Regional Health Properties, Inc. Announces Sale of Nursing Home Facility
Sale of Coosa Valley Facility: Regional Health Properties, Inc. completed the sale of the Coosa Valley Health and Rehab facility in Glencoe, Alabama for $10.6 million, expecting a gain of approximately $3.7 million in their upcoming quarterly results.
Financial Details: At closing, the company repaid about $4.9 million in debt and received approximately $4.7 million in cash after transaction expenses, with plans to use the proceeds for general corporate purposes.
Leadership Statement: Brent Morrison, the CEO, expressed satisfaction with the sale process and indicated intentions to utilize the cash proceeds to enhance shareholder value.
Forward-Looking Statements: The press release includes forward-looking statements regarding the company's business and financial performance, highlighting potential risks and uncertainties that could affect future results.
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