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Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): December 27, 2005 (December 27, 2005) National HealthCare Corporation (Exact name of Registrant as specified in its charter) Delaware 001-13489 52-2057472 (State of Incorporation) (Commission File No.) (IRS Employer Identification Number) 100 Vine Street Murfreesboro, TN 37130 (Address of principal executive offices, including zip code) (615) 890-2020 (Registrant's telephone number, including area code) Not Applicable (Former name or former address, if changed since last report)
SECURITIES AND EXCHANGE COMMISSION
Item 1.01. Entry into a Material Definitive Agreement
On December 27, 2005, National HealthCare Corporation reported that it reached an agreement with National Health Investors, Inc. ("NHI") to extend its lease on 41 properties through December 31, 2021.
The 15-year lease extension begins January 1, 2007, and includes three additional five-year renewal options, each at fair market value. Under the terms of the extended lease, base rent paid to NHI for 2007 will total $33,700,000 with rent thereafter escalating by 4% of the increase in facility revenue over a 2007 base year.
A copy of the press release is filed as Exhibit 99 to this Current Report on Form 8-K and is incorporated by reference herein.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
National HealthCare Corporation | |
By: /s/ Robert G. Adams | |
Name: Robert G. Adams | |
Title: President | |
Date: December 27, 2005 |
Exhibit Index
Number | Exhibit |
99 | Press release, dated December 27, 2005 |
EXHIBIT 99
For release: Dec. 27, 2005
Contact: Gerald Coggin, Senior VP of Corporate Relations
Phone: (615) 890-2020
NHC extends lease with NHI
MURFREESBORO, Tenn. -- National HealthCare Corporation (AMEX: NHC), one of the nation's oldest long-term health care companies, reported today that it reached an agreement with National Health Investors, Inc. (NYSE: NHI) to extend its lease on 41 properties through Dec. 31, 2021.
The 15-year lease extension begins Jan. 1, 2007, and includes three additional five-year renewal options, each at fair market value. Under the terms of the extended lease, base rent paid to NHI for 2007 will total $33,700,000 with rent thereafter escalating by 4% of the increase in facility revenue over a 2007 base year.
NHC provides services to 74 long-term health care centers with 9,177 beds. NHC also operates 31 homecare programs, six independent living centers and assisted living centers at 22 locations. NHC's other services include managed care specialty medical units, Alzheimer's units, hospice and a rehabilitation services company. In order to understand in all material respects the financial condition, results of operations and cash flows of NHC, the investors must review our most recent form 10-Q quarterly report, Form 10-K annual report and press releases which are available on our web site at www.nhccare.com.
Statements in this press release that are not historical facts are forward-looking statements. NHC cautions investors that any forward-looking statements made involve risks and uncertainties and are not guarantees of future performance. All forward-looking statements represent NHC's best judgment as of the date of this release.
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