Beverly Enterprises, the nation's largest publicly held operator of nursing homes, announced Thursday that it has agreed to acquire 59 nursing home facilities with 6,321 beds from Angell Care Inc.
The acquisition--subject to state, and perhaps federal, approval--would increase Beverly's number of nursing homes to 1,000, with 112,500 beds in 44 states, the District of Columbia and the province of Ontario in Canada.
Headquartered in Winston-Salem, N.C., privately held Angell Care operates primarily in the Midwest, with more than half of the nursing homes located in Missouri. Angell Group will continue to operate 36 facilities with more than 4,600 beds and three retirement projects in seven states.
David Banks, president of Beverly Enterprises, would not disclose the terms of the agreement but said the nursing homes that Beverly plans to purchase had annual revenue of $90 million last year.