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:12/8/2016)... ... December 08, 2016 , ... Seavest Healthcare Properties ... by an affiliate of Seavest, has won a prestigious national healthcare real estate ... ambulatory care center (ACC) was named “Best New Development, MOBs and Other Outpatient ...
(Date:12/8/2016)... ... ... David J. Dykeman , Ginger Pigott , and J. Rick Taché ... Dec. 12, 2016, at the Fairmont Newport Beach in California. Greenberg Traurig is a ... & Medical Technology Group have been featured speakers at every DeviceTalks conference since 2011. ...
(Date:12/8/2016)... (PRWEB) , ... December 08, 2016 , ... ... technologies and development solutions for drugs, biologics and consumer health products, today announced ... was set up in 2006 as a non-profit organization to unite pharmaceutical and ...
(Date:12/8/2016)... ... December 08, 2016 , ... Today’s patients are encouraged to ... mind, SIGVARIS has created a new line of anti-embolism stockings to help prevent ... the benefits of graduated compression when transitioning from recovery to early rehabilitation. , ...
(Date:12/8/2016)... ... 08, 2016 , ... The Dianne Michael Insurance Agency, an ... County, is embarking on a charity drive with the aim of generating support ... orphaned or neglected senior dogs in the Cincinnati region, and LuvFurMutts volunteers also ...
Breaking Medicine News(10 mins):
(Date:12/8/2016)... 8, 2016 According to ... by Product (Actual Sugars, Sugar Alcohols, Artificial Sweeteners), ... Tonicity Agents), Formulation (Oral, Topical, Parenteral) - Global ... has witnessed healthy growth during the last decade, ... of 4.3% between 2016 and 2021 to reach ...
(Date:12/8/2016)... December 8, 2016 According to a new market ... Sleep, Fetal), Therapeutic (Pain, Insulin)), End Use (Sports, Fitness, RPM), Type (Smart ... MarketsandMarkets, the global market, in terms of value, is projected to reach ... CAGR of 18.0% during the forecast period. ... ...
(Date:12/8/2016)... , Dec. 8, 2016  Hanson Research, ... of dissolution testing and diffusion testing instruments for ... acquired by Teledyne Instruments, Inc. ("Teledyne"). The move ... line of precision testing instruments, as well as ... development of new products and services. ...
Breaking Medicine Technology: