HCR ManorCare has reached an agreement to transition its ownership and leadership, including its skilled nursing, assisted living, hospice and homecare businesses, to Quality Care Properties.
The transaction is expected to recapitalize HCR ManorCare and provide stability and flexibility to better react to today’s rapidly changing post-acute care industry. Under QCP’s ownership and with new leadership, HCR ManorCare will continue to focus on providing superior patient care in this vital sector of healthcare.
HCR ManorCare, the parent holding company for the HCR ManorCare operating businesses, will voluntarily file for Chapter 11 under the United States Bankruptcy Code in the coming days. HCR ManorCare’s operating subsidiaries will not file for Chapter 11 and the parent company’s Chapter 11 filing will have no impact on patient care or the subsidiaries’ operations.
HCR ManorCare is a provider of short-term, post-hospital services and long-term care with a network of more than 500 skilled nursing and rehabilitation centers, memory care communities, assisted living facilities, outpatient rehabilitation clinics, and hospice and home healthcare agencies.
