Beverly buyer up against funding deadline
Senators question whether rules are being followed

Questions, lawsuits over unpaid bills and legislative inquiries continue to mount as North American Senior Care Inc. faces todayÕs deadline to complete the financing to take over Beverly Enterprises Inc. Continued > (must register)

Groups To Protest Sale Of BEI
By Mary L. Crider, Tuesday, November 8, 2005
Fort Smith-based nursing home operator BEI’s pending sale to New York-based North American Senior Care is the stated reason for a demonstration planned today outside DeKalb County Superior Court in Georgia. NASC will spend $13 a share, or more than $1.9 billion to buy BEI.

BEI Posts Sizable Revenue
By Mary L. Crider, Tuesday, November 8, 2005
BEI’s revenues climbed 11.3 percent in the third quarter, and its net revenue dropped 10 percent due to costs related to its sale process.
On Monday, the Fort Smith-based eldercare services provider reported revenues of about $583.9 million, compared to $524.8 million in the 2004 third quarter.

Barbour Client Indicted in Nursing Home, Delay Scheme
Oct. 18, 2005
When Haley Barbour was head of the Republican National Committee from 1993 to 1997, he loathed Medicare, the federal health-care program, and tried to gun it down in the GOP “Contract with America,” which he helped write with Rep. Newt Gingrich.

Motions Filed In Ark. To Block Portion Of Beverly Sale (must register)
November 2, 2005 3:56 p.m.
An attorney representing alleged victims of neglect at nursing homes operated by Beverly Enterprises Inc. (BEV) has filed court motions in Arkansas seeking to block an element of the planned sale of the company to an investor group.

Questions About Nursing Home Sale Remain
October 28, 2005
In a paid advertisement titled, A Message to Our Community, that ran Oct. 2, the chairman of Beverly Enterprises makes a series of statements. For the record, we would like to address his claims.
Beverly says, "NASC has stated its intention to retain BEI's various businesses, including BEI's eldercare service businesses, and to keep BEI's headquarters and company-support functions in and around Fort Smith."

Beverly headquarters won’t move, buyer says
October 26, 2005
The group buying Beverly Enterprises Inc. says it does not intend to move the company’s headquarters from Fort Smith and will strive to provide quality care to the nursing home residents it houses across the country, according to testimony during a legislative committee meeting Tuesday.

Fort Smith lawmakers told Beverly HQ will stay in state, panel told
October 26, 2005
LITTLE ROCK - The company trying to buy Fort-based Beverly Enterprises Inc. has sent a letter to lawmakers in western Arkansas saying it plans to keep the company's headquarters in Arkansas, a state legislative panel was told Tuesday. Rep. Stephen Bright, R-Maumelle, said a letter wasn't enough and demanded that such a pledge be included in the sales documents.

Beverly buyer makes its next move
October 25, 2005
Beverly Enterprises Inc.'s buyer, North American Senior Care Inc., moved one step closer to closing the deal after submitting letters of credit to finance the acquisition of the country's second-largest nursing home chain.

Beverly buyer makes its next move (must register)
North American submits filings on details of acquisition
October 25, 2005
Beverly Enterprises Inc.'s buyer, North American Senior Care Inc., moved one step closer to closing the deal after submitting letters of credit to finance the acquisition of the country's secondlargest nursing home chain. North American also confirmed in a filing Monday with the U.S. Securities and Exchange Commission that Beverly's 264 nursing homes, including 13 in Arkansas, will be sold to SBEV Property Holdings LLC.

Sifting Through The Beverly Rumors
October 24, 2005
As the share price of Beverly Enterprises drifted downward most of last week, hitting a recent low of $11.13 per share during the day on October 20, the rumors were swirling faster than the winds of lower Manhattan in the trading floors of Wall Street. One investor called, having just heard that Rubin Schron had walked away from the deal as an investing partner.

Beverly Buyer Accepts Debt Terms to Buyout Offer
October 24, 2005
Beverly Enterprises Inc. said Friday that it has received debt commitment letters and a solvency opinion from North American Senior Care Inc., which is buying the Fort Smith-based nursing home chain. In a statement, Beverly said NASC has provided letters of commitment for the debt portion of the transaction, totaling $1.875 billion.

Care Homes Hiring More Foreigners
October 20, 2005
WASHINGTON — Foreign nannies long have helped to raise American children. Now immigrants are moving into another aspect of caregiving in increasing numbers: tending to the needs of nursing-home residents. And they are winning a larger share of the highly skilled positions, according to a report to be released today by AARP.

Don't Neglect Scrutiny of Care for the Aged (must register)
October 20, 2005
More than 100,000 Californians are cared for in nursing homes today. The number of Californians 65 and older is expected to double in the next 20 years. Who's looking out for them? That question is harder to answer than it ought to be.

Changing nursing home ownership a quality hurdle
October 20, 2005
Some Mississippi lawmakers say changes in the ownership of nursing homes make it difficult for state government to regulate them or enforce quality standards.

The Price Of Beverly’s Shares Continues To Drop, But There May Be A Reason Why Other Bidders Have Not Stepped In
October 17, 2005
Two weeks ago we asked, How low will it go? This was in reference to the share price of Beverly Enterprises sinking down to a post-deal announcement low of $12.10 per share, when the agreed upon price for the acquisition of Beverly by North American Senior Care (NASC) was $13.00 per share.

National Residents' Rights Week: Oct. 2-8, 2005
Residents' Rights Week is designated by the National Citizens' Coalition for Nursing Home Reform and celebrated the first full week in October each year to honor residents living in all long-term care facilities, including nursing homes, subacute units, assisted living, board and care, and retirement communities.