NHC Acquires White Oak Senior Living Portfolio for $220 Million

We represented National HealthCare Corporation (Nasdaq: NHC), a leading provider in senior care, in its acquisition of White Oak Senior Living’s 15–property portfolio operation in North and South Carolina. Under the terms of the agreement, NHC acquired three continuing care retirement communities as well as three additional stand-alone skilled nursing facilities in North Carolina and nine skilled nursing facilities, one of which also includes assisted and independent living units in South Carolina. In total, the White Oak acquisition adds 1,928 skilled nursing beds, 48 assisted living units, and 302 independent living units as well as White Oak’s long-term care pharmacy to NHC’s current operations.

The team was led by Bass, Berry & Sims attorney Riney Green, and included corporate attorneys Emily Connally and Logan McCallie; antitrust attorneys Lucas Smith and Ashleigh Karnell; intellectual property attorneys Wesley McCulloch and Emily Snyder; employee benefits attorney Noah Black; environmental attorneys John Dawson and Daniel Riley; healthcare attorneys Mary Beth Fortugno, Anna Grizzle, Dawn Perez-Slavinski, Nesrin Tift, Idena Allen, Katie Darden, Maleaka Guice, Dee Harleston, Niya Mack, Steffie Rosene, Jamie Steakley, Morgan Tandy, and Nikki Wethington; labor and employment attorneys Lymari Cromwell and Brittany Roberts; real estate attorney Tommy Gossett; and insurance attorney Stephen Taylor. In addition, the Bass, Berry & Sims’ finance team, led by attorneys John Seehorn and Stefanie Chamberlain, advised on the related $200M financing from Bank of America to NHC.

“For more than 25 years, Bass, Berry & Sims has been proud to partner with NHC and its management team and law department. We are grateful for the opportunity to advise them as they make a strategic move into North Carolina and expand their services in South Carolina,” said Green. “This transaction is an exceptional example of the broad and deep support that our firm can provide to public companies, particularly in the healthcare industry.”

The transaction was highlighted in several media outlets, including:

National HealthCare Corporation (Nasdaq: NHC) has been a leading provider in senior care for almost 50 years. Believing that care should respect the individual, promote recovery, wellbeing and independence.

About Bass, Berry & Sims

Bass, Berry & Sims has advised in more than 200 buy side and sell side transactions across a variety of industries over the past two years. Our work has earned the firm honors in national industry outlets, including being named Law Firm of the Year by the M&A Advisor. In addition, we’ve consistently been recognized by the M&A Advisor for our deal work, most recently winning the M&A Deal of the Year (Between $1B-$5B) for our role in advising on the acquisition of PANTHERx Rare from Centene Corporation by Vistria Group, General Atlantic, and Nautic Partners. In addition, the firm has been listed in industry leading league tables, including rankings as #25 Most Active in U.S. M&A (PitchBook, 2023) and #7 Most Active in Healthcare PE (PitchBook, 2023). To learn more about our team, industry experience and value-add, click here.

We represented National HealthCare Corporation (Nasdaq: NHC), a leading provider in senior care, in its acquisition of White Oak Senior Living’s 15–property portfolio operation in North and South Carolina. Under the terms of the agreement, NHC acquired three continuing care retirement communities as well as three additional stand-alone skilled nursing facilities in North Carolina and nine skilled nursing facilities, one of which also includes assisted and independent living units in South Carolina. In total, the White Oak acquisition adds 1,928 skilled nursing beds, 48 assisted living units, and 302 independent living units as well as White Oak’s long-term care pharmacy to NHC’s current operations.

The team was led by Bass, Berry & Sims attorney Riney Green, and included corporate attorneys Emily Connally and Logan McCallie; antitrust attorneys Lucas Smith and Ashleigh Karnell; intellectual property attorneys Wesley McCulloch and Emily Snyder; employee benefits attorney Noah Black; environmental attorneys John Dawson and Daniel Riley; healthcare attorneys Mary Beth Fortugno, Anna Grizzle, Dawn Perez-Slavinski, Nesrin Tift, Idena Allen, Katie Darden, Maleaka Guice, Dee Harleston, Niya Mack, Steffie Rosene, Jamie Steakley, Morgan Tandy, and Nikki Wethington; labor and employment attorneys Lymari Cromwell and Brittany Roberts; real estate attorney Tommy Gossett; and insurance attorney Stephen Taylor. In addition, the Bass, Berry & Sims’ finance team, led by attorneys John Seehorn and Stefanie Chamberlain, advised on the related $200M financing from Bank of America to NHC.

“For more than 25 years, Bass, Berry & Sims has been proud to partner with NHC and its management team and law department. We are grateful for the opportunity to advise them as they make a strategic move into North Carolina and expand their services in South Carolina,” said Green. “This transaction is an exceptional example of the broad and deep support that our firm can provide to public companies, particularly in the healthcare industry.”

The transaction was highlighted in several media outlets, including:

National HealthCare Corporation (Nasdaq: NHC) has been a leading provider in senior care for almost 50 years. Believing that care should respect the individual, promote recovery, wellbeing and independence.

About Bass, Berry & Sims

Bass, Berry & Sims has advised in more than 200 buy side and sell side transactions across a variety of industries over the past two years. Our work has earned the firm honors in national industry outlets, including being named Law Firm of the Year by the M&A Advisor. In addition, we’ve consistently been recognized by the M&A Advisor for our deal work, most recently winning the M&A Deal of the Year (Between $1B-$5B) for our role in advising on the acquisition of PANTHERx Rare from Centene Corporation by Vistria Group, General Atlantic, and Nautic Partners. In addition, the firm has been listed in industry leading league tables, including rankings as #25 Most Active in U.S. M&A (PitchBook, 2023) and #7 Most Active in Healthcare PE (PitchBook, 2023). To learn more about our team, industry experience and value-add, click here.