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Manor Care enjoys strong first quarter.(Filings)(Financial report)(Brief article)

Contemporary Long Term Care

| July 01, 2002 | COPYRIGHT 1999 HCPro, Inc. (Hide copyright information)Copyright

Manor Care Inc. reports that net revenues for the first quarter of 2002 were $716 million, a 12 percent increase over the $638 million reported in the first quarter of 2001. Net income rose from $25 million in first-quarter 2001 to $34 million in the first quarter of 2002. According to CEO Paul Ormond, revenue growth was spurred by rate increases, improved occupancy rates, and a shift in revenue mix. The Toledo, Ohio-based company operates more than 500 long term …

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