Sun Healthcare Group, Inc. (SUNH) announced guidance for 2008 and affirmed its 2007 guidance announced on Oct. 31, 2007.
This 2008 guidance is based on the continuing operations of the company and assumes an effective income tax rate of approximately 40 percent. This guidance also assumes, among other things, no additional acquisitions or dispositions, a continued stable Medicare reimbursement environment and no net changes in the Medicaid environment.
Capital expenditures, including maintenance capital expenditures for the facilities, IT capital expenditures and costs for currently planned build-outs of our Rehab Recovery SuitesSM, are expected to be in the range of $45 million to $50 million.
“Our focus on increasing higher acuity residents and infrastructure improvements will continue to drive our margins in 2008,” said Richard K. Matros, Sun’s chairman and chief executive officer. “The overall healthcare system benefits from the movement of higher acuity patients to a lower cost environment.”
Sun Healthcare Group, Inc., headquartered in Irvine, California, owns SunBridge Healthcare Corporation and other affiliated companies that operate long-term and post acute care centers in many states. In addition, the Sun Healthcare Group family of companies provides therapy through SunDance Rehabilitation Corporation, hospice services through SolAmor Hospice and medical staffing through CareerStaff Unlimited, Inc.
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