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:2/24/2017)... ... 2017 , ... The Smart Machine Age is here, and it’s disrupting everything. ... of all jobs in the United States may be taken over by technology in ... aggressive know-it-all who steamrolls over colleagues is drawing to a close. Success will belong ...
(Date:2/24/2017)... ... February 24, 2017 , ... With ProGlass Prism users ... X . Users have total control over position, rotation, distortion, edge softness, edge blur, ... Final Cut Pro X. , With ProGlass Prism users are given the tools ...
(Date:2/24/2017)... ... February 24, 2017 , ... The Radiology Business Management Association will ... at the annual Building Better Radiology Marketing Programs conference, held this year ... Worth, Texas. Nine awards are given out in five categories. They are:, ...
(Date:2/23/2017)... (PRWEB) , ... February 23, 2017 , ... ... Department of Justice jointly issued a letter to withdraw previous guidance ... with their gender identity. The guidance issued in May 2016 by the Obama ...
(Date:2/23/2017)... ... 2017 , ... Los Angeles-based weight loss surgeon Michael Feiz, M.D., F.AC.S. will ... to Hot,” which will begin airing on February 24, 2017. The show chronicles the ... 2012 reality television series, “Here Comes Honey Boo Boo.” The earlier series from TLC ...
Breaking Medicine News(10 mins):
(Date:2/24/2017)... 24, 2017 Medivir AB (Nasdaq ... a new Board of Directors that will be submitted ... Committee comprises representatives of the company,s three largest shareholders ... who have accepted a seat on the Nomination Committee, ... the 2016-2017 Nomination Committee was as follows:  ...
(Date:2/23/2017)... -- Research and Markets has announced the addition of ... 2016" report to their offering. ... The latest research Autism Spectrum Disorder Drugs ... benchmarks in the global Autism Spectrum Disorder market. The research ... the key drugs marketed for Autism Spectrum Disorder and their clinical ...
(Date:2/23/2017)... ITL Limited, ( ASX: ITD ), an innovative diversified ... year ended 31 December 2016 compared with the previous corresponding period. ... viewed here . Highlights ... Earnings per share of 2.2 cents (Dec 2015: ... 2015: $15.7m; up 11%) Profit before tax of ...
Breaking Medicine Technology: