ProMedica to Acquire HCR ManorCare

ProMedica this week announced it has entered into a joint venture agreement with Welltower Inc. to acquire HCR ManorCare, the nation's second largest provider of post-acute and long-term care services. The Toledo, OH-based not-for-profit health system currently operates in six states. HCR ManorCare, also based in Toledo, operates 450 assisted-living facilities, skilled nursing facilities and rehabilitation centers, memory care communities, outpatient rehabilitation clinics, and hospice and home health agencies operating under the names of Heartland, ManorCare Health Services and Arden Courts. "We want to take down the wall between traditional hospital and post-acute care services in an effort to enhance the health and well-being of our aging population," said Randy Oostra, ProMedica president and CEO. "The lines are blurring between where health care begins and stops. This acquisition provides us the platform to think differently about health and aging."