Healthcare Center in Southern California

Sale of business, Plaza Healthcare Center LLC. The Primary assets of the Healthcare Center consist of their accounts receivable and the Facilities themselves. The business had total accounts receivable of approximately $29,247,000.

Plaza Healthcare Center LLC are primarily engaged in the business of owning and operating skilled nursing facilities in Southern California. The Business own and operate 18 skilled nursing facilities which provide 24 hours per day, 7 days per week and 365 days per year care to patients who reside at these facilities, and one assisted living facility. The 18 skilled nursing Facilities have a total of 1,769 licensed beds and assisted living facility has 136 licensed beds. All of the Facilities are licensed by the California Department of Public Health and managed by an affiliated entity, Country Villa Service Corp (“CVSC”). Facilities are on leased. 7 of the Facilities are leased by entities which are owned and controlled by insiders of the business and the other 12 Facilities are leased by entities that have no connection with any insiders of the business.