Category:
Business
Region:
USA
State:
Washington
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EMERITUS ANNOUNCES GAIN ON PHARMACY INVESTMENT
Source: dBusinessNews Seattle
Date: 2-May-2007
SEATTLE -- Emeritus Corporation (AMEX:ESC), a national provider of assisted living and related services to senior citizens, announced today that the Company will divest its remaining interests in Senior Healthcare Partners LLC (SHP). SHP operates under the name of Senior Med and provides pharmacy services to senior housing residents. Emeritus will receive approximately $8.5 million in cash and record a gain of approximately $7.0 million. The transaction is expected to close in May 2007.
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