AdCare Health Systems to Acquire Skilled Nursing and Assisted Living Center in Arkansas for $4.2M

AdCare Health Systems, Inc. ADK has signed a definitive agreement to purchase a skilled nursing and assisted living community in Mountain View, Arkansas for $4.2 million. The facilities have an aggregate of 129 beds that generated an estimated $5.2 million in gross annualized revenues according to its most recent financials. The transaction is expected to be immediately accretive to AdCare's earnings when it closes as planned in the fourth quarter of 2011. Combined with other transactions previously announced and in the process of closing, AdCare's estimated annualized revenue run-rate is expected to exceed $285 million. This would represent an increase of more than 436% over the company's revenues in 2010, and an increase of more than 969% over revenues in 2009 when it initiated its current M&A campaign.