Manor Care retains adviser to review alternatives to increase shareholder value

By Lisa Kerner

Charlotte, N.C., April 11 - Manor Care, Inc. retained JPMorgan as its financial adviser to assist in the review of strategic financial and related business alternatives to enhance shareholder value.

"HCR Manor Care continues to enjoy a very strong financial position with industry-leading health care operations," Manor Care chairman, president and chief executive officer Paul A. Ormond said in a company news release.

"Consequently, we are well-positioned to consider taking advantage of currently attractive conditions in the financial markets. We are actively evaluating a full range of opportunities for further strengthening our strategic position and maximizing value for our shareholders."

Manor Care does not expect to make further announcements regarding the review until its completion or until a specific transaction or course of action is approved, the release stated.

Toledo, Ohio-based Manor Care, through its operating group HCR Manor Care, provides short-term post-acute and long-term care.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.