Omega Provides Hurricane Update
September 19 2017 - 6:22PM
Business Wire
Omega Healthcare Investors, Inc. (NYSE:OHI) (the “Company” or
“Omega”), the nation’s largest owner of post-acute care facilities,
today provided this update on the impact of Hurricane Harvey and
Hurricane Irma on Omega’s facilities:
Hurricane Irma. The Company has 99 facilities located in
Florida operated by 11 tenants. The Company’s operators evacuated
16 facilities that were in the path of Hurricane Irma. Only minor
flooding and damage has been reported and all 16 facilities have
resumed re-admitting residents. None of Omega’s facilities outside
Florida were evacuated or experienced loss of power or damages
related to Hurricane Irma.
Hurricane Harvey. As previously announced, two Texas
facilities that were within the proximity of Hurricane Harvey’s
path were evacuated. Both facilities located along the Sabine River
are now accepting residents and incurred only minor damages.
Commenting on Omega’s tenants related to the hurricanes, Omega’s
Chief Operating Officer, Dan Booth said, “During the course of the
last several weeks, our country has been massively affected by two
natural disasters in the form of Hurricane Harvey and Hurricane
Irma.” Mr. Booth continued, “Our operating partners in the Gulf
Coast, particularly those in Texas, Louisiana and Florida, were
confronted with extraordinary challenges as numerous facilities
encountered evacuations, power outages and interruptions in the
delivery of vital services and supplies. We are extremely proud of
our operating partners, and are particularly appreciative to those
caregivers that sacrificed their own well-being to care for and
protect their residents.”
Omega is a real estate investment trust investing in and
providing financing to the long-term care industry. As of June 30,
2017, Omega has a portfolio of investments that includes
approximately 1,000 properties located in 42 states and the United
Kingdom and operated by 77 different operators.
This press release includes forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements regarding Omega’s or its tenants’,
operators’, borrowers’ or managers’ expected future financial
condition, results of operations, cash flows, funds from
operations, dividends and dividend plans, financing opportunities
and plans, capital markets transactions, business strategy,
budgets, projected costs, operating metrics, capital expenditures,
competitive positions, acquisitions, investment opportunities,
dispositions, merger integration, growth opportunities, expected
lease income, continued qualification as a REIT, plans and
objectives of management for future operations and statements that
include words such as “anticipate,” “if,” “believe,” “plan,”
“estimate,” “expect,” “intend,” “may,” “could,” “should,” “will”
and other similar expressions are forward-looking statements. These
forward-looking statements are inherently uncertain, and actual
results may differ from Omega’s expectations. Omega does not
undertake a duty to update these forward-looking statements, which
speak only as of the date on which they are made.
Omega’s actual results may differ materially from those
reflected in such forward-looking statements as a result of a
variety of factors, including, among other things: (i)
uncertainties relating to the business operations of the operators
of Omega’s properties, including those relating to reimbursement by
third-party payors, regulatory matters and occupancy levels; (ii)
regulatory and other changes in the healthcare sector; (iii)
changes in the financial position of Omega’s operators; (iv) the
ability of any of Omega’s operators in bankruptcy to reject
unexpired lease obligations, modify the terms of Omega’s mortgages
and impede the ability to collect unpaid rent or interest during
the pendency of a bankruptcy proceeding and retain security
deposits for the debtor's obligations; (v) the availability and
cost of capital; (vi) changes in Omega’s credit ratings and the
ratings of its debt securities; (vii) competition in the financing
of healthcare facilities; (viii) Omega’s ability to maintain its
status as a REIT; (ix) Omega’s ability to manage, re-lease or sell
any owned and operated facilities, if any; (x) Omega’s ability to
sell closed or foreclosed assets on a timely basis and on terms
that allow Omega to realize the carrying value of these assets;
(xi) the effect of economic and market conditions generally, and
particularly in the healthcare industry; (xii) the potential impact
of changes in the SNF and ALF market or local real estate
conditions on the Company’s ability to dispose of assets held for
sale for the anticipated proceeds or on a timely basis, or to
redeploy the proceeds therefrom on favorable terms; (xiii) the
potential impact of Hurricane’s Harvey and Irma and other extreme
weather events on our facilities on our facilities and the
financial condition of our operations; and (xiv) other factors
identified in Omega’s filings with the Securities and Exchange
Commission. Statements regarding future events and developments and
Omega’s future performance, as well as management's expectations,
beliefs, plans, estimates or projections relating to the future,
are forward looking statements. Omega undertakes no obligation to
update any forward-looking statements contained in this
announcement.
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version on businesswire.com: http://www.businesswire.com/news/home/20170919006700/en/
Omega Healthcare Investors, Inc.Bob Stephenson, CFO,
410-427-1700
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