ATLANTA, March 21, 2018 /PRNewswire/ -- Regional Health
Properties, Inc. (NYSE American: RHE) (NYSE American: RHEpA) a self-managed healthcare real estate investment company that
invests primarily in real estate purposed for senior living and long-term care, today provided an update on strategic and
operational initiatives recently completed, including:
- Secured a new refinancing: During February 2018, the company secured a new financing,
which was used to settle professional and general liabilities and pay off maturing convertible debt.
- Reduced Outstanding PL/GL lawsuits: On March 12, 2018, the company entered into 25
individual mediation settlement agreements, significantly reducing the number of professional and general liability actions
pending against the company.
- New Board Member: The Board of Directors appointed Kenneth W. Taylor as a director of
the Company, effective February 1, 2018. Mr. Taylor brings exceptional qualifications and
experience to Regional Health Properties.
- Created Asset Management Group: In an effort to strengthen relationships with the company's facility operating
partners, management established an Asset Management Group within the company.
Financial Results Conference Call
Management will discuss these achievements and the company's future plans, as well as the financial results for the fourth
quarter and year end of 2017, in a conference call on Thursday, March 29, 2018 at 10 a.m. ET.
Conference call information:
- Date and time: Thursday, March 29, 2018 at 10 a.m. ET
- Dial-in number: 1-800-239-9838 (domestic) or 1-323-794-2551 (international)
- Please reference confirmation code: 1503425
- Replay number: Dial 1-844-512-2921 (domestic) or 1-412-317-6671 (international). Please use passcode 1503425 to access the
replay. The replay will be available until April 5, 2018.
- Webcast link: http://public.viavid.com/index.php?id=128884
About Regional Health Properties
Regional Health Properties, Inc. (NYSE American: RHE) (NYSE American: RHEpA) is the successor to AdCare Health
Systems, Inc., and is a self-managed healthcare real estate investment company that invests primarily in real estate purposed for
senior living and long-term healthcare through facility lease and sub-lease transactions. Regional Health Properties currently
owns, leases or manages for third parties 30 facilities.
For more information, visit www.regionalhealthproperties.com.
Important Cautions Regarding Forward-Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as "expects," "intends,"
"believes," "anticipates," "plans," "likely," "will," "seeks," "estimates" and variations of such words and similar expressions
are intended to identify such forward-looking statements. Statements in this press release regarding future events and
developments and our future performance, as well as management's expectations, beliefs, plans, estimates or projections relating
to the future, are forward-looking statements. Forward-looking statements in this press release include, among others, statements
regarding target or anticipated improvements in our portfolio operating metrics (including occupancy rates and rent coverage
ratios) and reductions in our general and administrative expenses, anticipated refinancing of certain mortgage debt and our
ability in general to refinance our senior secured mortgage debt on favorable terms, the impact of the pending professional and
general liability claims against us and our strategy to expedite settlement of such claims, our on-going executive officers
search, the dividend suspension for the fourth quarter and the future review thereof, portfolio growth, the operational risk of
our tenants, the nature of our acquisition pipeline and our ability to make acquisitions, and the reduction of our overhead
costs.
Forward-looking statements, by their nature, involve estimates, projections, goals, forecasts and assumptions and are subject
to risks and uncertainties that could cause actual results to differ materially from those projected or contemplated by our
forward-looking statements due to various factors, including, among others: our dependence on the operating success of our
operators; the significant amount of, and our ability to service, our indebtedness; covenants in our debt agreements that may
restrict our ability to make investments, incur additional indebtedness and refinance indebtedness on favorable terms; the
availability and cost of capital; our ability to raise capital through equity and debt financings or through the sale of assets;
the effect of increasing healthcare regulation and enforcement on our operators and the dependence of our operators on
reimbursement from governmental and other third-party payors; the relatively illiquid nature of real estate investments; the
impact of litigation and rising insurance costs on the business of our operators; the impact on us of litigation relating to our
prior operation of our healthcare properties; the effect of our operators declaring bankruptcy, becoming insolvent or failing to
pay rent as due; the ability of any of our operators in bankruptcy to reject unexpired lease obligations and to impede our
ability to collect unpaid rent or interest during the pendency of a bankruptcy proceeding and retain security deposits for the
debtor's obligations; our ability to find replacement operators and the impact of unforeseen costs in acquiring new properties;
and other factors discussed from time to time in our news releases, public statements and documents filed by us with the
Securities and Exchange Commission from time to time, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q
and Current Reports on Form 8-K. These forward-looking statements and such risks, uncertainties and other factors speak only as
of the date of this press release, and we expressly disclaim any obligation or undertaking to update or revise any
forward-looking statement contained herein, to reflect any change in our expectations with regard thereto or any other change in
events, conditions or circumstances on which any such statement is based, except to the extent otherwise required by applicable
law.
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SOURCE Regional Health Properties, Inc.