Balanced Care Announces Restructuring Update

Apr 02, 2001, 01:00 ET from Balanced Care Corporation

    MECHANICSBURG, Pa., April 2 /PRNewswire/ -- Balanced Care Corporation
 (Amex:   BAL) announced today the engagement of Raymond James & Associates, Inc.
 to serve as its financial advisor.  Raymond James will assist the Company in
 identifying and evaluating sources of debt and equity capital necessary for
 the Company to complete its restructuring plan and in exploring strategic
 alternatives available to the Company and its stockholders.
     Balanced Care operates 57 facilities with system-wide capacity of 3,866
 residents.  When an additional facility currently under construction is in
 operation, the Company will operate 58 facilities with resident capacity of
 3,972.
     Balanced Care Corporation utilizes assisted living facilities as the
 primary service platform to provide an array of health care and hospitality
 services, including preventive care and wellness, medical rehabilitation,
 Alzheimer's/dementia care and, in certain markets, extended care services.
     Except for the historical information contained in the press release, the
 matters discussed herein contain forward-looking statements that are subject
 to certain risks and uncertainties that could cause actual results to differ
 materially from expectations.  These include risks associated with, among
 other things, substantial debt and operating lease payment obligations,
 managing rapid expansion, the need for additional financing, the possibility
 of rising interest rates, securing necessary licensing and permits,
 construction delays, cost increases on new construction and increased
 competition.  These and other risks are set forth in the Company's Annual
 Report on Form 10-K (as amended) for the fiscal year ended June 30, 2000 and
 other reports filed with the Securities and Exchange Commission.
 
 

SOURCE Balanced Care Corporation
    MECHANICSBURG, Pa., April 2 /PRNewswire/ -- Balanced Care Corporation
 (Amex:   BAL) announced today the engagement of Raymond James & Associates, Inc.
 to serve as its financial advisor.  Raymond James will assist the Company in
 identifying and evaluating sources of debt and equity capital necessary for
 the Company to complete its restructuring plan and in exploring strategic
 alternatives available to the Company and its stockholders.
     Balanced Care operates 57 facilities with system-wide capacity of 3,866
 residents.  When an additional facility currently under construction is in
 operation, the Company will operate 58 facilities with resident capacity of
 3,972.
     Balanced Care Corporation utilizes assisted living facilities as the
 primary service platform to provide an array of health care and hospitality
 services, including preventive care and wellness, medical rehabilitation,
 Alzheimer's/dementia care and, in certain markets, extended care services.
     Except for the historical information contained in the press release, the
 matters discussed herein contain forward-looking statements that are subject
 to certain risks and uncertainties that could cause actual results to differ
 materially from expectations.  These include risks associated with, among
 other things, substantial debt and operating lease payment obligations,
 managing rapid expansion, the need for additional financing, the possibility
 of rising interest rates, securing necessary licensing and permits,
 construction delays, cost increases on new construction and increased
 competition.  These and other risks are set forth in the Company's Annual
 Report on Form 10-K (as amended) for the fiscal year ended June 30, 2000 and
 other reports filed with the Securities and Exchange Commission.
 
 SOURCE  Balanced Care Corporation