Navigation Links
AdCare Announces the Refinancing of a Nursing Home in Ohio
Date:12/4/2007

SPRINGFIELD, Ohio, Dec. 4 /PRNewswire-FirstCall/ -- AdCare Health Systems, Inc. (Amex: ADK), an Ohio based long term care, home care and management company, today announced the refinancing of one of its nursing homes.

The Pavilion, a 50-bed nursing home facility located in Sidney, Ohio, was originally financed with an FHA Section 232/223(f) insured mortgage loan. In 2007, part of the facility was remodeled into 10 single, private bed rooms and a new therapy addition. Red Mortgage Capital, Inc., an FHA/MAP lender, processed and funded the $2,108,800 223(a)(7) refinance which reduced the mortgage interest rate and generated annual debt service savings.

David A. Tenwick, Chairman of AdCare, stated, "With interest rates becoming more favorable, the Company is in the process of evaluating all its properties to determine if refinancing is an option. With the refinancing of The Pavilion, the Company realizes a cost savings on the debt service on the new loan."

About AdCare Health Systems, Inc.

AdCare Health Systems, Inc. (Amex: ADK) develops, owns and manages assisted living facilities, nursing homes and retirement communities and provides home health care services. Prior to becoming a publicly traded company in November of 2006, AdCare operated as a private company for 18 years. AdCare's 920 employees provide high-quality care for patients and residents residing in the 15 facilities that they manage, seven of which are assisted living facilities, six skilled nursing centers and two independent senior living communities. The Company has ownership interests in seven of those facilities. In the ever expanding marketplace of long term care, AdCare's mission is to provide quality healthcare services to the elderly.

(Investor Relations website: http://www.b2i.us/irpass.asp?BzID=1540&to=ea&s=0)

Safe Harbor Statement

Statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of federal law. Such forward-looking statements reflect management's beliefs and assumptions and are based on information currently available to management. The forward- looking statements involve known and unknown risks, results, performance or achievements of the Company to differ materially from those expressed or implied in such statements. Such factors are identified in the public filings made by the Company with the Securities and Exchange Commission and include the Company's ability to secure lines of credit and/or an acquisition credit facility, find suitable acquisition properties at favorable terms, changes in the health care industry because of political and economic influences, changes in regulations governing the industry, changes in reimbursement levels including those under the Medicare and Medicaid programs and changes in the competitive marketplace. There can be no assurance that such factors or other factors will not affect the accuracy of such forward-looking statements.


'/>"/>
SOURCE AdCare Health Systems, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. AdCare Health Systems, Inc. Reports Discontinuation of Definitive Merger Agreement with Family Home Health Services, Inc.
2. AdCare Health Systems, Inc. Announces 2007 Third Quarter Earnings Release and Conference Call Schedule
3. HHS Announces $75 Million in Supplemental Funding to States for Pandemic Flu Preparedness
4. CRC Health Group Announces Acquisition of Bayside Marin Recovery Center, San Rafael
5. UHW Announces: Antelope Valley Hospital Caregivers and Board Vote to Ratify First Union Contract With SEIU UHW-West
6. HEI, Inc. Announces Sale of RFID Division Assets
7. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Approval to Market Generic Version of Zyloprim(R)
8. Mettler-Toledo International Inc. Announces Webcast of Presentation at Thomas Weisel Partners 2007 Healthcare Conference
9. Z Trim Announces Revocation of Gregory Halpern Severence Agreement
10. Brooke Franchise Corporation Announces Selected July Results
11. Manor Care, Inc. Announces Record Date for Special Stockholder Meeting
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/24/2017)... ... May 24, 2017 , ... Medic CE , a Career Step company, ... Septic Shock” hosted by the Journal of Emergency Medical Services (JEMS). The free webinar, ... be presented by Captain Rommie Duckworth, LP, a career fire captain as well as ...
(Date:5/24/2017)... ... ... you are thinking of a visit to San Francisco , fall is a great ... to visit. , Business Architecture Associates is pleased to offer 5 days of training courses, ... day package for individuals, and as 4-½ day corporate package for up to 3 employees ...
(Date:5/24/2017)... ... , ... Rob Lowe is a sought after actor, and also serves as ... public important topics from all aspects of life, and a new segment is being ... and ankles. , Podiatry is essential to people’s overall well-being, and if viewers have ...
(Date:5/24/2017)... Falls, Wisconsin (PRWEB) , ... May 24, 2017 ... ... leader in clean label food ingredient solutions for the food and beverage industry ... factor in food ingredient statements during the purchasing decision process. As a result, ...
(Date:5/24/2017)... ... May 24, 2017 , ... ... (PVDF) based sleep diagnostics sensors, announced today it had completed the first phase ... a mix of domestic and rest of world (ROW) authorized dealers specializing in ...
Breaking Medicine News(10 mins):
(Date:5/10/2017)... , May 10, 2017 Global Health Intelligence ... Latin America , published its 2017 ranking of ... is based on extensive data analysis from GHI,s hospitals ... hospitals database for the region. The GHI database covers 86% ... offering more than 130 data points for each institution in ...
(Date:5/9/2017)... WASHINGTON , May 9, 2017  Demonstrating ... the board of directors for the Pharmaceutical Research ... criteria for membership. Biopharmaceutical companies will now have ... in order to be eligible to join PhRMA. ... criteria, the board is sending a clear message ...
(Date:5/6/2017)... , May 5, 2017   Provista , a ... more than 200,000 customers, today announced Jim Cunniff ... wealth of executive and business experience to Provista, including most ... pharmacy in California . He assumed his ... "Jim is a great fit for Provista," says Jody ...
Breaking Medicine Technology: