AdCare Health Systems, Inc. (ADK) Secures 15 Expert Nursing Facilities in US Southeast, Projects $268M Annualized Run-Rate, Up 400% from 2010
AdCare Health Systems, one of the leading care providers in the senior living and health care facility management, announced today signature of a definitive $38.5M agreement, whereby ADK will acquire, lease and become manager of a 15 location network of nursing facilities, staffed with highly skilled personnel. Located in Tennessee, Virginia and both Carolinas, this network of facilities represents some 2k beds and brings the total number of contract facilities under the Company’s control to 46. Impressive work by ADK, which began its mergers and acquisitions campaign back in the fall of 2009, subsequently amassing a small empire and culminating…