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    Manor Care Inc.
    list rank

    From the April 28, 1997 Washington Post


    '96 (in $ 000s) % Change From '95
    Revenue 1,248,197 22.4
    Net Income 85,907 (9.1)
    Rank Last Year: 16

    Description: Manor Care is the nation's third-largest provider of long-term health care with 200 nursing homes, subacute units, Alzheimer's disease centers and rehabilitation facilities containing almost 27,000 beds in 28 states. In addition, it owns 82 percent of Vitalink Pharmacy Services and a controlling interest in Home Health Inc. Taken together, the company is carving out a niche as a major supplier of post-hospital health care.

    Business Resume:
    • Contact Info --
      11555 Darnestown Rd.
      Gaithersburg, Md. 20878
      301-979-4000
    • Main Business --
      Health care
    • Founded --
      1968
    • Chairperson --
      Stewart Bainum Jr. (CEO)
    • President --
      Stewart Bainum Jr.
    • Employees --
      30,000
    • D.C.-Area Employees --
      3,500
    Developments:
    The company spun off its hotel and lodging business to another corporate entity, Choice Hotels International, narrowing its focus to the special niche in the health care field. Vitalink Pharmacy Services, which caters to institutional customers, merged with TeamCare, a pharmacy subsidiary of GranCare Inc., a move that makes Vitalink the second-largest publicly traded institutional pharmacy firm with revenue of more than $420 million.

    Manor Care had revenue of $1.2 billion last year, compared with $1 billion in 1995. But its profit dropped slightly, to $85.9 million from $94.5 million, largely as a result of a one-time restructuring charge arising from the spinoff of the hotel properties.

    Stewart Bainum Jr., Manor Care's chairman, president and chief executive, said the company's principal growth thrust will be in the area of assisted living, especially for Alzheimer's disease patients. He said Manor Care opened Alzheimer's centers last year and expects to have 120 operating within four years. He said this will bring down the cost of caring for Alzheimer's patients by moving them from skilled nursing homes to special residential-type units more suited to their needs.

    Copyright 1997 The Washington Post

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