Newspaper article THE JOURNAL RECORD

Georgia-Based AdCare Acquires OKC Nursing Home

Newspaper article THE JOURNAL RECORD

Georgia-Based AdCare Acquires OKC Nursing Home

Article excerpt

Georgia-based senior care provider AdCare Health Systems has acquired Quail Creek Nursing & Rehabilitation Center in Oklahoma City for $5.8 million and plans to add more Oklahoma properties to its portfolio.

The publicly traded company based in Roswell, Ga., said in a conference call in May that it planned to acquire Quail Creek and another Oklahoma nursing home in Tulsa during the second quarter of the year for a combined $10.3 million, adding 239 beds to its nursing home holdings in the southeastern United States. The company also has plans to acquire another five Oklahoma nursing home facilities with 456 beds during the third quarter of 2012 for a combined $13.2 million, the company reported in May.

Wendy Brooke, vice president of sales and marketing for AdCare, said the company could not disclose the names of the other nursing facilities it plans to purchase.

Situated at 13500 Brandon Pl. in Oklahoma City, the Quail Creek nursing center had a documented history of management problems under the previous owner, Dallas-based Westlake Nursing Home LP, according to reports from the Oklahoma Department of Health. …

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