HCR Manorcare filing for Chapter 11, transferring ownership to separate company

HCR Manorcare filing for Chapter 11, transferring ownership to separate company
(Source: WTOL)

TOLEDO, OH (WTOL) - Toledo-based HCR Manorcare is filing for chapter 11 bankruptcy as part of a plan to get the company out of financial trouble.

A separate company focused on assisted-living facilities, Quality Care Properties, will assume ownership of HCR Manorcare's operations and leadership.

Both entities say this transition will not affect any patients currently receiving care by HCR Manorcare.

A statement from HCR Manorcare reads: "HCR ManorCare believes this agreement should ensure the necessary financial stability going forward to protect our employee's, patients and partners and keep our three profitable lines of business viable going forward."

WTOL 11 has made calls to see when the bankruptcy filing is complete what the future of HCR in Toledo will be but we have yet to hear back.

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