National HealthCare (NHC) announced it has secured a $175 million line of credit with Bank of America. The facility replaces the $75 million line of credit that was in place prior to this agreement.

Robert Adams, CEO, stated: “We are pleased to complete our credit agreement with Bank of America. The credit facility allows us to complete the previously announced preferred stock redemption and also allows us the financial flexibility to continue to implement our strategy of expanding our continuum of post-acute health care services, which includes skilled nursing, assisted living and homecare services.”

NHC affiliates operate 75 long-term health care centers with 9,423 beds. NHC affiliates also operate 36 homecare programs, five independent living centers and 19 assisted living communities. NHC’s other services include Alzheimer’s units, long-term care pharmacies, hospice, a rehabilitation services company, and providing management and accounting services to third parties.