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Rechnitz to acquire Plaza Healthcare assets

Nov 10, 2014 - The Deal Pipeline
Mergers and Acquisitions

Nursing home operator Plaza Healthcare Center LLC has won approval of the sale of its assets to Shlomo Rechnitz for $62 million.

Judge Catherine E. Bauer of the U.S. Bankruptcy Court for the Central District of California in Santa Ana on Oct. 30 entered an order sanctioning the transaction after an Oct. 22 hearing. Bauer on July 28 has approved Plaza's entry into a term sheet that outlined the framework for the deal between the Santa Ana debtor and Rechnitz, who also operates nursing homes...