NHC

NHC Expands with White Oak Senior Living Acquisition

National Healthcare Corporation (NHC) has recently announced its acquisition of the White Oak Senior Living portfolio, marking a significant expansion in its operational footprint. The acquisition includes six skilled nursing facilities in North Carolina, three of which are continuing care retirement centers, and nine skilled nursing facilities in South Carolina, along with assisted and independent living units. This move adds 1,928 skilled nursing beds, 48 assisted living units, and 302 independent living units to NHC's current operations.

The acquisition is expected to be accretive to NHC's earnings and create long-term operational efficiencies and synergies within its operating networks. NHC's CEO, Steve Flatt, emphasized the cultural alignment between NHC and White Oak, expressing confidence in the harmonious integration of the two organizations.

White Oak, a family-owned company since 1964, is recognized for its outstanding culture and patient care. The acquisition is expected to close in the third quarter of 2024, signaling an important strategic move for NHC as it expands its offerings in the Carolinas.

NHC, already a national leader in senior care, operates 65 skilled nursing facilities with 8,421 beds, 24 assisted living communities with 1,365 units, and five independent living communities with 475 units, among other services including behavioral health hospitals, homecare agencies, and hospice agencies. This acquisition further solidifies NHC's position in the senior care industry.

As NHC continues to strengthen its presence in the Carolinas, the acquisition of the White Oak Senior Living portfolio marks a significant milestone in its growth strategy, positioning the company for enhanced service offerings and operational capabilities. As a result of these announcements, the company's shares have moved 0.4% on the market, and are now trading at a price of $105.75. For the full picture, make sure to review National HealthCare's 8-K report.

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