Boyd Hendrickson, Chairman & Chief Executive Officer said, We are pleased to have leased these properties to Brius Healthcare, a quality care provider who will continue striving for clinical excellence. This is a positive development for us as it continues our effort to balance our portfolio. As a result of this transaction, we expect consolidated revenue for fiscal year 2011 to be approximately $23 million less than the 2011 guidance we issued in our earnings release on February 14, 2011. Based on the terms of the lease, we anticipate consolidated cash flow after this transaction will be close to neutral for 2011.
Brius currently operates skilled nursing facilities in northern California. "Our company is looking forward to working together with the Medical community in Humboldt County to deliver the excellent patient care Brius is known for," said Shlomo Rechnitz, Chief Executive Officer of Brius. "We’re honored to have the opportunity to make a difference."