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Beverly Enterprises Inc

BUSINESS
July 17, 2001 | Bloomberg News
Beverly Enterprises Inc., the largest operator of skilled-care nursing homes in the U.S., agreed to sell 49 skilled nursing facilities and four assisted living centers in Florida for $165 million in cash to pay down debt. NMC of Florida, an affiliate of Vantage Medical Inc. and Formation Capital, will buy the facilities and agreed to terms for senior debt financing with UBS Warburg and Heller Healthcare, Beverly said in a statement. The sale is expected to be complete by the fourth quarter.
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BUSINESS
May 16, 2002 | Dow Jones/Associated Press
The state of California has notified Beverly Enterprises Inc. that it is investigating possible criminal charges against the company based on civil citations issued between 1998 and 2001 related to patient care. In its quarterly report filed with the Securities and Exchange Commission, Beverly said it can't immediately assess the nature or significance of any charges that might be filed.
BUSINESS
August 21, 1999 | Bloomberg News
Beverly Enterprises Inc. said it will reimburse the government $170 million and pay a $5-million fine in a tentative settlement of Medicare fraud charges. The nation's largest nursing home operator said it will take a second-quarter pretax charge of $199 million to cover the cost of the settlement. The payment would be the largest ever by a nursing home company over alleged Medicare fraud.
BUSINESS
June 11, 1998 | Bloomberg News
Beverly Enterprises Inc. has persuaded a California state court judge to slash a $95.1-million jury award to a patient injured in one of the company's nursing homes by 97%, citing the award as excessive. Superior Court Judge James Kleaver in Yreka chopped the total award to Reba Gregory to $3.1 million after finding jurors miscalculated actual damages stemming from her injuries. Kleaver also concluded that the punitive damage award against Beverly, a Fort Smith, Ark.
BUSINESS
October 29, 1986 | JUBE SHIVER Jr., Times Staff Writer
Beverly Enterprises Inc., the nation's largest publicly owned nursing home chain, disclosed Tuesday that some of its senior executives and outside investors are considering taking the company private. Such a buyout could total as much as $2.2 billion, industry analysts said, and would come at a time when Beverly's stock is considered undervalued and a possible takeover target. Beverly's stock increased $3.
CALIFORNIA | LOCAL
August 2, 2002 | JESSICA GARRISON, TIMES STAFF WRITER
One of the nation's largest nursing home chains pleaded no contest Thursday to felony elder abuse charges stemming from the deaths of two people and promised to make wide-ranging improvements in the quality of care at 60 facilities statewide. Beverly Enterprises Inc. also agreed to pay $2 million in civil penalties for a range of violations that allegedly led to major bedsores, dehydration, malnutrition, poor personal hygiene and improper medication among patients from Yreka to Escondido.
CALIFORNIA | LOCAL
February 5, 1990 | JOHN HURST, TIMES STAFF WRITER
Giant nursing home chain operator Beverly Enterprises is closing a large facility for the retarded in Lynwood after receiving critical inspection reports citing substandard living conditions, lack of staffing and failure to provide proper care and treatment of clients.
NEWS
January 12, 1995
A union-backed study of Beverly Enterprises, the nation's largest nursing home operator with 78 homes in California, reports that the firm is providing substandard patient care in its homes. The study, undertaken by the AFL-CIO's Food and Allied Service Trades, focused on Beverly Enterprises nursing homes in Missouri, where the company is under a state order to improve patient care.
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