Friday, 27 March 2015
Last updated 3 hours ago
Oct 15 2007 | 7:58am ET
Ohio officials are worried that the Carlyle Group’s proposed takeover of a troubled nursing home company will condemn them to further problems.
Carlyle has agreed to pay $6.3 billion for HCR Manor Care, which runs 44 nursing homes in Ohio. HCR shareholders are set to vote on the deal on Wednesday. It would be the private equity giant’s first nursing home purchase.
“These are not the kind of nursing homes that they can just take over and keep the status quo,” Beverly Laubert of the Ohio Department of Aging told the Akron Beacon Journal. “When you have facilities with such quality problems, someone is going to have to fix them.”
HCR has been accused of failing to provide adequate care and understaffing, although the firm disputes claims that the problems are widespread. Further, HCR said staffing levels would not be cut under Carlyle’s leadership.
“We provide quality care, and we will continue to provide excellent care,” Carlyle spokesman Chris Ullman said.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…