Emeritus Senior Living Announces Purchase of Home Health Care Provider

SEATTLE--(BUSINESS WIRE)--Emeritus Corporation (NYSE: ESC) (“Emeritus” or the “Company”), the nation’s largest provider of assisted living and memory care services, today announced that the Company has entered into an agreement to purchase Nurse on Call, Inc. (“Nurse on Call” or “NOC”), the largest Medicare-licensed home health care provider in Florida and one of the largest such providers in the United States. Emeritus will pay $102 million in cash for 91% of the equity of NOC’s parent company, and the remaining equity will be owned by certain members of NOC’s management team. The Company will fund the purchase primarily from net proceeds realized from the recently closed sale of joint venture communities.