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Skilled Healthcare Group Expands With Kansas Assisted Living Facilities

Posted on: Friday, 12 September 2008, 18:00 CDT

Skilled Healthcare Group, Inc. (NYSE: SKH) today announced that it has entered into an agreement to acquire seven Assisted Living Facilities in Kansas from Medicalodges for an aggregate of $8.8 million. Following the acquisition, the facilities will be operated by its subsidiaries under the Vintage Park name. The purchase is expected to close in early September 2008. The Company expects the acquisition to be modestly accretive to earnings per share for the remainder of 2008.

"We plan to build upon the strong history of Medicalodges' operations of these centers, and compliment the operations with our successful Vintage Park Assisted Living model," commented Boyd Hendrickson, Chief Executive Officer of Skilled Healthcare Group, Inc. "We are fortunate to have very strong local management for the Vintage Park centers, and we look forward to bringing these centers and their quality staffs into the Vintage Park group and becoming active members of the communities they will serve," Hendrickson added.

"Medicalodges has a 44-year history of providing quality care," stated Garen Cox, President, CEO and General Counsel for Medicalodges. "We value the human dignity of our residents and base our care programs on that foundation. The opportunity to have our centers become part of the Vintage Park group was attractive to us because of the strong management focus and philosophy for resident care. We think this is a 'good fit' for our residents, our staffs, and the communities," Cox added.

The centers being acquired are located in Eureka in Greenwood County; Neodesha and Fredonia in Wilson County; Osage City in Osage County; Wamego in Pottawatomie County; Holton in Jackson County; and Hiawatha in Brown County, representing over 200 units in the ALF community within the State of Kansas.

About Skilled Healthcare Group, Inc.

Skilled Healthcare Group, Inc. subsidiaries operate skilled nursing and assisted living facilities as well as a rehabilitation therapy and a hospice business, which focus on creating a culture that attracts and retains an innovative, caring and ethical team that provides high-quality care to patients and residents. Other than statements by Mr. Cox, references made in this release to the "company,""we,""us" and "our," refer to Skilled Healthcare Group, Inc and each of its subsidiaries. More information about Skilled Healthcare Group is available at its Web site -- www.skilledhealthcaregroup.com.

This release includes "forward-looking statements" intended to qualify for the safe harbor from liability under Section 21E of the Securities Exchange Act. You can identify these statements by the fact that they do not relate strictly to historical or current facts. These statements contain words such as "may,""will,""project,""might,""expect,""believe,""anticipate,""intend,""could,""would,""estimate,""continue" or "pursue," or the negative or other variations thereof or comparable terminology. In particular, they include statements relating to, among other things, future actions of Skilled Healthcare Group, Inc. These forward-looking statements are based on current expectations and projections about future events.

Investors are cautioned that forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties that cannot be predicted or quantified and, consequently, the actual performance of Skilled Healthcare Group, Inc. may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the factors described in Skilled Healthcare Group, Inc.'s Annual Report on Form 10-K filed with the Securities and Exchange Commission (including the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" contained therein).

Any forward-looking statements are made only as of the date of this release. Skilled Healthcare Group Inc. disclaims any obligation to update the forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements.

Source: Business Wire

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