QUALITY CARE PROPERTIES,INC. (NYSE:QCP) Files An 8-K Other Events

ME Staff 8-k
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QUALITY CARE PROPERTIES,INC. (NYSE:QCP) Files An 8-K Other Events
Item 8.01.Other Events.

to the terms of the previously disclosed Forbearance Agreement and Amendment to Master Lease and Security Agreement, dated as of December22, 2017, by and among Quality Care Properties,Inc. (“QCP” or the “Company”), certain of its subsidiaries, HCR ManorCare,Inc. and HCR III Healthcare, LLC, the Company’s principal tenant (together with HCR ManorCare,Inc., “HCR ManorCare”), QCP has extended the deadline for HCR ManorCare’s response to QCP’s receivership complaint to January26, 2018, subject to court approval. As previously announced, on August17, 2017, QCP filed a complaint against HCR ManorCare seeking the appointment of an independent receiver for QCP’s skilled nursing and assisted living/memory care facilities. QCP and HCR ManorCare continue discussions regarding a potential comprehensive restructuring of the economic relationship between the parties.

For additional information regarding the risks to QCP associated with HCR ManorCare, see “Risk Factors” included in QCP’s Annual Report on Form10-K for the fiscal year ended December31, 2016, as amended, which is available on QCP’s website at www.qcpcorp.com and at www.sec.gov.

Safe Harbor Statement

Certain statements in this document that are not historical statements of fact may be deemed “forward-looking statements.” The Company intends to have its forward-looking statements covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and include this statement for purposes of complying with those provisions. Forward-looking statements include, among other things, statements regarding our or HCR ManorCare’s intent, belief or expectations. In particular we note the statement regarding our discussions with HCR ManorCare is a forward-looking statement. No assurance can be given that we will reach agreement with HCR ManorCare as a result of discussions or that the terms of any such agreement will be favorable to QCP. Forward-looking statements speak only as of the date of this Current Report on Form 8-K. Except as may be required under the federal securities laws and the rules and regulations of the Securities and Exchange Commission, the Company expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any statement is based.


About QUALITY CARE PROPERTIES,INC. (NYSE:QCP)

Quality Care Properties, Inc. is a self-managed and self-administered real estate investment trust. The Company is focused on post-acute/skilled nursing and memory care/assisted living properties. As of June 30, 2016, the Company’s portfolio included 274 post-acute/skilled nursing properties, 62 memory care/assisted living properties, a surgical hospital and a medical office building (MOB) across 30 states of the United States. The Company’s primary tenant is HCR ManorCare, Inc. (HCRMC), a provider of post-acute, memory care and hospice services. As of June 30, 2016, 249 of the Company’s post-acute/skilled nursing properties and 61 of its memory care/assisted living properties were leased to HCR III Healthcare, LLC (HCR III), a subsidiary of HCRMC. As of June 30, 2016, its hospital had a capacity of 37 beds. As of June 30, 2016, its medical office covered 88,000 square feet. As of June 30, 2016, its post-acute/skilled nursing properties had a capacity of 33,490 beds.