Manor Care Closes In Home Health Acquisition - TheStreet

Manor Care Closes In Home Health Acquisition

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Manor Care

(HCR) - Get Report

completed the acquisition of health care services provider

In Home Health Care

.

Shareholders of In Home Health approved the merger today at a special meeting, and the company is now a unit of Manor Care, which is based in Toledo, Ohio. In Home, Minnetonka, Minn., has been delisted from the

Nasdaq

. Shareholders, aside from those affiliated with Manor Care, became eligible to receive $3.70 in cash for each share of In Home Health.

Manor Care, an owner and operator of long-term care facilities, said the combined companies expect to record $200 million in revenue for 2001 for home care and hospice care services.

Shares of Manor Care gained $1, or 5.1%, to $20.81 in recent

New York Stock Exchange

trading.