Navigation Links
Report to Detail How Manor Care Buyout by The Carlyle Group Could Hamper Care for Florida Nursing Home Residents
Date:11/6/2007

New research to detail how $400 million in new interest expense from

Carlyle deal could harm Florida nursing home residents

MIAMI, Nov. 6 /PRNewswire/ --

WHAT: On the day that the Manor Care nursing home chain tells the SEC

that it expects to close its $6.6 billion buyout deal with the

Carlyle Group, Florida senior care advocates, caregivers, and

community members will hold a press conference to call for

regulators to fully investigate the impact of the takeover, which

involves millions in taxpayer money.

WHY: New research released at the rally will detail how a massive new

debt load from the deal could have serious impacts on the lives of

Florida state nursing home residents if costs are cut to cover

interest payments on that debt. Cost cutting and reduced staffing

could potentially cause longer waits for care and less attention to

residents' needs. Manor Care runs 29 nursing homes in Florida.

Members of Congress in Washington will soon be holding hearings

about the Carlyle takeover of Manor Care and elected officials in

at least six states are calling for similar hearings. Advocates are

calling on regulators to slow down the process of licensing the

Carlyle Group until the hearings and their findings are complete.

WHEN: Wednesday, November 7, 2007 at 4:00pm

WHERE: 5725 NW 186TH ST, HIALEAH, FL 33015

WHO: Senator Frederica Wilson; Monica Russo, President SEIU Florida

Healthcare; Representatives from Seacrest Nursing Home Employee;

the Association of Retired Americans and the Florida Consumer

Action Network

BACKGROUND: In a recent front page expose (9/23/07), The New York Times

investigated what happens to nursing home quality of care

when the parent companies are bought out by private equity

firms. The Times found that among other concerns there have

been serious quality of care deficiencies and staffing cuts,

sometimes below federally recommended levels.

HCR Manor Care, based in Toledo, Ohio, is the largest nursing home provider in the country, with more than 37,000 resident beds nationwide and $3.6 billion in annual revenue. With more than $71 billion in assets under management, the Carlyle Group is one of the five largest corporate buyout firms in the nation. Carlyle is taking over Manor Care in a leveraged buyout deal worth $6.3 billion.


'/>"/>
SOURCE SEIU Florida Healthcare
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. Virginia Tech Report Has National Importance
2. New Study Reports High Injury Rates for Hotel Workers, Even Higher Rates for Women and Nonwhites
3. GAO Report Confirms: Medicare Underpays for Anesthesia Services; Nurse Anesthetists Assure Seniors Access to Safe Anesthesia Care
4. Haemacure Reports Third Quarter 2007 Results
5. Report on patients access to cancer drugs uses flawed methods to reached flawed conclusions
6. Biotech Finishes on a High in August, Burrill Report Says
7. First-Ever List of the 5,000 Fastest-Growing Businesses Reports Total Revenue of $194.5 Billion
8. Consumer Reports Analysis: Drugs for Nerve Pain, Fibromyalgia Effective, But Not Always Best
9. MDS Reports Third Quarter 2007 Results
10. First New York/New Jersey Health Care Report Card Released
11. Authentidate Holding Corp. to Report Fourth Quarter and Fiscal 2007 Year End Results on Thursday, September 13, 2007
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/26/2016)... ... June 27, 2016 , ... Quality metrics are proliferating ... many ways they remain in the eye of the beholder, according to experts who ... of The American Journal of Managed Care. For the full issue, click here ...
(Date:6/26/2016)... Orion, Clarkston, Michigan (PRWEB) , ... June 26, ... ... with respect to fertility once they have been diagnosed with endometriosis. These women ... intercourse but they also require a comprehensive approach that can help for preservation ...
(Date:6/25/2016)... ... June 25, 2016 , ... First Choice Emergency Room ... Dr. Sesan Ogunleye, as the Medical Director of its new Mesquite-Samuell Farm facility. ... of our new Mesquite location,” said Dr. James M. Muzzarelli, Executive Medical Director of ...
(Date:6/24/2016)... ... , ... A recent article published June 14 on E Online ... on to state that individuals are now more comfortable seeking to undergo not only ... calf and cheek reduction. The Los Angeles area medical group, Beverly Hills Physicians (BHP) ...
(Date:6/24/2016)... Fla. (PRWEB) , ... June 24, 2016 , ... Global ... Trend magazine’s 2016 Legal Elite. The attorneys chosen by their peers for this recognition ... Florida. , Seven Greenberg Traurig Shareholders received special honors as members of this year’s ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... June 24, 2016 ... announced the addition of the " Global Markets ... This report focuses ... an updated review, including its applications in various applications. ... market, which includes three main industries: pharmaceutical and biotechnology, ...
(Date:6/24/2016)... , June 24, 2016 Dehaier Medical ... the "Company"), which develops, markets and sells medical devices ... , signed a strategic cooperation agreement with Hongyuan ... "Hongyuan Supply Chain") on June 20, 2016, to develop ... the strategic cooperation agreement, Dehaier will leverage Hongyuan Supply ...
(Date:6/24/2016)... PUNE, India , June 24, 2016 ... "Pen Needles Market by Type (Standard Pen Needles, Safety ... 12mm), Therapy (Insulin, GLP-1, Growth Hormone), Mode of Purchase ... published by MarketsandMarkets, This report studies the market for ... is expected to reach USD 2.81 Billion by 2021 ...
Breaking Medicine Technology: