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HILLHAVEN ANNOUNCES AGREEMENT TO SELL 13 NURSING CENTERS UNDER PREVIOUSLY ANNOUNCED RESTRUCTURING PLAN

 TACOMA, Wash., April 14 /PRNewswire/ -- The Hillhaven Corp. (AMEX: HIL) today announced that it has entered into a definitive agreement to sell 13 nursing centers located in Massachusetts.
 The centers are being sold for cash; other terms were not disclosed. The completion of the transaction remains subject to various regulatory and other approvals.
 "The implementation of our financial restructuring program, initiated in 1992, remains on pace. With the completion of this transaction, a total of 70 centers will have been sold or subleased," stated Bruce L. Busby, Hillhaven's chief executive officer. "This sale will allow us to provide additional capital and management resources to the remaining 37 Hillhaven nursing centers located in Massachusetts, where we offer a broad range of quality health care services."
 Hillhaven is one of the nation's largest diversified health care providers, operating over 400 health care facilities including nursing centers, retirement housing communities and pharmacy outlets in 38 states.
 -0- 4/14/93
 /CONTACT: Tim Carroll of Hillhaven, 206-572-4901/
 (HIL)


CO: The Hillhaven Corp. ST: Washington, Massachusetts IN: HEA SU: RCN

SW -- SE004 -- 5565 04/14/93 09:32 EDT
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Publication:PR Newswire
Date:Apr 14, 1993
Words:184
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