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:4/26/2017)... ... ... RawTrition now brings you BioEnergy which is a powder capsule whole food ... RawTrition is taking nutrients to the next level! The superfoods in RawTrition's BioEnergy ... (unlike the synthetically made options that are on the market). , Founder of RawTrition, ...
(Date:4/25/2017)... ... April 25, 2017 , ... Bellus Medical, a leader in ... a new class of photodynamic cosmetics (PDC). , Allumera® is the first PDC ... signs of aging, and minimize the appearance of pores – all with minimal ...
(Date:4/25/2017)... ... April 25, 2017 , ... As ... decision-makers are preparing for how his administration could impact the employee benefits industry. ... what changes are most likely to make it through Congress. His discussion will ...
(Date:4/25/2017)... ... 2017 , ... As pharmaceutical companies are held to increasingly ... innovation in drug formulation and manufacturing. CoreRx offers its clients more than ... support of their development and manufacturing goals. , The company was created ...
(Date:4/25/2017)... ... April 25, 2017 , ... Somnoware, a leading ... patient care management module. Using this new feature, sleep physicians can now predict ... on continuous positive airway pressure (CPAP), oral, or other forms of sleep apnea ...
Breaking Medicine News(10 mins):
(Date:4/19/2017)... April 19, 2017 Global Prostate Cancer ... on the prostate cancer therapeutics market analyzes the ... Increasing prevalence of prostate cancer, launch of promising ... development of new drugs & therapeutic biological products, ... due to lesser side effects are some of ...
(Date:4/19/2017)... The Global Effective Microorganisms (EM) Market ... has covered and analysed the potential of Global Effective Microorganisms ... shares and growth factors. The report identifies and analyses the ... the global market. ... 152 Tables and Figures, 6 Major Company Profiles, spread across ...
(Date:4/19/2017)... -- Companion animal vaccines are ... such as canine, avian and feline. ... as Attenuated Live Vaccines, Conjugate Vaccines, Inactivated Vaccines, ... Vaccines. Attenuated live vaccines are derived from disease-causing ... been weakend under laboratory conditions. Conjugate vaccines are ...
Breaking Medicine Technology: