NHC completes $560M acquisition of 35 facilities from NHI; funds with new credit facility

NATIONAL HEALTHCARE CORP

Acquired 32 skilled nursing and 3 independent living facilities from NHI for $560M in cash.
Funded by $475M term loan and $55M revolver draw under new credit facility; revolver increased to $75M.
Acquisition expected to be accretive to earnings and cash flow; NHC now owns real estate it previously leased.
Four Florida skilled nursing facilities remain subleased to a third-party operator; NHC continues to operate all others.
Facilities located in AL, FL, KY, MO, SC, TN, VA; complements existing continuum of care.

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