Ga. firm announces purchase of Ark. nursing center
LITTLE ROCK (AP) - A Georgia-based health care company has announced plans to buy a skilled nursing center in Cabot.
AdCare Health Systems of Atlanta said in a news release Monday that it will purchase the unopened 70-bed facility for $6.3 million.
The company did not identify the seller and company officials did not immediately return a phone call seeking comment.
The center is described as newly constructed - but not open. AdCare said the sale is expected to be completed during the fourth quarter of the year.
AdCare said it believes the center will generate more than $8.5 million per year in revenue with help from referrals from St. Vincent North hospital in Sherwood and Baptist Health North hospital in North Little Rock.
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