Navigation Links
Sunrise Responds to HCP Announcement
Date:6/29/2009

Believes Litigation is without Merit; Continues Management of 75 HCP Communities

MCLEAN, Va., June 29 /PRNewswire-FirstCall/ -- Sunrise Senior Living, Inc. (NYSE: SRZ) learned today that HCP has filed complaints against Sunrise and certain of its subsidiaries in the Delaware Chancery Court alleging a variety of breaches of contract and certain fiduciary duty with respect to 64 HCP-owned communities managed by Sunrise.

"HCP purchased these communities under long-term management contracts with many years remaining. The communities have steadily improved their performance yet HCP has continually expressed their desire to terminate their agreements," said Mark Ordan, Sunrise's chief executive officer. "We see today's announcement as just another attempt to unlawfully terminate our agreements and we will enforce our rights vigorously on behalf of all Sunrise stakeholders. We are proud of the care and service we deliver to all of our residents and families, and we look forward to continuing to serve these communities."

The majority of Sunrise's management agreements with HCP have expiration dates ranging from 2028 to 2038 and include extension options held by Sunrise.

About Sunrise Senior Living

Sunrise Senior Living, a McLean, Va.-based company, employs approximately 40,000 people. As of May 8, 2009, Sunrise operated 411 communities in the United States, Canada, Germany and the United Kingdom, with a combined unit capacity of approximately 42,000 units. Sunrise offers a full range of personalized senior living services, including independent living, assisted living, care for individuals with Alzheimer's and other forms of memory loss, as well as nursing and rehabilitative services. Sunrise's senior living services are delivered by staff trained to encourage the independence, preserve the dignity, enable freedom of choice and protect the privacy of residents. To learn more about Sunrise, please visit http://www.sunriseseniorliving.com.


'/>"/>
SOURCE Sunrise Senior Living, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Sunrise to Transition from Management of EdenCare Communities
2. Sunrise Senior Living Communities to Show HBOs The Alzheimers Project
3. Sunrise Reports Financial Results for First-Quarter 2009
4. Sunrise to Host Conference Call and Webcast to Discuss First-Quarter 2009 Financial Results
5. Sunrise Signs Twelfth Amendment to Bank Credit Facility through December 2, 2009
6. All Persons Who Purchased or Acquired the Common Stock of Sunrise Senior Living, Inc. (Sunrise) Between February 26, 2004 and July 28, 2006, Inclusive, and Were Damaged Thereby (The Class)
7. Sunrise Reports Financial Results for Fourth Quarter and Full-Year 2008
8. Sunrise to Host Conference Call and Webcast to Discuss Fourth-Quarter and Full-Year 2008 Financial Results
9. Sunrise Senior Living Helps Families Explore Senior Care Financing Options with New Guide
10. Sunrise Receives Proceeds from Venture Refinancing
11. Sunrise Reports Financial Results for Third Quarter 2008
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/26/2016)... Michigan (PRWEB) , ... June 26, 2016 , ... ... to fertility once they have been diagnosed with endometriosis. These women need a ... they also require a comprehensive approach that can help for preservation of fertility ...
(Date:6/25/2016)... ... ... Austin residents seeking Mohs surgery services, can now turn to Dr. Jessica Scruggs ... for medical and surgical dermatology. , Dr. Dorsey brings specialization to include Mohs surgery, ... Micrographic Surgery completed by Dr. Dorsey was under the direction of Glenn Goldstein, MD, ...
(Date:6/25/2016)... (PRWEB) , ... June 25, 2016 , ... "With 30 ... their specific project," said Christina Austin - CEO of Pixel Film Studios. , ... and all within Final Cut Pro X . Simply select a ProHand generator ...
(Date:6/25/2016)... ... 2016 , ... As a lifelong Southern Californian, Dr. Omkar Marathe earned his ... David Geffen School of Medicine at UCLA. He trained in Internal Medicine at Scripps ... in hematology/oncology at the UCLA-Olive View-Cedars Sinai program where he had the opportunity to ...
(Date:6/25/2016)... ... ... Friday, June 10, Van Mitchell, Secretary of the Maryland Department of Health and Mental ... exemplary accomplishments in worksite health promotion. , The Wellness at Work Awards took place ... BWI Marriott in Linthicum Heights. iHire was one of 42 businesses to receive an ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... , June 23, 2016 Research ... MEMS Devices Medical Market Analysis 2016 - Forecast to 2022" ... The report contains up to date financial data ... analysis. Assessment of major trends with potential impact on the ... analysis of market segmentation which comprises of sub markets, regional ...
(Date:6/23/2016)... DUBLIN , June 23, 2016 ... "Key Pharma News Issue 52" report to their offering. ... need in influenza treatment creates a favourable commercial environment for ... and growing patient base that will serve to drive considerable ... flu vaccine would serve to cap sales considerably, but development ...
(Date:6/23/2016)... Calif. , June 23, 2016 ... CST on Thursday, July 7, 2016 , , , , ... ) , , , , EXPERT PANELISTS:  , , ... Naik; Senior Industry Analyst, Christi Bird; Senior Industry Analyst, Divyaa Ravishankar ... The global pharmaceutical industry is witnessing an exceptional ...
Breaking Medicine Technology: