NHC News & Events

National HealthCare announced entry into a Purchase and Sale Agreement to acquire the real estate of thirty-two skilled nursing facilities and three independent living facilities from National Health Investors, and its affiliates, or NHI. The purchase price is $560M. NHC, through affiliates, has been leasing and operating the facilities under a Master Agreement to Lease with NHI. he facilities subject to the agreement are located in Alabama, Florida, Kentucky, Missouri, South Carolina, Tennessee, and Virginia. NHC currently operates and will continue to operate all of these facilities, except four Florida skilled nursing facilities. The four Florida skilled nursing facilities will continue to be subject to a third-party operator's lease after the closing of the transaction. The transaction is expected to close in the Q3 subject to customary closing conditions, including the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.

National HealthCare Corporation announced it will pay a quarterly dividend of 64c per common share, a 4.9% increase over the prior quarter's regular dividend. The dividend is payable August 1 to shareholders of record on June 30.

Jonathan Litt's Land & Buildings Investment Management is launching a proxy fight at National Health Investors (NHI) and is seeking to oust two board members, Ben Glickman of Wall Street Journal reports, citing people familiar with the matter. Land & Buildings has nominated two directors to the company's board and believes National Health Investors' board is too closely tied to one of its largest tenants, National Healthcare (NHC), sources tell the Journal. The activist believes National Health could boost profits by getting more favorable lease terms, the people said.