Summit Care to Buy Nursing Center in Texas
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Summit Care Corp., a Burbank-based operator of nursing homes, said it has agreed to buy a 206-bed nursing center in Woodlands, Tex., for about $7.62 million in cash and long-term notes. The transaction is subject to final approval of financing arrangements and other contractual terms.
Summit Care operates 18 skilled-nursing care centers and four retirement centers in California and Texas.
Summit Care is 51.8% owned by Burbank-based Summit Health Ltd., which earlier this month agreed to be bought by Ornda HealthCorp in a $375-million deal.
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