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Skilled Healthcare Group Announces Amendment to Credit Facility

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Skilled Healthcare Group (NYSE: SKH) today announced that it has amended its senior secured credit facility to modify the leverage covenant. The amendment provides the Company with additional financial flexibility as it continues to manage through recently enacted reimbursement changes and a challenging operating environment. "While we remained in compliance with the existing leverage covenant and the other financial requirements in our credit facility, this amendment provides us additional flexibility with regard to leverage," said Boyd Hendrickson, Chairman and Chief Executive Officer of Skilled Healthcare Group. "We also continue to work on our previously-announced anticipated HUD financing, which presents a great opportunity to strengthen our balance sheet," continued Mr. Hendrickson.

About Skilled Healthcare Group, Inc.

Skilled Healthcare Group, Inc., based in Foothill Ranch, California, is a holding company with subsidiary healthcare services companies, which in the aggregate had trailing twelve month revenue of approximately $872 million and approximately 15,000 employees as of March 31, 2013. Skilled Healthcare Group and its wholly-owned companies, collectively referred to as the "Company," operate long-term care facilities and provide a wide range of post-acute care services, with a strategic emphasis on sub-acute specialty health care. The Company operates long-term care facilities in California, Iowa, Kansas, Missouri, Nebraska, Nevada, New Mexico and Texas, including 74 skilled nursing facilities that offer sub-acute care and rehabilitative and specialty health skilled nursing care, and 22 assisted living facilities that provide room and board and social services. In addition, the Company provides physical, occupational and speech therapy in Company-operated facilities and unaffiliated facilities. Furthermore, the Company provides hospice and home health care in Arizona, California, Idaho, Montana, New Mexico and Nevada. The Company leases 5 skilled nursing facilities in California to an unaffiliated third party operator. More information about Skilled Healthcare is available at www.skilledhealthcaregroup.com.

 

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