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Nursing Home Buyout for Carlyle
by Megan Barnett
Jul 2 2007
Jul 2 2007
The Carlyle Group sees value in long-term-care facilities with its $6.3 billion purchase of Manor Care.
Industry:
Finance
Summary:
The Carlyle Group is one of the world's largest private equity firms, with more than $81.1 billion under management. With …
Primary executive:
Ronald Singer , President
The nursing-home operator 
Manor Care agreed to be taken private by the Carlyle Group for $6.3 billion, or $67 per share. The price tag represents a 20 percent premium from the stock's price on April 10, the day before the company announced it was considering strategic alternatives.
Manor Care, based in Toledo, Ohio, operates more than 500 nursing-care facilities under the names Heartland, ManorCare Health Services, and Arden Court. When the company said it would seek a buyer, analysts called it "the last publicly traded, national skilled-nursing provider that predominantly owns real estate," according to the Wall Street Journal.
As medical costs have risen, many health-care facilities have recently been bought or gone private, Bloomberg News notes. Hospital Corporation of America, the world's largest hospital operator, was bought out by private equity funds for $21.3 billion late last year. In March, Community Health Systems acquired Triad Hospitals for $5.1 billion.
Manor Care shares slipped to $64.29 in trading this morning.
Manor Care agreed to be taken private by the Carlyle Group for $6.3 billion, or $67 per share. The price tag represents a 20 percent premium from the stock's price on April 10, the day before the company announced it was considering strategic alternatives.Manor Care, based in Toledo, Ohio, operates more than 500 nursing-care facilities under the names Heartland, ManorCare Health Services, and Arden Court. When the company said it would seek a buyer, analysts called it "the last publicly traded, national skilled-nursing provider that predominantly owns real estate," according to the Wall Street Journal.
As medical costs have risen, many health-care facilities have recently been bought or gone private, Bloomberg News notes. Hospital Corporation of America, the world's largest hospital operator, was bought out by private equity funds for $21.3 billion late last year. In March, Community Health Systems acquired Triad Hospitals for $5.1 billion.
Manor Care shares slipped to $64.29 in trading this morning.
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