Centennial HealthCare Corporation Makes Initial Entry Into Northeast; Establishes Presence with 795 Beds in Six Premier Facilities

Business Wire, Jan 12, 1999

ATLANTA--(BUSINESS WIRE)--Jan. 12, 1999--Centennial HealthCare Corporation (Nasdaq/NM:CTEN) announced today that, effective January 1, 1999, it had acquired from The Flatley Company, a Boston-based, privately held company, six skilled nursing facilities, or a total of 795 beds, located in the metropolitan Boston area.

The six Massachusetts facilities, referred to as The Flatley Rehabilitation and Nursing Centers, include the 139-bed Hollywell facility, located in Randolph; the 124-bed Parkwell facility, located in Hyde Park; the 124-bed Kathleen Daniel facility, located in Framingham; the 124-bed Kimwell facility, located in Fall River; the 124-bed Charlwell House facility, located in Norwood; and the 160-bed Milton Health Care facility, located in Milton. The facilities had combined 1998 revenues of approximately $40 million.

J. Stephen Eaton, president and chief executive officer of Centennial HealthCare, said, "We are very pleased to have made our entry into Massachusetts with the acquisition of such outstanding facilities. All the facilities, due to the dedication and loyalty of the employees, have excellent reputations for quality care, as illustrated by the fact that each facility is accredited by the Joint Commission on Accreditation of Healthcare Organizations (JCAHO)."

Centennial HealthCare Corporation, headquartered in Atlanta, Georgia, provides a broad range of long-term care services to meet the medical needs of elderly and post-acute patients. The Company operates 107 owned, leased and managed skilled nursing facilities with approximately 11,575 licensed available beds in 21 states and the District of Columbia. In addition, through its subsidiaries, the Company provides comprehensive rehabilitation services and home health services.

For additional information about the Company, visit Centennial's

web site:

http://www.centennialhc.com