Health System ProMedica To Acquire ManorCare operations For $1.35 Billion

ProMedica recently announced it is planning to acquire operations of HCR ManorCare. The acquisition is for $1.35 billion, and includes assumption of net liabilities.

According to statements from the companies, the partnership will allow ProMedica immediate scale in the home health and post-acute care markets, as well as develop a more diversified business that can more effectively evolve with the health care industry. With the acquisition, ProMedica will become one of the 15 largest non-profit health systems in the United States, generating more than $7 billion in annual revenue.

ProMedica Health System, Inc. owns and operates a . . .