Quality Care seeks funding to buy nursing home chain

Tennessee

QUALITY Care Properties Inc, one of the largest US healthcare landlords, said on Thursday it is meeting with lenders to discuss up to US$500 million in funding to acquire its main tenant, No 2 US nursing home chain HCR ManorCare.

HCR, which accounts for nearly all of Quality Care's revenues, failed to make a full rent payment in June. It owes about US$300 million in past rent, the landlord said in a regulatory filing.