Skilled Healthcare Settles

February 19, 2013. It looks like Skilled Healthcare Group’s $460 million refinancing with HUD may get the clearance to move forward. The company just settled with the California Attorney General over alleged understaffing and care deficiencies at the company’s California nursing facilities. As part of the settlement, Skilled Healthcare will pay a small fine and fund the cost of an independent monitor to evaluate the quality of care and ensure compliance with California’s staffing laws, which was estimated to cost the company about $350,000 per year. The next step will be to get HUD’s sign-off that the settlement meets its criteria. If so, it will mean some significant interest savings for Skilled Healthcare. The news initially sent the company’s share price up by almost 15%.....Want to read more news? Click here for a free trial to The SeniorCare Investor and download the current issue today