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January 6, 1989 | JUBE SHIVER Jr., Times Staff Writer
National Medical Enterprises, resorting to a popular corporate technique to boost shareholder value, said Thursday that it plans to spin off its troubled nursing home subsidiary, the Hillhaven Corp. The bid to split off the nation's second-largest nursing home chain to existing NME shareholders "should benefit" them because "the marketplace will evaluate the long-term care operations separately from our acute and specialty hospital business after the spinoff," Richard K.
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BUSINESS
October 23, 1995 | BARBARA MARSH, TIMES STAFF WRITER
PacifiCare and some other health maintenance organizations are finding themselves in the middle of a statewide contract dispute between a union and Hillhaven Corp., a nursing home operator. PacificCare was the target of picketing Friday by 17 members of the Service Employees International Union, who accused the Cypress company of "dumping" acutely ill hospital patients into nursing homes. The union claims that some facilities operated by Hillhaven, based in Tacoma, Wash.
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BUSINESS
March 8, 1995 | Times Staff and Wire Reports
Horizon Boosts Offer for Hillhaven: Horizon sweetened the hostile bid as Hillhaven Corp.'s largest shareholder said it will begin a proxy battle to urge the Tacoma, Wash.-based firm to agree to a sale. The latest offensive boosts the stakes in a fight that began Jan. 26, when Horizon bid $1 billion for the rival nursing home operator with the support of its largest shareholder, Tenet Healthcare Corp. The Tenet hospital chain, formerly named National Medical Enterprises Inc.
BUSINESS
September 19, 1995 | Times Staff and Wire Reports
Hillhaven Workers Strike Nursing Homes: The company said workers staged a one-day strike at nine California nursing homes, including one in Claremont in Southern California, seeking higher wages and accusing the company of inadequate staffing. Tacoma, Wash.-based Hillhaven Corp. hired replacement workers and said patient services were not affected by the strike.
BUSINESS
January 31, 1994 | From Times Staff and Wire Reports
NME to Raise Hillhaven Stake: Santa Monica-based National Medical Enterprises Inc. said it will more than double its equity stake in Hillhaven Corp. to 33% with a cashless transaction that shifts a portion of its Hillhaven preferred stock holding into common shares. Tacoma, Wash.-based Hillhaven is a national operator of more than 400 nursing homes, retirement housing and institutional pharmacies.
BUSINESS
September 19, 1995 | Times Staff and Wire Reports
Hillhaven Workers Strike Nursing Homes: The company said workers staged a one-day strike at nine California nursing homes, including one in Claremont in Southern California, seeking higher wages and accusing the company of inadequate staffing. Tacoma, Wash.-based Hillhaven Corp. hired replacement workers and said patient services were not affected by the strike.
BUSINESS
January 27, 1995 | From Bloomberg Business News
Horizon Healthcare Corp. made a surprise bid for Hillhaven Corp. for $28 a share in stock, or about $900 million, in a takeover that would combine two of the nation's largest nursing home operators. Hillhaven said it will consider the proposal. A spokesman declined to elaborate. In addition to buying Hillhaven's common and preferred stock, Albuquerque-based Horizon would assume the company's $577.6 million of debt, bringing the total value of the transaction to about $1.4 billion.
BUSINESS
October 23, 1995 | BARBARA MARSH, TIMES STAFF WRITER
PacifiCare and some other health maintenance organizations are finding themselves in the middle of a statewide contract dispute between a union and Hillhaven Corp., a nursing home operator. PacificCare was the target of picketing Friday by 17 members of the Service Employees International Union, who accused the Cypress company of "dumping" acutely ill hospital patients into nursing homes. The union claims that some facilities operated by Hillhaven, based in Tacoma, Wash.
BUSINESS
April 26, 1995
Vencor to Buy Hillhaven: Tacoma, Wash.-based Hillhaven Corp. said it agreed to be acquired by Vencor Inc., a Louisville, Ky.-based provider of long-term hospital care that is about a third its size, in a stock swap valued at about $1.4 billion. The agreement comes after Hillhaven, the nation's second-largest operator of nursing homes, last month rejected a bid from rival Horizon Healthcare Corp. That prompted Hillhaven's largest shareholder, Tenet Healthcare Corp.
BUSINESS
January 27, 1995 | From Bloomberg Business News
Horizon Healthcare Corp. made a surprise bid for Hillhaven Corp. for $28 a share in stock, or about $900 million, in a takeover that would combine two of the nation's largest nursing home operators. Hillhaven said it will consider the proposal. A spokesman declined to elaborate. In addition to buying Hillhaven's common and preferred stock, Albuquerque-based Horizon would assume the company's $577.6 million of debt, bringing the total value of the transaction to about $1.4 billion.
BUSINESS
January 31, 1994 | From Times Staff and Wire Reports
NME to Raise Hillhaven Stake: Santa Monica-based National Medical Enterprises Inc. said it will more than double its equity stake in Hillhaven Corp. to 33% with a cashless transaction that shifts a portion of its Hillhaven preferred stock holding into common shares. Tacoma, Wash.-based Hillhaven is a national operator of more than 400 nursing homes, retirement housing and institutional pharmacies.
CALIFORNIA | LOCAL
March 3, 1992 | PENELOPE McMILLAN, TIMES STAFF WRITER
When Shirley Podolsky managed to find a nursing home to care for her husband, Hyman, last July, she thought she had found a place where the 82-year-old Alzheimer's victim could get long-term care. But the nursing home's attempt several days later to evict the man left her "devastated," Podolsky, 78, said. "I couldn't care for him myself."
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