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HILLHAVEN ANNOUNCES AGREEMENTS TO SELL NURSING CENTERS; IMPLEMENTATION OF PREVIOUSLY ANNOUNCED RESTRUCTURING

 HILLHAVEN ANNOUNCES AGREEMENTS TO SELL NURSING CENTERS;
 IMPLEMENTATION OF PREVIOUSLY ANNOUNCED RESTRUCTURING
 TACOMA, Wash., April 24 /PRNewswire/ -- The Hillhaven Corp. (AMEX: HIL) today announced that it has completed the sale of four nursing centers located in Texas and has entered into definitive agreements to sell or sublease an additional 44 facilities. The completion of the transactions remain subject to various regulatory and other approvals and are expected to close this summer. Terms were not disclosed.
 The facilities covered by the definitive agreements are located in Missouri (20), Kansas (12) and six other states.
 These transactions are part of the company's previously announced restructuring plan which includes the disposition of 82 facilities. The company believes that the remaining facilities will be disposed of within the next two years.
 After the transactions, Hillhaven will continue to be the nation's second-largest long-term care provider. In addition to its 354 (ongoing and held for sale) nursing centers, Hillhaven also operates 25 retirement housing communities, two continuing care retirement communities and 122 retail and institutional pharmacies.
 -0- 4/24/92
 /CONTACT: Tim Carroll of Hillhaven, 206-572-4901/
 (HIL) CO: The Hillhaven Corp. ST: Washington, Texas, Missouri IN: HEA SU: RCN


SC-LM -- SE006 -- 2629 04/24/92 16:03 EDT
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Publication:PR Newswire
Date:Apr 24, 1992
Words:203
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