Major US nursing home chain at risk of receivership

Chicago

US healthcare landlord Quality Care Properties Inc said on Friday that it can seek receivership for the country's second-largest nursing home chain, HCR ManorCare, after it failed to make a US$79.6 million payment for current and past rent.

In a statement, Quality Care said it had delivered a notice of default to HCR ManorCare, its main tenant, regarding the missed payment, which Quality Care said triggers immediate payment of US$265 million in additional overdue rent.