0001193125-12-362077.txt : 20120820 0001193125-12-362077.hdr.sgml : 20120818 20120820164132 ACCESSION NUMBER: 0001193125-12-362077 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20120820 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20120820 DATE AS OF CHANGE: 20120820 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADVOCAT INC CENTRAL INDEX KEY: 0000919956 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-SKILLED NURSING CARE FACILITIES [8051] IRS NUMBER: 621559667 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12996 FILM NUMBER: 121045646 BUSINESS ADDRESS: STREET 1: 1621 GALLERIA BLVD. CITY: BRENTWOOD STATE: TN ZIP: 37027 BUSINESS PHONE: 6157717575 MAIL ADDRESS: STREET 1: 1621 GALLERIA BLVD. CITY: BRENTWOOD STATE: TN ZIP: 37027 8-K 1 d400448d8k.htm FORM 8-K Form 8-K

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 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)

August 20, 2012 (August 20, 2012)

ADVOCAT INC.

(Exact Name of Registrant as Specified in Charter)

 

Delaware

 

001-12996

 

62-1559667

(State or Other Jurisdiction of Incorporation)   (Commission File Number)   (IRS Employer Identification No.)

1621 Galleria Boulevard, Brentwood, TN 37027

(Address of Principal Executive Offices)        (Zip Code)

(615) 771-7575

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


Item 8.01 Other Events.

On August 20, 2012, the Company announced it entered into an agreement to sell an owned nursing center in Arkansas to an unrelated party. The operating margins of the nursing center do not meet the Company’s long term strategic goals. This nursing center contributed revenues of $2,588,000 and pretax net loss of $(18,000) in the six month periods ended June 30, 2012. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference in its entirety.

Item 9.01. Financial Statements and Exhibits.

 

  (d) Exhibits

 

Number   

Exhibit

99.1    Press release dated August 20, 2012.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

    ADVOCAT INC.
    By:   /s/ Kelly J. Gill
      Kelly J. Gill
      Chief Executive Officer

Date: August 20, 2012


EXHIBIT INDEX

 

Number

  

Exhibit

99.1    Press release dated August 20, 2012.
EX-99.1 2 d400448dex991.htm PRESS RELEASE Press release

Exhibit 99.1

 

LOGO

 

Company Contact:

Kelly J. Gill

Chief Executive Officer

615-771-7575

  

Investor Relations:

Charles Lynch

Westwicke Partners

443-213-0504

Advocat Announces Disposal of Arkansas Skilled Nursing Center

BRENTWOOD, TN, (August 20 , 2012) – Advocat Inc. (NASDAQ: AVCA) a premier provider of long term care services primarily in the Southeast and Southwest, today announced it entered into an agreement to sell an owned nursing center in Arkansas to an unrelated party. The operating margins of the nursing center do not meet the Company’s long term strategic goals. This nursing center contributed revenues of $2,588,000 and pretax net loss of $(18,000) in the six month periods ended June 30, 2012.

Commenting on the transaction, Kelly J. Gill, the Company’s President and Chief Executive Officer, stated: “Our focus on portfolio growth as part of our strategic operating initiatives has allowed us also to contemplate targeted divestitures of underperforming nursing centers, which can have a positive financial impact without compromising the scale of our growing Company. The Arkansas facility was operating at a modest loss, and its replacement in our portfolio with better performing nursing centers as described in our growth plan not only will provide an immediate financial benefit but also diversify our operations modestly from the state of Arkansas, which has been a challenging market for us in terms of professional liability.”

Advocat provides long-term care services to patients in 47 skilled nursing centers containing 5,445 licensed nursing beds, primarily in the Southeast and Southwest. For additional information about the Company, visit Advocat’s web site: www.advocatinc.com.

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