Server: Microsoft-IIS/3.0 Date: Thu, 18 Dec 1997 19:16:23 GMT Content-Type: text/html Accept-Ranges: bytes Last-Modified: Wed, 19 Nov 1997 16:49:53 GMT Content-Length: 13096 Sun Healthcare Group, Inc. - What's New
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Mark Wimer Appointed President and COO

On Sept. 29, Andrew L. Turner, chairman and chief executive officer of Sun Healthcare Group, Inc. announced the appointment of Mark Wimer to the position of president and chief operating officer. Sun's board of directors has approved the creation of this new position.

Mr. Wimer has been with Sun since 1993. His most recent position was senior vice president for U.S. inpatient services.

Mr. Turner will continue as Sun's chairman and chief executive officer. His primary roles will be to pursue growth opportunities for Sun, including the company's initiatives in international markets. In addition, Mr. Turner will continue to provide vision and direction for the company.

"The company's growth in both domestic and international operations has been gratifying," Mr. Turner noted. "The two challenges we now face are identifying and developing new growth opportunities, and then integrating those opportunities into our existing operational structure. My time will be devoted primarily to the first of those challenges; Mr. Wimer will be charged with the second."

Mr. Wimer joined Sun in 1993 as president of the company's nursing home subsidiary, Sunrise Healthcare Corporation. In Sun's restructuring in 1996, he became a senior vice president of Sun Healthcare Group, responsible for operations at the nursing home and assisted living facilities.

"It is clear from Mr. Wimer's record of performance with this company that he has both the ability, and the confidence of his colleagues and the board of directors, to take charge of the day-to-day operations of all U.S. business units," said Mr. Turner. "Under his leadership, we have seen the nursing home component of our business grow from 31 facilities in 1993 to its current 191. Our revenues from subacute care, the most profitable component of providing skilled nursing care, have risen from virtually none to a current 40 percent. And, our state quality survey results have consistently been superior to the national average." It is the nursing home sector of Sun's business that provides a platform for the company's more profitable ancillary service businesses, which include rehabilitation therapy, pharmacy services and medical supplies.

Mr. Wimer's career spans a period of 20 years, and includes a wide range of positions from nursing assistant to his current position with Sun. Prior to joining Sun, Mr. Wimer was president and chief operating officer of Franciscan Eldercare Corp., a non-profit organization that develops and manages long-term care facilities. Before that, he was a regional vice president at The Hillhaven Corporation, with management responsibility for long-term care facilities in Washington, Oregon, Idaho and Montana. Previous experience includes a series of management positions, including nursing home administrator, with Alexian Brothers Health Management.

Mr. Wimer holds a master of health administration degree from St. Louis (Mo.) University, and a bachelor of science degree in bacteriology from the University of Idaho.

"The professionals throughout the Sun network are really the people who create our successes. I look forward to working with them to further the development of this dynamic company," said Mr. Wimer.

With this appointment, Sun will restructure its senior management team so that Mr. Wimer; Robert Woltil, the company's chief financial officer; and Tom Hamilton, senior vice president for inpatient services, Europe, will report directly to Mr. Turner. Reporting to the president will be the senior vice presidents for rehabilitation services, pharmaceutical services, inpatient services, administrative services, and SunSolution (the company's new branded product for all of its ancillary services). The office of the general counsel, and all financial and consulting services, will report to the chief financial officer.


Sun Acquires 110 Nursing Homes in Regency Deal

Sun completed the acquisition of Regency Health Services, Inc. (NYSE: RHS) for approximately $367 million in cash on Oct. 8, 1997. The total value of the transaction, including debt, is approximately $625 million.

The company also said that it has successfully expanded its existing bank credit facility, led by NationsBank of Texas, N.A., to $1.2 billion. The expanded credit facility is being used to provide partial financing for the Regency acquisition, to satisfy outstanding credit obligations and to provide for the company’s ongoing capital needs.

Additional funding for the Regency acquisition was obtained through a sale-leaseback transaction involving 31 Regency facilities for approximately $94 million in cash.

The completion of the Regency acquisition adds 110 long-term care facilities to Sun’s U.S. operations. Sun now operates a total of 446 long-term care facilities with 43,551 beds in the United States, the United Kingdom and Spain. The Regency merger also expands Sun's rehabilitation therapy and pharmacy operations.


Sun Acquires Nursing Homes in Northern Ireland

Sun Healthcare Group, Inc. announced in August the acquisition of three nursing homes in Northern Ireland.

Sun already operates five other properties in Northern Ireland with a total of 212 beds. The new homes will add additional 121 beds to Sun's current operations. The newly acquired homes are Dunanny, Glebe Road and Kingsland.

"The Northern Ireland transaction advances Sun’s strategy of international expansion through relatively small investments that permit the company to evaluate local market conditions and opportunities," said Chet Bradeen, managing director of Ashbourne PLC, Sun's United Kingdom nursing home subsidiary. Sun owns 133 other facilities in the United Kingdom, with more than 7,600 beds.

 


For more information about Sun Healthcare Group, Inc., including
recent press releases, quarterly reports and other documents,
call Fax-on-Demand at 1-888-FAX-SUNH.


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