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NATIONWIDE HEALTH PROPERTIES INC. ACQUIRES NEW REHABILITATION HOSPITAL FOR $8.7 MILLION

 NATIONWIDE HEALTH PROPERTIES INC. ACQUIRES
 NEW REHABILITATION HOSPITAL FOR $8.7 MILLION
 NEWPORT BEACH, Calif., June 17 /PRNewswire/ -- Nationwide Health Properties Inc. (NYSE: NHP) announced today that it closed on its commitment to acquire a newly constructed 60-bed rehabilitation facility in Tucson, Ariz. The facility was constructed by Continental Medical Systems Inc. (NYSE: CNM), which has entered into a 10-year lease to operate the facility.
 "Continental is one of the most successful companies in the freestanding rehabilitation hospital field," said R. Bruce Andrews, president and chief executive officer. "This facility, located on a medical campus including a Health Ts a real estate investment trust company that invests in health care facilities. The company owns 113 facilities in 26 states.
 -0- 6/17/92
 /CONTACT: R. Bruce Andrews, president and CEO, or D. Michael Connellan, senior VP, of Nationwide Health Properties, 714-251-1211/
 (NHP CNM) CO: Nationwide Health Properties Inc.; Continental Medical
 Systems Inc. ST: California, Arizona IN: HEA FIN SU: TNM


EH-JL -- LA002 -- 0949 06/17/92 09:03 EDT
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Publication:PR Newswire
Date:Jun 17, 1992
Words:169
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