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Stock Market & Financial Investment News

News Breaks
July 23, 2014
16:26 EDTADKAdCare announces strategic plan to transition to a facilities holding company
AdCare Health Systems announced that the board has approved, and management has begun to implement, a strategic plan to transition the company to a healthcare property holding and leasing company. Through a series of leasing transactions, the operations of the company's currently owned and operated healthcare facilities, which are principally skilled nursing facilities, will be transitioned to third parties, and the properties AdCare leases will be sub-leased. The board believes this new business model will help the company unlock shareholder value by reducing risk, enhancing cash flow and enabling the company to return cash to shareholders through a quarterly dividend. Under the strategic plan, the company expects through headcount reductions and other expense-reducing efforts, G&A will be significantly reduced, a significant improvement in earnings before taxes and existing net operating losses of approximately $25.8M will be available to offset future taxable income.
News For ADK From The Last 14 Days
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October 15, 2014
08:04 EDTADKAdCare shareholders approve plan for transition to facilities holding company
AdCare's shareholders approved certain leasing transactions, effectively authorizing AdCare to pursue the previously announced strategic plan to transition the company to a healthcare property holding and leasing company. Through a series of leasing transactions, the operations of the company's currently owned and operated healthcare facilities are in the process of being transitioned to third parties, and the properties AdCare leases will be sub-leased. To date, the company has leased two facilities in Alabama and another in Georgia, and refinanced two additional properties. Also, Mr. Brent Morrison, previously a non-voting board observer, has been named to the AdCare's Board of Directors.
October 14, 2014
05:56 EDTADKAdCare to host special shareholder meeting
Special shareholder meeting to approve certain leasing transactions, will be held in Atlanta on October 14 at 10 am.
October 13, 2014
16:02 EDTADKAdCare names William McBride III as president, CEO
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