May 18, 2001
Health Care Property Investors Inc., a Newport Beach real estate investment trust, said Thursday that it has renewed its leases of 22 nursing centers to a Louisville long-term care provider for an additional $3.3 million in annual rent. Kindred Healthcare Inc. will pay a total of $16.1 million a year under the new leases, which run for 10 years and carry three five-year renewal periods. The increase was anticipated in Kindred's plan of reorganization, which was approved by the U.S.
July 3, 2007 |
Manor Care Inc., the largest U.S. owner of nursing homes, said Monday that it had agreed to be acquired by Carlyle Group for $4.9 billion, making it the latest healthcare provider taken off the public market by a private equity buyer. Manor Care shareholders will receive $67 a share, a 20% premium over the stock's closing price April 10, the day before the company said it was putting itself up for sale, and a 2.6% premium over Friday's close.
November 10, 2006 |
Erin Brockovich built a career as a celebrity crusader for weighty causes. But this time she was wrong for the role, according to a federal judge in Santa Ana. U.S. District Judge David O. Carter has dismissed several lawsuits that Brockovich filed this summer on behalf of Medicare.
February 24, 2012 |
The Motion Picture & Television Fund has launched a Hollywood fundraising campaign to generate $350 million in support for the charity and its nursing home that was once slated to close. On Thursday the fund announced that DreamWorks Animation Chief Executive Jeffrey Katzenberg had already helped secure more than $200 million in pledges and donations that include his own contribution and those of Tom Cruise, Steven Spielberg, Steve Bing, Casey Wasserman and George Clooney. Katzenberg and Clooney are spearheading the campaign efforts.
January 4, 2012 |
A plan to help secure the future of Hollywood's most famous nursing home has been stalled by gridlock in Washington. After months of negotiations, the board of the Motion Picture & Television Fund is close to finalizing a deal with Kindred Healthcare Inc. of Louisville, Ky., to invest in long-term acute-care services at the Woodland Hills complex that includes the nursing home. Under the proposed agreement, Kindred would invest $10 million to remodel an existing hospital building and would lease hospital and rehabilitation beds from the fund.
June 7, 2006 |
Erin Brockovich has a famous name, Hollywood good looks, an agent and a new cause: Medicare. The onetime legal assistant, whose environmental crusade against a utility company inspired a hit movie starring Julia Roberts, has lent her name as plaintiff in lawsuits against several California hospitals and convalescent homes. The suits allege the facilities pocketed millions of taxpayer dollars while covering up their own mistakes.