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BUSINESS
October 9, 1997 | (Bloomberg News)
New Mexico-based Sun Healthcare Group Inc. said Wednesday it completed its purchase of Regency Health Services Inc. for $625 million in cash and assumed debt, bringing Sun a step closer to becoming one of the largest nursing home operators in the U.S. Albuquerque-based Sun paid $22 a share for Regency, and said about 99% of Regency's outstanding shares were tendered at midnight Tuesday.
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NEWS
November 14, 1999 | From Associated Press
Nursing home workers striking against troubled Sun Healthcare Group facilities have been told not to return to work until a contract agreement is reached, union officials said Saturday. About 155 employees of SunBridge Care and Rehabilitation Center in Fremont and SunBridge Care Center in Pleasant Hill are striking over a redesigned benefits package, according to the Health Care Workers Union Local 250.
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BUSINESS
October 30, 1998 | From Times Wire Services
MCI WorldCom Inc. on Thursday reported a third-quarter profit in its first earnings report since MCI Communications Corp. and WorldCom Inc. joined forces to create the nation's second-largest long-distance company. The company said it had profit before charges of $430 million, or 19 cents a share, contrasted with a year-ago loss of $265 million, or 17 cents, for the two former companies combined, as its investment in Embratel, Brazil's dominant phone company, boosted revenue.
BUSINESS
October 30, 1998 | From Times Wire Services
MCI WorldCom Inc. on Thursday reported a third-quarter profit in its first earnings report since MCI Communications Corp. and WorldCom Inc. joined forces to create the nation's second-largest long-distance company. The company said it had profit before charges of $430 million, or 19 cents a share, contrasted with a year-ago loss of $265 million, or 17 cents, for the two former companies combined, as its investment in Embratel, Brazil's dominant phone company, boosted revenue.
BUSINESS
July 29, 1997 | BARBARA MARSH, TIMES STAFF WRITER
Nursing home operator Regency Health Services Inc. is being acquired by a New Mexico company twice its size for $369 million in cash, or $22 a share, the companies announced Monday. Sun Healthcare Group Inc., based in Albuquerque, will also assume about $220 million of Regency's debt. The proposed buyout, approved by the companies' boards, is the latest of several deals this year in the rapidly consolidating nursing home industry. Richard K.
BUSINESS
February 22, 1994 | NANCY WALZ, ASSOCIATED PRESS
Andy Turner wanted sun and a slower pace when he left his executive job at a big nursing home chain based in Washington state and moved to New Mexico. He got the sun. The slower pace didn't last. The small nursing home company he started in the basement of his Albuquerque home in 1989 became Sun Healthcare Group Inc., a $350-million business that could more than double in size with the planned acquisition of Mediplex Group, a Boston-based competitor.
NEWS
November 14, 1999 | From Associated Press
Nursing home workers striking against troubled Sun Healthcare Group facilities have been told not to return to work until a contract agreement is reached, union officials said Saturday. About 155 employees of SunBridge Care and Rehabilitation Center in Fremont and SunBridge Care Center in Pleasant Hill are striking over a redesigned benefits package, according to the Health Care Workers Union Local 250.
BUSINESS
October 15, 1999
* Sun Healthcare Group Inc., one of the largest U.S. nursing-home operators, filed for Chapter 11 Bankruptcy Court reorganization after it said changes in government health payments led to large losses and a crushing debt load; the petition lists more than $1.8 billion in assets and $2.1 billion in debts. * * Liz Claiborne Inc. and Donna Karan International Inc.
BUSINESS
July 30, 1997
Nursing home operator Regency Health Services Inc. posted a 13% gain in net income for the second quarter on a 19% increase in revenue. The company said that it earned $3.5 million, or 22 cents a share, up from $3.1 million, or 18 cents a share, for the 1996 second quarter. Revenue advanced to $163.2 million from $137.1 million. First half net income was up 16% to $6.7 million, or 42 cents a share, from $5.8 million, or 35 cents a share, for the first six months of 1996.
BUSINESS
October 9, 1997 | (Bloomberg News)
New Mexico-based Sun Healthcare Group Inc. said Wednesday it completed its purchase of Regency Health Services Inc. for $625 million in cash and assumed debt, bringing Sun a step closer to becoming one of the largest nursing home operators in the U.S. Albuquerque-based Sun paid $22 a share for Regency, and said about 99% of Regency's outstanding shares were tendered at midnight Tuesday.
BUSINESS
July 29, 1997 | BARBARA MARSH, TIMES STAFF WRITER
Nursing home operator Regency Health Services Inc. is being acquired by a New Mexico company twice its size for $369 million in cash, or $22 a share, the companies announced Monday. Sun Healthcare Group Inc., based in Albuquerque, will also assume about $220 million of Regency's debt. The proposed buyout, approved by the companies' boards, is the latest of several deals this year in the rapidly consolidating nursing home industry. Richard K.
BUSINESS
February 22, 1994 | NANCY WALZ, ASSOCIATED PRESS
Andy Turner wanted sun and a slower pace when he left his executive job at a big nursing home chain based in Washington state and moved to New Mexico. He got the sun. The slower pace didn't last. The small nursing home company he started in the basement of his Albuquerque home in 1989 became Sun Healthcare Group Inc., a $350-million business that could more than double in size with the planned acquisition of Mediplex Group, a Boston-based competitor.
BUSINESS
August 28, 1997 | Bloomberg News
Sun Healthcare Group Inc. said it extended its tender offer to buy Tustin-based Regency Health Services Inc. at $22 a share, giving the Albuquerque company more time to wrap up regulatory affairs in its bid to become one of the biggest nursing home chains. The offer, under which Sun plans to buy Regency for about $589 million in cash and assumed debt, was announced July 27 and launched Aug. 21. The offer was extended to Oct. 7 from the original deadline of Sept. 15.
BUSINESS
October 30, 1995 | Times Staff and Wire Reports
Bernard G. Rethore has been named president and chief executive of BW/IP Inc. Rethore, who also joins the Long Beach company's board of directors, succeeds Peter C. Valli, who will retire at the end of the year, although he will remain as chairman of the board. Rethore, 54, is the former president of Phelps Dodge Industries. BW/IP produces pumps and pumping equipment, mechanical seals, nuclear valves and aircraft parts and equipment. * Great Western Financial Corp. has named Barry R.
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