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"We have worked with (Quality Care Properties) to reach an agreement that provides stability for our employees, residents and patients," Steven M. Cavanaugh, HCR ManorCare's president and CEO, stated.
Quality Care Properties said in a statement that it should be a smooth transition of ownership and patient care won’t be affected. A spokeswoman with HCR ManorCare also said that the parent company’s bankruptcy won’t affect employee benefits or supplier relationships at its subsidiary locations in the Dayton area.
Locally, HCR ManorCare operates post-acute care nursing and rehabilitation centers under the name Heartland in Beavercreek, Centerville, Kettering, Greenville, Miamisburg, Piqua, Springfield and Fairfield. Heartland Hospice Services, based in Kettering, also serves a 10-county area.
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Reuters reported HCR ManorCare has been struggling with reduced government reimbursements for care, low occupancy and people switching to alternative options like home health care.
Reuters said ManorCare owed $446 million in rent that was accruing at a minimum of $39.5 million every month.
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