ATLANTA, Aug. 12 /PRNewswire/ -- Paul, Hastings, Janofsky & Walker (Paul Hastings), a leading international law firm, is pleased to announce today that the firm advised Centennial HealthCare Properties, LLC (Centennial Properties) in connection with its and certain affiliates' roles in a $133 million acquisition of skilled nursing facilities from Centennial HealthCare Corporation, the transaction which permitted Centennial HealthCare Corporation (Centennial HealthCare) and its debtor affiliates to emerge from Chapter 11 bankruptcy proceedings which began in December 2002. The transaction was effective August 1, 2004.
Centennial Properties, founded by former Centennial HealthCare senior executives, J. Stephen Eaton and Alan C. Dahl, together with several affiliates, have ownership interests in health care providers that currently lease, manage and operate over 110 skilled nursing facilities. This acquisition added leasehold and management interests in more than 55 additional facilities. Alan Dahl indicated "Mark Lange and the team at Paul Hastings played a critical role and were instrumental in the successful completion of a transaction that included a restructuring involving over 150 entities and operations in 16 states."
"We were pleased to be a part of the Centennial Properties team for this key transaction," said Mark Lange, the engagement partner for this transaction and a tax and M&A partner in the Paul Hastings Corporate Department in Atlanta. "As the long-term care sector grows over the next decade, the Paul Hastings corporate and health care teams are poised to assist companies like Centennial Properties in making smart, strategic acquisitions."
The Paul Hastings team, which spanned several practice areas and offices, included: Mark Lange, Emily Crosby, a tax associate in the Atlanta office, Tom Burch, a real estate partner in the Atlanta office, Wayne Bradley, an M&A partner in the Atlanta office, Erik Belenky and Browning Afield, M&A associates in the Atlanta office, Pat Showalter, Senior Paralegal II in the Atlanta office, Joel Rothstein, a real estate partner from the Tokyo office, James Budd, a real estate associate in the Atlanta office, Philip Marzetti, a tax partner in the Atlanta office, Harvey Strickon, a bankruptcy of counsel lawyer in the New York office and Mark Poerio, an ERISA partner in the Washington office.
Centennial HealthCare Corporation had continued to provide long-term health care services to meet the medical needs of elderly and post-acute patients after commencing Chapter 11 bankruptcy proceedings in December 2002. Basic services included skilled nursing and support, housekeeping, laundry, dietary, recreational and social services. Specialty services included comprehensive rehabilitation therapy, respiratory therapy, ventilator care, infusion therapy, wound care, home health care and other sub-acute and specialty services.
Paul Hastings Mergers and Acquisitions Practice: Recently named "M&A Law Firm of the Year" by Mergers & Acquisitions Advisor, Paul Hastings advises companies involved in the entire spectrum of merger, acquisition, disposition and joint venture activities involving public and private companies. The firm's corporate and tax attorneys represent acquirers and targets in strategically as well as financially-motivated transactions involving purchase and sale of both domestic and foreign companies. Transactions handled include friendly and unsolicited acquisitions, tender offers, proxy contests, mergers, exchanges of securities, strategic and other minority investments, recapitalizations, "going private" transactions, leveraged buyout and joint ventures.
Paul, Hastings, Janofsky & Walker LLP, founded in 1951, is an international law firm, representing Fortune 500 companies with more than 950 attorneys located in 15 offices: Atlanta, Beijing, Brussels, Hong Kong, London, Los Angeles, New York, Orange County, Paris, San Diego, San Francisco, Shanghai, Stamford, Tokyo and Washington, DC.
Paul, Hastings, Janofsky & Walker LLPCONTACT: Eileen King, Public Relations Manager of Paul, Hastings,Janofsky & Walker LLP, +1-212-318-6455, eileenking@paulhastings.com