ManorCare has obtained the Court’s permission for a bankruptcy plan
HCR ManorCare Inc., the No.2 company in the U.S., has received court approval on Friday for its plan to go out of bankruptcy by transferring ownership to Quality Care Properties Inc. The company employs more than 50,000 people in more than 450 care homes and clinics across the country, with annual revenues of $3.7 billion. It is the largest network that has declared bankruptcy since the crisis hit qualified care facilities.
