NASHVILLE, Tenn., July 1, 2021 /PRNewswire/ -- Brookdale
Senior Living Inc. (NYSE: BKD) ("Brookdale" or the "Company"), the
nation's leading operator of senior living communities,
announced the Company completed today the sale of a majority
stake in Brookdale Health Care Services ("BHS") to HCA
Healthcare.
Lucinda "Cindy" Baier, Brookdale's President and CEO, said, "I
am delighted that we have completed the transaction with HCA
Healthcare and started a new partnership opportunity with one of
our nation's leading healthcare organizations. This transaction
strengthens Brookdale's financial position, continues providing our
residents with access to high quality services, and provides
meaningful growth opportunities for BHS." Ms. Baier added, "On
behalf of Brookdale, I'd like to express our gratitude to
Sam Hazen and his team for their
incredible support throughout this transaction. I would also like
to thank the BHS associates for their dedicated service to
Brookdale and look forward to continuing to work together through
this new venture."
Key Transaction Highlights
- Brookdale sold 80% of the equity in BHS to HCA Healthcare for a
purchase price of $400 million, which
implied a $500 million value for the
BHS business
- Brookdale retained a 20% equity interest in the venture with
HCA Healthcare
- Brookdale received approximately $300
million of cash proceeds at closing, net of customary
transaction costs and purchase price adjustments, including a
reduction for the remaining outstanding balance as of the closing
of Medicare Advance Payments and deferred payroll tax payments
related to BHS.
About Brookdale Senior Living
Brookdale Senior Living
Inc., the nation's premier operator of senior living communities,
is committed to its mission of enriching the lives of the people it
serves with compassion, respect, excellence and integrity. The
Company operates independent living, assisted living, Alzheimer's
and dementia care communities, and through its comprehensive
network of services, Brookdale helps to provide seniors with care
and services to support their lifestyle in an environment that
feels like home. The Company's expertise in healthcare, hospitality
and real estate provides our residents with opportunities to
improve wellness, pursue passions and stay connected with friends
and loved ones. The Company operates and manages 695 communities in
42 states as of March 31, 2021, with
the ability to serve approximately 60,000 residents and 16,000
patients. Brookdale's stock trades on the New York Stock Exchange
under the ticker symbol BKD. For more information, visit
brookdale.com or connect with Brookdale on Facebook or
Twitter.
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SOURCE Brookdale Senior Living Inc.