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Home > Company Index > Health Products & Services > Long-Term Care Facilities > Mariner Post-Acute Network, Inc.

Mariner Post-Acute Network, Inc.
 PROFILE
Send in the Navy Seals: Mariner Post-Acute Network has filed for Chapter 11 bankruptcy citing low Medicare reimbursements. The company is one of the largest providers of long-term care in the US. Mariner operates about 360 inpatient and assisted living centers in some 25 states (over 25% in Texas). After selling or closing many of its contract services due to Medicare cutbacks, the company continues to operate subsidiary American Pharmaceutical Services, which provides pharmacy and infusion therapy supplies through more than 30 institutional pharmacies in about 15 states. Mariner also operates about a dozen long-term acute care facilities. Investment bank Credit Suisse First Boston owns over 20% of the company.

 COMPETITION
Beverly Enterprises, Inc. (BEV)
Manor Care, Inc. (HCR)
Sun Healthcare Group, Inc. (SHGE)

 FINANCIAL OVERVIEW
Fiscal Year-End: September
2000 Sales (mil.): 2,117.70
1-Yr. Sales Growth: (6.8)%
Employees: 43,000
Revenue per employee: $49,248.84

 KEY PEOPLE
• C. Christian Winkle
    CEO
• Boyd P. Gentry
    CFO

 CONTACT INFO
1 Ravinia Dr., Ste. 1500
Atlanta, GA 30346
US
Phone: 678-443-7000
Fax: 770-393-8054
Online: Web Site

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