The pending $6.3 billion buyout of Toledo s Manor Care Inc. by New York private equity firm Carlyle Group was cleared yesterday by the Federal Trade Commission. The deal, announced last month with a $67-a-share purchase price, is to be completed before year s end.
Manor Care, the nation s largest nursing home operator, is based in downtown Toledo. The change is not expected to affect the firm s employees or operations. The company has 700 workers at its headquarters and 800 at other facilities in northwest Ohio.
Manor Care has more than 550 nursing homes, assisted-living facilities, rehab centers, and home-health-care offices, and a total of about 60,000 workers in 30 states. It had a profit of $167 million on revenue of $3.6 billion last year and ranked565th on this year s Fortune 1,000 list.