Laguna Hills Firm Expands

Care Enterprises of Laguna Hills on Thursday announced the signing of a definitive agreement to acquire Americare Inc., a Columbus, Ohio, nursing home and retirement housing operator developer. The acquisition of Americare, for about $25 million, would make Care Enterprises the fifth-largest investor-owned operator of skilled nursing care facilities. The deal, designed to extend Care Enterprises’ operations beyond California and Utah, is scheduled to close in June.

The acquisition, still subject to regulatory and bank approvals, calls for Care to acquire a controlling interest in Americare’s parent, First Ohio Investment Group Inc., then buy Americare and the rest of First Ohio.