Omega Healthcare updates on LaVie Care Centers Chapter 11 filing; commits $10M DIP financing

OMEGA HEALTHCARE INVESTORS INC

Omega commits $10M for 50% of debtor-in-possession financing to support LaVie during Chapter 11.
LaVie required to pay Omega monthly rent of $3M for 30 properties subject to court approval.
Omega believes remaining LaVie portfolio supports sustainable annualized rent of $36M.
Plan confirmation or asset sale expected by end of 2024, subject to court approval.
Omega has worked with LaVie over a year to reduce exposure to underperforming assets.

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