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Skilled Healthcare Group Announces Exchange Offer for $200 Million of 11% Senior Notes Due 2014

Posted on: Thursday, 17 May 2007, 18:00 CDT

Skilled Healthcare Group, Inc. (NYSE:SKH) announced an offer to exchange any and all of its outstanding 11% Senior Subordinated Notes due 2014 (the "private notes") issued in a private-placement sale in December of 2005.

The exchange offer expires at 5:00 p.m. New York City time on June 15, 2007, unless extended. The exchange notes will be registered under the Securities Act of 1933 and will not be subject to transfer restrictions, registration rights and provisions providing for an increase in the interest rate applicable to the private notes.

The exchange notes, which mature January 15, 2014, are unsecured senior subordinated obligations of Skilled Healthcare Group, Inc. and will be guaranteed on a senior subordinated basis by certain of its current and future subsidiaries.

This announcement is not an offer to exchange or a solicitation of an offer to exchange with respect to the private notes. The exchange offer is being made solely by the prospectus dated May 17, 2007, and is subject to the terms and conditions stated therein.

Skilled Healthcare Group, Inc. subsidiaries operate skilled nursing facilities and a rehabilitation therapy 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 has a strong reputation for treating patients who require a high level of skilled nursing care and extensive rehabilitation therapy. 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 Registration Statement on Form S-4 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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