FOOTHILL RANCH, Calif., June 21, 2011 /PRNewswire/ -- Skilled Healthcare Group, Inc. (NYSE: [ SKH ]) today announced that one of its subsidiaries has agreed to acquire Altura Homecare& Rehab, a leading home health care agency serving the Albuquerque, New Mexico market. Altura, which began operations in 2006, has contracts with key insurance and managed care providers and serves patients throughout the Albuquerque metropolitan area. Chris Tapia, Altura's majority owner and operator since 2009, will continue to manage the business and be active in its operations following the closing. The parties expect the closing to occur in July 2011, subject to customary closing conditions. Skilled Healthcare expects the transaction to be slightly accretive in 2011.

"The Altura acquisition provides us with a great opportunity to expand the range of services our companies offer patients in the Albuquerque area by welcoming another established and successful home health agency to the Skilled Healthcare family," said Boyd Hendrickson, Chairman and CEO of Skilled Healthcare Group. "Under Chris' leadership, Altura has established itself as one of the premier home health agencies in the Albuquerque market, and we look forward to seeing that success continue going forward. We believe the acquisition is an important step in implementing our strategic plan to offer home health and hospice services in markets where we have a strong skilled nursing presence, and will provide growth opportunities for both Altura and our existing Albuquerque skilled nursing and hospice companies."

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 $855 million and approximately 14,600 employees as of March 31, 2011. 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, Nebraska, Nevada, New Mexico and Texas, including 74 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. The Company leases 5 skilled nursing facilities in California to a third party operator. 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 Group is available at [ www.skilledhealthcaregroup.com ].

Forward-Looking Statements

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 the anticipated timing of the transaction closing and the opportunities the transaction is expected to provide. 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 most recent Quarterly Report on Form 10-Q 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 forward-looking statements.

Investor Contact:
Skilled Healthcare Group, Inc.
Dev Ghose or Chris Felfe
(949) 282-5800

SOURCE Skilled Healthcare Group, Inc.

[ Back to top ]

RELATED LINKS
[ http://www.skilledhealthcaregroup.com ]

Contributing Sources

Market Wire

N@N

Skilled Healthcare to Acquire Leading New Mexico Home Health Care Agency

Skilled Healthcare to Acquire Leading New Mexico Home Health Care Agency