Newspaper article THE JOURNAL RECORD

Hillhaven Makes $12.1 Million Offer for Five Nursing Homes / in Three Cities

Newspaper article THE JOURNAL RECORD

Hillhaven Makes $12.1 Million Offer for Five Nursing Homes / in Three Cities

Article excerpt

The Oklahoma Health Planning Commission next week will consider the planned $12.1 million acquistion of five nursi ng homes in Oklahoma by Hillhaven Corp. of Tecoma, Wash.

According to commission officials, Hillhaven plans to:

- Buy and assign the 154-bed Hillcrest Nursing Center in Moore to Oklahoma Medical Enterprises Inc. at a cost of $2.9 million. The Hillcrest Nursing Center is the present owner of the facility.

- Buy and assign Rosewood Manor in Norman to Oklahoma Medical Enterprises at a cost of $3.8 million. Rosewood Manor is a 200-bed facility owned by Rosewood Manor Limited of Norman.

Assignment to Oklahoma Medical Enterprises would mean that that entity would operate and be totally responsible for both Hillcrest Nursing Center and Rosewood Manor.

Oklahoma Medical Enterprises consists of Health Care Systems of Oklahoma, formerly known as Lee-Dewey Corp., a subsidiary of St. Anthony Hospital of Oklahoma City.

St. Anthony owns 20 percent of Oklahoma Medical Enterprises. The other 80 percent is held by National Medical Enterprises Hospitals, a subsidiary of National Medical Enterprises Inc. of Los Angeles.

Moreover, Hillhaven is a wholly-owned subsidiary of National Medical Enterprises.

National Medical Enterprises, according to the 1986 Director of Corporate Affiliations, has approximate annual revenues of $3 billion. In addition, the company has over 220 general hospitals, managed hospitals and psychiatric hospitals across the country.

- Hillhaven has also applied for a certificate of need to purchase the 89-bed Cedar Creek Living Center in Norman for $1.9 million. That facility is currently owned by Cedar Creek Living CenterLimited of Norman. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.