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Article: Regency Buys and Sells Nursing Homes, Seeks Less California Business.(Originated from The Orange County Register, Calif.)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- January 17, 1996
- Author:
CopyrightCOPYRIGHT 1996 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TUSTIN, Calif.--Jan. 17--Regency Health Services said Tuesday that it is revamping its mix of nursing homes by buying 18 facilities in the southeastern United States and selling 13 California homes.
The move is part of Regency's strategy to reduce its dependance on California, where wages and tough regulation make the cost of business higher than most other parts of the country. Of the 94 homes Regency owned prior to the deal, 80 are in California.
"If you're exposed to any one state as we are in California, you're too subject to the political and economic whims of that state," Regency Chief Executive Richard K. Matros said.
In a deal with Atlanta-based ...