ProMedica Senior Care

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ProMedica Senior Care: A quick overview

What it does
- ProMedica Senior Care is a major U.S. provider of short-term post-acute care and long-term care, including skilled nursing, rehabilitation, assisted living, hospice, and home health services. It was formed from HCR ManorCare and is based in Toledo, Ohio.

Size and scope
- As of 2020, it operated more than 300 facilities (skilled nursing and rehabilitation centers, assisted living, hospice, and home health offices) and employed about 45,000 people (roughly 6,000 salaried and the rest hourly). Around 1,000 employees were union members.

Ownership and recent changes
- In November 2022, ProMedica announced it would end its joint venture with Welltower and would cede 15% ownership of ProMedica Senior Care. Welltower then partnered with Integra Health to take control of all but 10 skilled nursing facilities from ProMedica. ProMedica will continue to operate the assisted living facilities gained under the original agreement.
- The company operates mainly under the Heartland, ManorCare Health Services, and Arden Courts brands.

History in brief
- ManorCare began in 1959 in Wheaton, Maryland, founded by Stewart W. Bainum Sr. It went public in 1969.
- It expanded through the 1980s and 1990s, merging with Health Care and Retirement Corp in 1998 to form HCR ManorCare, with headquarters in Toledo.
- In 2007, Carlyle Group bought HCR ManorCare for about $4.9 billion.
- In 2010, a sale-leaseback moved 338 facilities to a real estate investor (HCP) while HCR ManorCare continued operating them.
- In 2018, HCR ManorCare filed for Chapter 11 bankruptcy and ownership transferred to its landlord Quality Care Properties (QCP). Welltower acquired QCP in a deal with ProMedica, forming a Welltower-ProMedica joint venture and ProMedica paying about $1.35 billion to take over operations.
- ProMedica began phasing out the HCR ManorCare brand in 2020. In 2022, ProMedica exited the skilled nursing venture with Welltower.