Exclusive: U.S. nursing home chain HCR ManorCare set to file for bankruptcy - sources

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[March 02, 2018]  CHICAGO (Reuters) - The second largest U.S. nursing home operator, HCR ManorCare, has reached an agreement with its landlord, Quality Care Properties Inc <QCP.N>, for a debt-for-equity swap as part of an imminent Chapter 11 filing, sources with knowledge of the matter said.

 

The bankruptcy filing is expected in the next few days, the sources said.

Toledo, Ohio-based ManorCare, with some 292 skilled nursing and assisted living locations across the United States, has been battling with landlord Quality Care, a real estate investment trust, over unpaid rents.

ManorCare is owned by private equity firm Carlyle Group <CG.O>.

Carlyle declined to comment while Quality Care did not immediately return a request for comment.

(Reporting by Tracy Rucinski in Chicago and Greg Roumeliotis in New York; Editing by Bernadette Baum)

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