Acquisitions and Dispositions

6 Months Ended

Jun. 30, 2013

Acquisitions and Dispositions [Abstract]

Acquisitions and Dispositions

4.  Acquisitions and Dispositions

Effective May 24, 2013, the Company acquired the underlying real estate interest in an entrance fee CCRC that the Company previously managed for an aggregate purchase price of $15.4 million, which included the assumption of the existing mortgage debt and certain liabilities in addition to cash paid. The Company will continue to manage the CCRC and report the results of operations of such community in the Management Services segment until necessary license approvals are obtained.

Effective May 31, 2013, the Company purchased the underlying real estate in an assisted living community for an aggregate purchase price of $2.4 million. The results of operations of the community will be reported in the Assisted Living segment.

During the six months ended June 30, 2013, the Company purchased one home health agency for an aggregate purchase price of approximately $1.4 million. The purchase price of the acquisition has been ascribed to an indefinite useful life intangible asset and recorded on the condensed consolidated balance sheet under other intangible assets, net.

During the six months ended June 30, 2013, the Company sold two communities for an aggregate selling price of $7.2 million.  The results of operations of the communities were previously reported in the Assisted Living segment.