brookdale senior living inc (BKD) Key Developments
BKD Reportedly Considers Sale Of Real Estate
Apr 8 15
Brookdale Senior Living Inc. (NYSE:BKD) considering sale of real estate, says dealReporter. According to contacts, BKD is considering selling real estate to Ventas, Inc. (NYSE:VTR) or HCP, Inc. (NYSE:HCP), citing sources.
Court Dismisses Civil Case against Brookdale Senior Living Alleging Medicare Fraud
Apr 4 15
Court dismissed a civil case against Brookdale Senior Living alleging Medicare fraud. The U.S. District Court for the Middle District of Tennessee dismissed the case brought by a former employee. Marjorie Prather, a utilization review nurse for Brookdale from September 2011 through November 2012, contends the company's audit and billing procedure on backlogged claims violated the federal False Claims Act. The charges were originally filed under seal in 2012 so the federal government could decide whether it wanted to bring a case against Brookdale. After the government declined to get involved, Prather brought a civil case against the company.
Brookdale Plans $849 Million Acquisition Through Joint Venture with HCP
Mar 17 15
Brookdale announced that it has signed a definitive agreement to buy 35 senior housing communities for $849 million through a joint venture with HCP. Brookdale, which partnered with HCP on a $1.2 billion joint venture in the fall, will own only 10% of the portfolio, with HCP taking ownership of the rest. The facilities, located in eight states with concentrations in Florida, Texas and Colorado, are currently owned by Chartwell Retirement Residences, but have been operated by Brookdale since 2011 after its acquisition of Horizon Bay. The deal is expected to close in the third quarter of this year.
Brookdale Senior Living Considering Multiple Strategic Alternatives
Mar 16 15
Brookdale Senior Living Inc. (NYSE:BKD) is considering multiple strategic alternatives. Brookdale's Board, the Investment Committee of the Board and management team, working together with their legal and financial advisors, are continuing to explore options and alternatives associated with the Company's significant owned real estate portfolio, which began prior to the Company's acquisition of Emeritus in 2014. This comprehensive review is active and ongoing and is considering, among other things, the significant financial flexibility, potential value creation opportunities and tax mitigation strategies that real estate ownership affords the Company. It is a complex process, and there are no assurances that this review will result in any transaction or change to the Company's strategy or corporate structure.
Brookdale Senior Living Inc. Presents at Barclays Global Healthcare Conference, Mar-11-2015 03:20 PM
Mar 7 15
Brookdale Senior Living Inc. Presents at Barclays Global Healthcare Conference, Mar-11-2015 03:20 PM. Venue: Loews Miami Beach Hotel, 1601 Collins Avenue, Miami, Florida, United States. Speakers: T. Andrew Smith, Chief Executive Officer and Director.