilities 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. revenues and more than 13 percent of its projected patient care liability costs this year. |
|
||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion