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AdCare Health Systems Proposes Offering of Common Stock

^{Published on 2010-06-29 13:11:09 - Market Wire}
 

SPRINGFIELD, OH--(Marketwire - June 29, 2010) - AdCare Health Systems, Inc. (NYSE Amex: [ ADK ]), an Ohio-based long-term care, home care and management company, intends to offer shares of its common stock in an underwritten public offering. C.K. Cooper & Company is acting as the sole manager for the public offering.

AdCare plans to use the net proceeds of the offering for acquisition purposes, working capital and general corporate purposes.

AdCare previously filed a registration statement, together with the accompanying base prospectus, with the Securities and Exchange Commission (SEC) on May 4, 2010, which became effective on June 23, 2010. Investors are advised to carefully consider the investment objectives, risks and expenses of AdCare before investing. The base prospectus contains certain information about AdCare and should be read carefully before investing. A prospectus supplement describing the particular terms of the offering will be filed with the SEC and will form a part of the effective registration statement. When available, copies of the prospectus supplement and accompanying base prospectus may be obtained from the SEC's website at [ www.sec.gov ] or from C.K. Cooper & Company, 18300 Von Karman Avenue, Suite 700, Irvine, California 92612, Attention: Hue Lapham/Syndicate Department, or [ hlapham@ckcooper.com ], or via fax +1-949-477-9211.

This press release does not constitute an offer to sell or solicitation of an offer to buy any securities. Any such offer may be made only pursuant to the company's prospectus for the offering and only in states in which the offering is registered or exempt from registration and by broker-dealers authorized to do so. The securities offered by the prospectus involve a high degree of risk.

About AdCare Health Systems
AdCare Health Systems, Inc. (NYSE Amex: [ ADK ]) develops, owns and manages assisted living facilities, nursing homes and retirement communities and provides home healthcare services. Prior to becoming a publicly traded company in November of 2006, AdCare operated as a private company for 18 years. AdCare's 900 employees provide high-quality care, management services and other services for patients and residents residing in 19 facilities, seven of which are assisted living facilities, 11 skilled nursing centers and one independent senior living community. The company owns eight of those facilities. In the ever-expanding marketplace of long-term care, AdCare's mission is to provide quality healthcare services to the elderly. For more information about AdCare, visit [ www.adcarehealth.com ].

Safe Harbor Statement
Statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of federal law. Such forward-looking statements reflect management's beliefs and assumptions and are based on information currently available to management, and involve known and unknown risks, results, performance or achievements of the company which may differ materially from those expressed or implied in such statements. Such factors are identified in the public filings made by the company with the Securities and Exchange Commission and include the company's ability to secure lines of credit and/or an acquisition credit facility, find suitable acquisition properties at favorable terms, changes in the health care industry because of political and economic influences, changes in regulations governing the industry, changes in reimbursement levels including those under the Medicare and Medicaid programs and changes in the competitive marketplace. There can be no assurance that such factors or other factors will not affect the accuracy of such forward-looking statements.