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ADCARE TO SELL SIX ASSISTED LIVING COMMUNITIES FOR $22.3M

ATLANTA — AdCare Health Systems has agreed to sell six assisted living facilities in Ohio for $22.3 million to a long-term Ohio operator of assisted living facilities. The transaction is expected to close before the end of the year. The six communities include a total of 196 units and generate an estimated $8.9 million in gross annualized revenue. The care provider will use the proceeds from the sale to finance its ongoing mergers and acquisitions program, which is focused on skilled nursing acquisitions.

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