NHC to Acquire White Oak Senior Living Portfolio
Summary
MURFREESBORO, Tenn.--(BUSINESS WIRE)--National HealthCare Corporation (NYSE American: NHC), a national leader in senior care, announced that on May 31, 2024 it entered a Purchase and Sale Agreement to acquire the White Oak Senior Living (“White Oak”) portfolio operating in North Carolina and South Carolina, including its long-term care pharmacy. In South Carolina, the portfolio consists of nine skilled nursing facilities, one of which also includes assisted and independent living units. “ White Oak has been a premier skilled nursing and senior living provider in North and South Carolina for many years. We are honored to acquire and operate the White Oak brand and continue to provide critical services to their patients and families,” said Steve Flatt, Chief Executive Officer of NHC. The risks and uncertainties are detailed from time to time in reports filed by NHC with the Securities Exchange Commission (“SEC”), including Forms 8-K, 10-Q and 10-K, and include, among others, following: the ability to complete the transaction in a timely manner, if at all; liabilities and other claims asserted against us and patient care liabilities, as well as the resolution of current litigation; availability of insurance and assets for indemnification; national and local economic conditions; including their effect on the availability and cost of labor, utilities and materials; the effect of government regulations and changes in regulations governing the healthcare industry, including our compliance with such regulations; changes in Medicare and Medicaid payment levels and methodologies and the application of such methodologies by the government and its fiscal intermediaries, the ability of third parties for whom we have guaranteed debt to refinance certain short term debt obligations; and other factors referenced or incorporated by reference in NHC’s SEC filings.