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)

May 1, 2013 (May 1, 2013)

DIVERSICARE HEALTHCARE SERVICES 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))

468089-1

Item 1.01    Entry into Material Definitive Agreement.

On May 1, 2013, Diversicare Healthcare Services Inc., ("Diversicare" or the "Company") executed an Amended and Restated Credit Agreement (the "Credit Agreement") with a syndicate of financial institutions and banks, including The PrivateBank as the Administering Agent, in order to finance the consummation of the transaction contemplated by the Purchase Agreement (the "Purchase") as previously described in Diversicare's Current Report on Form 8-K that was filed with the Securities and Exchange Commission ("SEC") on March 6, 2013, and completed as disclosed in Item 2.01 below. The Credit Agreement increases the Company's borrowing capacity to $65 million, allocated between a $45 million term loan (the "Term Loan") and a $20 million dollar revolving credit facility. The Term Loan is structured under a five-year term with a 25-year amortization.

Item 2.01    Completion of Acquisition or Disposition of Assets.

On May 1, 2013 (the “Effective Date”), Diversicare Healthcare Services Inc., (the "Company") through certain of its wholly owned subsidiaries (“Purchasers”), completed its acquisition of five skilled nursing centers in Kansas with Cumberland & Ohio Co. of Texas, as receiver of the assets of SeniorTrust of Florida, Inc. (the “Seller”). The completed acquisition resulted in the acquisition of certain land, improvements, furniture, fixtures and equipment, personal property and intangible property, together comprising: (i) a 77-bed skilled nursing facility known as Chanute HealthCare Center; (ii) an 80-bed skilled nursing facility known as Council Grove HealthCare Center; (iii) a 126-bed skilled nursing facility known as Haysville HealthCare Center; (iv) a 99-bed skilled nursing facility known as Larned HealthCare Center; and (v) a 62-bed skilled nursing facility known as Sedgwick HealthCare Center, all located in Kansas (collectively, the “Facilities”) for an aggregate purchase price of $15,500,000, subject to the terms and conditions of the Purchase. The Facilities together have annual revenues of approximately $24 million and are expected to be accretive to earnings early in the Company’s tenure as the operator of the facilities. The Purchase was financed in conjunction with a renewal and expansion of the Company’s credit facility with a syndicate led by The PrivateBank as described in Item 1.01 above. A copy of a press release describing the Purchase is attached as Exhibit 99.1 to this Current Report on Form 8-K.

While the acquisition described above is deemed to involve a significant amount of assets pursuant to the instructions to Item 2 of Form 8-K, separate financial statement of the Facilities are not required to be filed pursuant to Regulation S-X.

Item 9.01.    Financial Statements and Exhibits.

(d) Exhibits

Exhibit 99.1 Press release issued May 1, 2013 announcing the closing of the acquisition of five skilled nursing centers in Kansas.

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.

DIVERSICARE HEALTHCARE SERVICES INC.

By:    /s/ James R. McKnight, Jr.    

James R. McKnight, Jr.

Chief Financial Officer

Date:    May 1, 2013

EXHIBIT INDEX

NumberExhibit

99.1        Press release dated May 1, 2013.

EX-99.1

Exhibit 99.1

Company Contact:	Investor Relations:
Kelly J. Gill	Charles Lynch
Chief Executive Officer	Westwicke Partners
615-771-7575	443-213-0504

Diversicare Completes Acquisition Of Kansas Portfolio

BRENTWOOD, TN, (May 1, 2013) - Diversicare Healthcare Services Inc. (NASDAQ: DVCR), a premier provider of long-term care services primarily in the Southeast and Southwest, today announced the completion of its previously disclosed purchase of five skilled nursing centers in Kansas for $15.5 million. The nursing centers have annual revenues of approximately $24 million, and their purchase is expected to be accretive to earnings early in the Company's tenure as operator. The acquisition was financed in conjunction with a renewal and expansion of the Company's credit facility with a syndicate led by The PrivateBank.

Commenting on the transaction, Kelly J. Gill, the Company's President and Chief Executive Officer, stated, “I am excited to complete this transaction, which marks our expansion into our ninth operating state and increases our center count by more than 10 percent. Since embarking on our portfolio-expansion strategy in 2012, we have now added eight new centers through purchases, lease financing, and de novo construction, a testament to our acquisition pipeline, our deal flexibility, and our broadening relationships with financing partners. The Kansas transaction, our largest to date, will allow us to exercise the operating leverage we have created in our Company, and moreover we believe attractive opportunity exists for organic growth at these centers as we undertake planned renovations and implement our operating strategies.”

FORWARD-LOOKING STATEMENTS

The “forward-looking statements” contained in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are predictive in nature and are frequently identified by the use of terms such as “may,”“will,”“should,”“expect,”“believe,”“estimate,”“intend,” and similar words indicating possible future expectations, events or actions. These forward-looking statements reflect our current views with respect to future events and present our estimates and assumptions only as of the date of this release. Actual results could differ materially from those contemplated by the forward-looking statements made in this release. In addition to any assumptions and other factors referred to specifically in connection with such statements, other factors, many of which are beyond our ability to control or predict, could cause our actual results to differ materially from the results expressed or implied in any forward-looking statements including, but not limited to, our ability to successfully close the acquisition and to license, certify and operate the new Kansas facilities, as well as other risk factors detailed in the Company's Securities and Exchange Commission filings. The Company has provided additional information in its Annual Report on Form 10-K for the fiscal year ended December31, 2012, as well as in its other filings with the Securities and Exchange Commission, which readers are encouraged to review for further disclosure of other factors. These assumptions may not materialize to the extent assumed, and risks and uncertainties may cause actual results to be different from anticipated results. These risks and uncertainties also may result in changes to the Company's business plans and prospects. Diversicare Healthcare Services Inc. is not responsible for updating the information contained in this press release beyond the published date, or for changes made to this document by wire services or Internet services.

Diversicare provides long-term care services to patients in 53 skilled nursing centers containing 5,982 licensed nursing beds, primarily in the Southeast and Southwest. For additional information about the Company, visit Diversicare's web site: www.dvcr.com.