September 14, 2018 / 9:46 PM / 2 months ago

Omega Healthcare REIT pushing credit bid for nursing home chain

Real estate investment trust Omega Healthcare Investors Inc at a hearing on Monday will argue for a court order allowing it to enter a bid for Orianna Health Systems that it says is superior to the one the bankrupt nursing home operator has accepted.

In papers filed on Thursday in U.S. Bankruptcy Court in Dallas, Omega said a bid by its OHI Asset RO LLC affiliate for Orianna, which operates as 4 West Holdings Inc, represents the “best remaining solution to this case,” which began with the publicly traded REIT acting as primary sponsor of the nursing home chain’s reorganization plan. Omega also is the chain’s largest secured creditor.

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