OWWI Announces Investment in Operating Companies.ANN ARBOR, Mich.--(BW HealthWire)--July 31, 1998--Omega Worldwide Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :OWWI) ("Worldwide") announced today the acquisition of 19.9 percent of Baneberry baneberry, any plant of the small genus Actaea, north temperate perennials of the family Ranunculaceae (buttercup family) sometimes cultivated for the handsome (though poisonous) berrylike fruits. Healthcare Limited, a private operator of 35 nursing homes in Northern Ireland and England. Baneberry is the operator of the Sandown Group, the largest group of homes in Northern Ireland, and is partially owned by Moran Healthcare Group of Sydney, Australia. Worldwide also announced the exercise of options and the acquisition of interests in Essex Healthcare Corporation ("Essex"), an Atlanta-based private operator of 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. in suburban and rural areas. Exercise of existing agreements enabled Worldwide to acquire 47 percent of the equity shares. Essex's principal activities are in Ohio, where it operates 1,398 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. and 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. beds. Essel W. Bailey Jr., chief executive officer, commented, "We have recognized for some time the opportunity represented by strategic investments in the operating activities of high-quality long-term care operators. While Worldwide's role is that of investor and asset manager, strategic investments with high-quality operators represent an important adjunct and an additional leg of its activities. We are delighted to be able to work with two such fine management groups. Our asset management and investment skills combined with their operating skills will continue the growth enjoyed by these firms." Worldwide provides investment and management advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal to healthcare providers and invests in providers of capital finance to the healthcare industry primarily outside the United States. It is an owner of and provides management services to Principal Healthcare Finance Limited, an Isle of Jersey company that owns and leases to operators 176 nursing home facilities in the United Kingdom. Worldwide has established Principal Healthcare Finance Trust in Australia, a company that owns and leases ten nursing home facilities and 480 assisted living facilities in the Commonwealth of Australia Commonwealth of Australia: see Australia. .
CONTACT: Omega Worldwide Inc.
Essel W. Bailey Jr., 734/747-9791
James P. Flaherty, in London, 44-171-929-3444
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