BRENTWOOD, Tenn., Aug. 15, 2016 (GLOBE NEWSWIRE) — Diversicare Healthcare Services, Inc. (NASDAQ:DVCR), a arch provider of abiding affliction services, today appear that the Company has entered into Operation Transfer Agreements to accept the operations of 22 accessories from Golden Living, accretion about 2,600 acquired accomplished nursing beds. The affairs are accountable to closing conditions, including but not bound to, licensure and due diligence. The accessories are amid in Alabama and Mississippi and the affairs are accepted to become able in the fourth division of 2016. This portfolio is accepted to accord in balance of $185 actor in anniversary revenues. Diversicare will charter 20 accessories from Golden Living, and will accept the leases of the added two facilities.
Commenting on the acquisitions, Kelly Gill, the Company’s Chief Executive Officer, stated, “We are aflame to advertise our access into the accompaniment of Mississippi, and our broadcast attendance in the accompaniment of Alabama, which will accompany our absolute adeptness calculation to 76 aloft achievement of the transaction. We are captivated to accept been called by Golden Living to accept a cogent allocation of their portfolio, and to become a admired cardinal partner. Golden Living has performed admirably in these centers and we attending advanced to continuing to body aloft their absolute success.”
Mr. Gill continued, “Upon achievement of this transaction, we will accept a portfolio of 76 centers with an estimated acquirement run-rate of over $570 million. We are admiring that our acquisitions accept appear from a aggregate of fee-simple purchases, abbreviate appellation lease-to-own affairs and, as is the case with this transaction with Golden Living, abiding leases. The array of transaction scenarios demonstrates our adeptness to abound utilizing altered costs sources, after the arising of dilutive disinterestedness capital.”
About Diversicare Healthcare Services, Inc.
As of August 15, 2016, Diversicare provides abiding affliction casework to patients in 54 accomplished nursing and chief apartment centers absolute 5,918 accountant beds. For added advice about the Company, appointment Diversicare’s web site: www.DVCR.com.
The “forward-looking statements” independent in this absolution are fabricated pursuant to the safe anchorage accoutrement of the Private Securities Litigation Ameliorate Act of 1995. Advanced statements are predictive in attributes and are frequently articular by the use of agreement such as “may,” “will,” “should,” “expect,” “believe,” “estimate,” “intend,” and agnate words advertence accessible approaching expectations, contest or actions. These advanced statements reflect our accepted angle with account to approaching contest and present our estimates and assumptions alone as of the date of this release. Absolute after-effects could alter materially from those advised by the advanced statements fabricated in this release. In accession to any assumptions and added factors referred to accurately in affiliation with such statements, added factors, abounding of which are above our adeptness to ascendancy or predict, could account our absolute after-effects to alter materially from the after-effects bidding or adumbrated in any advanced statements including, but not bound to, our adeptness to auspiciously accomplish the new nursing centers in Alabama, Kansas, Kentucky, Missouri, Ohio, and Indiana, our adeptness to access demography at our adapted centers, changes in authoritative reimbursement, including the appulse of the CMS final aphorism that has resulted in a abridgement in Medicare agreement as of October 2012 and our adeptness to abate the appulse of the acquirement reduction, government regulation, the appulse of the afresh adopted federal bloom affliction ameliorate or any approaching bloom affliction reform, any increases in the amount of borrowing beneath our acclaim agreements, our adeptness to accede with covenants independent in those acclaim agreements, the aftereffect of able accountability lawsuits and claims, our adeptness to ascendancy ultimate able accountability costs, the accurateness of our appraisal of our advancing able accountability expense, the appulse of approaching licensing surveys, the aftereffect of affairs alleging violations of accompaniment or Federal False Claims Acts, laws and regulations administering affection of affliction or added laws and regulations applicative to our business including laws administering agreement from government payors, impacts associated with the accomplishing of our cyberbanking medical annal plan, the costs of advance in our business initiatives and development, our adeptness to ascendancy costs, changes to our appraisal of deferred tax assets, changes in control ante in our centers, alteration bread-and-er and aggressive conditions, changes in advancing acquirement and amount growth, changes in the advancing after-effects of operations, the aftereffect of changes in accounting behavior as able-bodied as added accident factors abundant in the Company’s Securities and Exchange Commission filings. The Company has provided added advice in its Anniversary Report on Form 10-K for the budgetary year concluded December 31, 2014, as able-bodied as in its added filings with the Securities and Exchange Commission, which readers are encouraged to analysis for added acknowledgment of added factors. These assumptions may not actualize to the admeasurement assumed, and risks and uncertainties may account absolute after-effects to be altered from advancing results. These risks and uncertainties additionally may aftereffect in changes to the Company’s business affairs and prospects. Diversicare Healthcare Services, Inc. is not amenable for afterlight the advice independent in this columnist absolution above the appear date, or for changes fabricated to this certificate by wire casework or Internet services.
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