FOOTHILL RANCH, Calif., April 1, 2011 /PRNewswire/ -- Skilled Healthcare Group, Inc. (NYSE: SKH) today announced that its wholly owned company, The Rehabilitation Center of Omaha, LLC (RCO) has signed an operating lease for 10 years for Lindenwood Nursing Home in Omaha, Nebraska with two additional five-year extensions. The lease also provides RCO with a purchase option and the landlord with a sale option, beginning in year six of the lease. This facility, which will be renamed The Rehabilitation Center of Omaha, is located in a large metropolitan area with several acute hospitals, and has 61 skilled nursing beds and 16 assisted living units. The facility was built in 1960 with a building expansion completed in 1980 and currently runs an occupancy rate above the Company's consolidated portfolio average. RCO plans to begin building improvements, including an Express Recovery Unit™, that are expected to increase skilled mix while creating enhanced amenities and rehabilitation areas for patients.
"We are thrilled to become a part of the Omaha community and look forward to building strong relationships with patients while rehabilitating them to better health," noted Boyd Hendrickson, Chairman and CEO of Skilled Healthcare Group. "This acquisition marks the entrance into our eighth state for skilled nursing operations and fits well with our cluster market, high acuity model as well as our growth strategy to expand into new, large metropolitan markets."
About Skilled Healthcare Group, Inc.
Skilled Healthcare Group, Inc., based in Foothill Ranch, California, is a holding company with subsidiary healthcare services companies, which in the aggregate had trailing twelve month revenue of approximately $820 million and approximately 14,600 employees as of December 31, 2010. Skilled Healthcare Group and its wholly-owned companies, collectively referred to as the "Company", operate long-term care facilities and provide a wide range of post-acute care services, with a strategic emphasis on sub-acute specialty health care. The Company operates long-term care facilities in California, Iowa, Kansas, Missouri, Nevada, New Mexico and Texas, including 78 skilled nursing facilities that offer sub-acute care and rehabilitative and specialty health skilled nursing care, and 22 assisted living facilities that provide room and board and social services. In addition, the Company provides physical, occupational and speech therapy in Company-operated facilities and unaffiliated facilities. Furthermore, the Company provides hospice and home health care in Arizona, California, Idaho, Nevada, Montana and New Mexico. References made in this release to "Skilled Healthcare", "the Company", "we", "us" and "our" refer to Skilled Healthcare Group, Inc. and each of its wholly-owned companies. More information about Skilled Healthcare is available at its Web site -- www.skilledhealthcaregroup.com.
Certain statements in this release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements in connection with or related to Skilled Healthcare's future operations or financial performance and any other statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, but are not limited to, statements regarding plans to upgrade the acquired facility and the expected effects of the upgrades. These forward-looking statements are based on current expectations and projections about future events and are subject to uncertainty and changes in circumstance.
Investors are cautioned that forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties that cannot be predicted or quantified and, consequently, the actual performance of Skilled Healthcare Group, Inc. may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the factors described in Skilled Healthcare Group, Inc.'s Annual Report on Form 10-K filed with the Securities and Exchange Commission (including the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" contained therein). Any forward-looking statements are made only as of the date of this release. Skilled Healthcare Group, Inc. disclaims any obligation to update the forward-looking statements, whether as a result of new information, future events or otherwise. You are cautioned not to place undue reliance on these forward-looking statements.
Investor Contact: Skilled Healthcare Group, Inc. Dev Ghose or Shelly Hubbard (949) 282-5800