Beverly Enterprises, Inc. (NYSE: BEV) yesteday announced the sale of 21 skilled nursing facilities in California, Washington and Arizona. The sale reflects Beverly's continuing commitment to strengthen its portfolio of skilled nursing facilities, significantly reduce its total projected patient care liability costs and strategically align its operations.
The facilities - which were expected to generate about $100 million in revenue in 2003 - were sold to Heritage Management, Inc., a Salt Lake City-based privately held operator of skilled nursing facilities. The sale price is not being disclos...
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