Diversicare Healthcare Services announced it has assumed the operations of two Ohio long-term care facilities, the sixth and seventh centers the Brentwood-based company has acquired this year.
Diversicare has acquired a 142-bed skilled nursing facility in Avon and a 42-bed assisted-living facility in Ontario, both in the Cleveland market, through an initial 10-year lease. The two facilities are expected to contribute more than $9 million in annual revenues.
"We are pleased announce the newest additions to our portfolio and the expansion of our footprint in Ohio," Kelly Gill, Diversicare CEO, said in a release. "By identifying these centers within our current operational footprint, we further leverage the operating platform and structure we have worked so diligently implement over the last several years."
Shares of Diversicare (Ticker: DVCR) were down slightly Monday morning to $6.69. Year to date, they're up 44 percent.
POSTDATA: WARRANTY DEEDS