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Manor Care Shareholders Vote to Approve $6.3 Billion Carlyle Buyout
Date:10/17/2007

Hundreds of Nursing Home Workers From Across the Nation Rally for Improved Nursing Home Care

Caregivers, senior advocates to travel by caravan from Toledo, Ohio to Washington, DC to highlight concerns over private equity takeover of nation's largest nursing home chain; Wash., DC rally set for Oct 22

TOLEDO, Ohio, Oct. 17 /PRNewswire-USNewswire/ -- More than two hundred nursing home caregivers from across the nation, senior advocates and elected leaders rallied today outside the Toledo headquarters of the nation's largest nursing home chain, HCR Manor Care, as shareholders voted today to approve a $6.3 billion buyout by the Carlyle Group. The demonstrators raised concerns that the buyout could come at a high cost to seniors, taxpayers, and workers. The deal is expected to close by the end of year.

Two members of the group went inside the shareholders meeting as proxies -- SEIU District 1199 President Dave Regan and Carol Lafferty, a nursing aide at a Manor Care facility in Beckley, West Virginia. Regan addressed Manor Care management and shareholders, calling on them to make specific commitments to work with the Carlyle Group to improve care and ensure safe staffing as part of the deal. Manor Care CEO Paul Ormond refused to answer or was unresponsive to questions raised about the deal.

"Manor Care shareholders and executives will do very well for themselves in this deal -- we are concerned the interests of other nursing home stakeholders are at risk," said Regan, who heads SEIU District 1199, a union with more than 28,000 health care, social service and public sector members across Ohio, West Virginia, and Kentucky. "Quality problems and short staffing at Manor Care homes across the country are putting nursing home residents at risk. Carlyle and Manor Care should commit to making improvements or this will be a raw deal for seniors, taxpayers and workers."

A recent front page expose by the New York Times detailed how cuts to staffing and operations at nursing homes bought by private equity firms across the country have enriched top executives and buyout firms but left nursing home residents worse off. Read the article at http://www.nytimes.com/2007/09/23/business/23nursing.html?_r=2&n=Top/Refere nce/Times%20Topics/People/D/Duhigg,%20Charles&oref=slogin&oref=slogin.

Go to http://www.behindthebuyouts.org/media-center/ to read the release in its entirety.


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SOURCE Service Employees International Union
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