NHC Acquires Outstanding Interest in Caris Healthcare

Rhea-AI Summary

On June 11, 2021, National HealthCare Corporation (NHC) completed the acquisition of the remaining interest in Caris Healthcare, L.P. from Norman C. McRae and McRae Investment Company, LLC. NHC previously held a majority stake in Caris, which serves over 1,200 patients daily across 28 locations in five states. This acquisition allows Caris to operate as a wholly owned subsidiary of NHC, enhancing NHC’s continuum of care for seniors.

Positive

• Acquisition strengthens NHC's position in the hospice and palliative care sector.
• Caris operates in multiple states, potentially expanding NHC's patient base.
• Integration of services may lead to increased operational efficiencies.

Negative

• None.

National HealthCare Corporation (NYSE American: NHC), a national leader in senior care, acquired the remaining interest in hospice and palliative care provider Caris Healthcare, L.P. from Norman C. McRae and McRae Investment Company, LLC on June 11, 2021. Prior to the purchase, NHC owned a majority stake in Caris. Caris specializes in providing hospice and palliative care to over 1,200 patients per day in 28 locations in Georgia, Missouri, South Carolina, Tennessee, and Virginia. As a result of the purchase, Caris will be a wholly owned and consolidated subsidiary of NHC.

“Caris has been a premier hospice and palliative care provider for many years. We are honored to continue to provide these critical, compassionate services for patients and their families during such a challenging time in their lives,” said Steve Flatt, Chief Executive Officer of NHC.

The acquisition is a strategic advancement of NHC’s growth of a continuum of care to seniors in its operational footprint.

About National HealthCare Corporation

NHC affiliates operate for themselves and third parties 75 skilled nursing facilities with 9,463 beds. NHC affiliates also operate 24 assisted living communities, five independent living communities, one behavioral health hospital, 35 homecare agencies, and 28 hospice agencies. NHC’s other services include Alzheimer’s and memory care units, pharmacy services, a rehabilitation services company, and providing management and accounting services to third party post-acute operators. For more information, visit www.nhccare.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210618005593/en/

FAQ

What is the significance of NHC acquiring Caris Healthcare?

The acquisition allows NHC to fully integrate Caris into its operations, strengthening its hospice and palliative care services.

When was the acquisition of Caris Healthcare by NHC completed?

The acquisition was completed on June 11, 2021.

How many patients does Caris Healthcare serve?

Caris Healthcare serves over 1,200 patients daily.

In which states does Caris Healthcare operate?

Caris operates in Georgia, Missouri, South Carolina, Tennessee, and Virginia.

What is the impact of this acquisition on NHC's business?

The acquisition is expected to enhance NHC's continuum of care for seniors and may lead to increased revenue and operational efficiencies.