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Quality Care to take over HCR ManorCare in prepackaged Chapter 11

Published 03/02/2018, 09:32 AM
© Reuters.  Quality Care to take over HCR ManorCare in prepackaged Chapter 11
QCP
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  • Under terms of the deal, all Quality Care Properties (NYSE:QCP) claims against HCR will be released in exchange for QCP's 100% equity ownership of HCR.
  • QCP will be putting its own management team in place at HCR after bankruptcy court approval, which is expected in Q2. The transaction is seen closing in Q3.
  • Source: Press Release
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