In their report, Fitch cited that PUMH has realized the operational, managerial and scale benefits from its affiliation with ACTS, one of the nation's largest not-for-profit senior living organizations with a network of 23 CCRCs in eight states throughout the east coast.
We view the PUMH communities, residents and staff as an integral part of the ACTS family and we are proud of the success of this affiliation.
Supper explains that Grant although PUMH and others remain separate companies, licenses bad to be amended because of the change of the controlling company.
Corporate management of operations allowed PUMH and Heron Point Co disassemble their corporate structures.
PUMH refinanced approximately $15 million of its bonds with a five-year direct placement with PNC Bank, which reduces some risk in its debt profile over the near term.
The Positive Outlook reflects the continued strengthening of PUMH's overall credit profile as PUMH realizes the benefits associated with its acquisition by ACTS.
We view the PUMH
communities, residents and staff as a full and integral part of the ACTS family and we are proud of the success this affiliation has generated.
31 from April 30), PUMH
generated operating income of $2.
Holloway, former chairman of the PUMH
Board of Directors.
Through a combination of organic growth and acquisitions, ACTS has grown from a single location in Fort Washington, PA in 1972, to 23 locations in eight states when the PUMH
and Heron Point affiliations are completed.
At two of the four facilities, PUMH
replaced the kiosks they were using to document care with AccuNurse voice-assisted care.
By giving its care staff the capability to access information on-demand, complete paperwork simply by talking, and get help by saying 'page,' PUMH
has achieved numerous gains.