National HealthCare Corp. and Bank of America have agreed to a new $175 million line of credit that will replace the companies' $75 million deal, which was to have expired Oct. 21. NHC CEO Robert Adams says the new line will let his team complete the roughly $170 million redemption of their preferred shares while continuing to invest in their regular businesses. The credit line will mature on five years.
Shares of Murfreesboro-based NHC (Ticker: NHC) are changing hands this morning around $63.30, flat on the day and for the year.
Murfreesboro-based National HealthCare Corp. will break ground this week on a 112-bed skilled nursing center in Maury County.
The new Columbia facility is a joint venture between NHC and Maury Regional Medical Center and represents an $18 million investment. Last October, NHC began work on a similar facility in Bellevue. NHC Place at the Trace is expected to open next spring.
Shares of NHC (Ticker: NHC) were $62.80 Monday afternoon. Year to date, they're flat.
Murfreesboro-based National HealthCare Corp. has partnered with Collain Healthcare, a Texas electronic health care record company.
Through the deal, terms of which were not disclosed in a release, NHC will deploy Collain's EHR solutions at the company's skilled nursing operations. NHC and Collain, a LG CNS company, are also collaborating on an integrated EHR for home care operations.
"As our nation's health care system evolves, we recognized three major business needs: to create efficiencies to optimize resources for focusing on quality; to coordinate care up and down the continuum; and to make care more predictive and proactive," Stephen Flatt (pictured), NHC president, said in the release. "Working closely with LG CNS, we look forward to achieving these goals in addition to a great customer experience supported by quality outcomes."
Shares of NHC (Ticker: NHC) were up to $63.93 Tuesday at the close of the market. Year to date, shares are essentially flat.
The board of National HealthCare Corp. has voted to boost the nursing home operator's quarterly dividend to 40 cents per common share. That's up almost 18 percent from last quarter and will lift the yield of NHC (Ticker: NHC) above 2.5 percent. Word of the hike came shortly after NHC executives reported first-quarter profits that were flat versus a year earlier. The new dividend will be paid Sept. 1 to shareholders of record on June 30.
Long-term health care provider National HealthCare Corp. earned a profit of $14.8 million in the fourth quarter, which was down almost 11 percent from the last three months of 2013. Revenues rose 9 percent to $226 million but costs rose a little bit faster and non-operating income fell almost $1.3 million year over year. NHC officials said that excluding that drop as well as operating losses from newly built or leased skilled nursing facilities would have left pre-tax profits up almost 4 percent. NHC shares (Ticker: NHC) closed last week at $63.17 and are flat year to date.
POSTDATA: WARRANTY DEEDS