Wednesday, June 29, 2005

Fortress buys controlling interest in care centers

Fortress Investment, a global firm that recently bought Liberty Group Publishing, announced the purchase of controlling interest in Alterra Healthcare Corporation, according to the Milwaukee Business Journal.
The article indicated Fortress plans to merge Alterra with Chicago-based Brookdale Living Communities, Inc. Brookdale has a few nursing homes in the St. Louis area. Alterra does not have any in Missouri, but has a number in Kansas and Oklahoma.
Oklahoma cites with with Alterra homes, most of them going under the Sterling name, include Tulsa, Oklahoma City, Ada, Bartlesville, Bethany, Broken Arrow, Claremore, Duncan, Durant, Edmond, Enid, Lawton, Midwest City, Norman, Owasso, Ponca City, Stillwater, and Weatherford.
Kansas communities served by Alterra include: Topeka, Wichita, Great Bend, Hays, Junction City, Salina, Tallgrass, Wellington, Abilene, Arkansas City, Derby, Dodge City, and Emporia.
In addition to the purchase of Liberty Group Publishing, which includes The Carthage Press, the Neosho Daily News, the Neosho Post, and The Big Nickel, Fortress was recently in the news for buying troubled pop star Michael Jackson's debt from Bank of America. The collateral for that debt includes the rights to Jackson's own music and a 50 percent share of the Beatles' publishing rights.

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