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August 31, 2015 9:41 AM ET

Healthcare Providers and Services

Company Overview of HCR ManorCare, Inc.

Company Overview

HCR ManorCare, Inc. and its subsidiaries provide a range of health care services in the United States. Its services include post-acute care, skilled nursing care, assisted living, hospice care, home health care, and rehabilitation therapy. The company provides medical and rehabilitation services in the areas of joint replacement, orthopedic injuries, stroke and neurological conditions, cardiac-related problems, pulmonary impairment, diabetes management, post-surgery recovery, wound care, and oncology care; and infusion therapy care services for patients with various medical conditions, including cancer, serious infection, GI disease, chronic pain, immune disorder, and neurological disease. I...

333 North Summit Street

Toledo, OH 43604

United States

Founded in 1991

Phone:

419-252-5500

Fax:

419-252-6404

Key Executives for HCR ManorCare, Inc.

Chairman of the Board, Chief Executive Officer and President
Age: 65
Chief Financial Officer and Vice President
Age: 44
Vice President, Secretary and General Counsel
Age: 56
Principal Accounting Officer, Controller and Vice President
Age: 67
Vice President, Director of Marketing and General Manager of Midwest Division
Age: 72
Compensation as of Fiscal Year 2015.

HCR ManorCare, Inc. Key Developments

HCR ManorCare Announces Earnings Results for the Six Months of 2015

HCR ManorCare announced earnings results for the six months of 2015. normalized year-to-date EBITDAR results are 2.6% above prior year.

The United States Department of Justice Files Complaint against HCR ManorCare, Inc

The United States Department of Justice (DOJ) filed a complaint on April 20, 2015, against HCR ManorCare, Inc. and certain of its affiliates (collectively HCRMC). The DOJ's complaint follows a civil investigation of three previously-sealed lawsuits filed by former employees of HCRMC under the qui tam provisions of the federal False Claims Act. The United States intervened against HCRMC in the parts of the civil actions alleging that they submitted claims to Medicare for therapy services that were not covered by the skilled nursing facility benefit, were not medically reasonable and necessary, were not skilled in nature, and therefore not entitled to Medicare reimbursement. The cases are consolidated in the United States District Court for the Eastern District of Virginia. The DOJ complaint relates to the previously disclosed Civil Investigative Demand and related requests for information regarding HCRMC's skilled nursing facilities coordinated by the DOJ. The government's case against HCRMC is one of several brought in the past few years against skilled nursing facility operators alleging the provision of unnecessary rehabilitation therapy. Since the case is at a preliminary stage, the ultimate outcome is uncertain.

HCR ManorCare to Open its 100th MedBridge Unit

HCR ManorCare developed MedBridge as a unique unit within its skilled nursing and rehabilitation facilities to provide a level of specialized care for patients that helps speed their transition home. In the month of April 2015, HCR ManorCare will launch its 100th MedBridge unit within the company's ManorCare Health Services–Wheaton, Maryland skilled nursing and rehab center, with plans to launch several more MedBridge units in the next few months. HCR ManorCare announced that the only post-hospital program that is based on a set of unique criteria that must be met before a center achieves certification and the right to use the MedBridge name. Criteria include attaining physical and clinical standards, as well as meeting or exceeding targets such as percentage of patients returned home, reduction in re-hospitalizations and patient satisfaction.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
August 1, 2015
River Oaks
Merger/Acquisition
March 30, 2015
HCR ManorCare, Inc., Nine Specified Facilities
 

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