Manor Care Through the Years
1980: Merges with budget hotel operators Quality International — also run by Stewart Bainum Sr. Hospitality line later renamed Choice Hotels. 1981: Stock moves from American Stock
Exchange to the New York Stock Exchange. 1959: Stewart Bainum Sr., left, a former plumber, opens his first nursing home in Wheaton. 1969: Manor Care goes public, raising $4 million from investors. 1982: Acquires nursing-home operator Cenco for $209 million, increasing its facilities to 105 in 19 states. 1987: Stewart Bainum Jr. succeeds his father as
chairman and chief executive. 1996: Headquarters moves from Silver Spring to
Gaithersburg. October 1996: Company spins off its Choice Hotels business, which includes Quality Inns and Comfort Inns. Sept 1998: $2.9 billion merger with Ohiobased Health Care and Retirement Corp. is completed. Company’s headquarters moves to Toledo. Stewart Bainum Jr. stays on as chairman. March 2000: Stewart Bainum Jr. and a management-led group make separate offers to buy company. May 2000: Manor Care rejects both offers, deciding to stay independently owned. Founder Stewart Bainum Sr. retires from the Manor Care board the same week. Sept 2001: Stewart Bainum Jr.’s term as
chairman ends. Sept. 2002: Stewart Bainum Jr. retires from
Manor Care board. July 2: Manor Care announces that it has agreed to be acquired by Carlyle.
An Arlington Manor Care center in 1984.