Brookdale Senior Living Sells Remaining 20% Stake in HCA Venture

Brookdale Senior Living has completed the sale of its last 20% equity interest in its home health and hospice joint-venture with HCA Healthcare for $27 million. The company, which operates 672 communities across 42 states, did not disclose the buyer’s identity. This move follows the earlier sale of an 80% stake in the joint venture to HCA in a $400 million deal. Brookdale CEO Cindy Baier has emphasized the company’s commitment to its health care programs, including HealthPlus, and remains optimistic about the growing demand from the senior demographic. The sale of the equity interest is coupled with a refinancing of the company’s debt maturities, as well as new financing arrangements and amendments to its revolving credit agreement to strengthen its liquidity position.