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NHC Renews $75MM Credit Line With Bank of America

October 23, 2014, 07:11 AM
Filed Under: Healthcare

National HealthCare Corporation, the nation’s oldest publicly traded senior health care company,has renewed its $75 million line of credit with Bank of America.

Robert Adams, CEO, stated: “We are pleased to complete our seventh amendment to our Credit Agreement with Bank of America. The credit facility allows us the financial flexibility to continue to implement our strategy of expanding our continuum of post-acute care services, which includes skilled nursing, assisted living, homecare and hospice.”

NHC affiliates operate for themselves and third parties 73 long-term health care centers with 9,410 beds. NHC affiliates also operate 37 homecare programs, five independent living centers and 18 assisted living communities. NHC’s other services include Alzheimer’s units, long-term care pharmacies, hospice, a rehabilitation services company, and providing management and accounting services to third parties.

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