DSS - Document Security Systems expands subsidiary AMRE with three hospitals acquisitions

Document Security Systems (DSS -0.8%) announced its majority-owned subsidiary, American Medical REIT (AMRE) acquired three hospitals for $62M. Currently, the hospitals are tenanted and operated by LifeCare Hospitals, specialty hospital operator with a focus on long-term acute and critical care. The Hospitals acquired by AMRE are currently under an 18-year lease with 11 years remaining and an option to renew for an additional five years. LifeCare Hospitals has lengthy experience in operating long term and acute care facilities. Looking ahead, the company plans to focus on advancing additional acquisitions through its pipeline of high-quality healthcare assets so as to accelerate growth for AMRE. For the acquisition, DSS Securities, a wholly owned subsidiary of DSS, loaned AMRE $0.8M and American Pacific Bancorp, a majority-owned subsidiary of DSS, loaned AMRE $13.9M.

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Document Security Systems expands subsidiary AMRE with three hospitals acquisitions