National HealthCare Corporation

What National HealthCare Corporation does

National HealthCare Corporation (NHC), founded in 1971 by Dr. Carl Adams and headquartered in Murfreesboro, Tennessee, is the nation's oldest publicly traded senior health care operator (NYSE American: NHC). The company operates a comprehensive continuum of care spanning 80 skilled nursing centers, 26 assisted living communities, 9 independent living communities, 3 behavioral health hospitals, 34 home care agencies, and 30 hospice agencies across approximately 10 southeastern and south-central US states. NHC serves adults 55 and older requiring post-acute rehabilitation, long-term skilled nursing, memory care, hospice, and geriatric psychiatric services, supported by nearly 14,000 employees.

The company's technology stack centers on Electronic Health Records (EHR) and Comprehensive Patient Care Software (CPCS) for patient assessments and care management, led by a CIO recognized at the 2026 Tennessee ORBIE Awards. Differentiated clinical offerings include The MINDful Way™ memory care program built on VITAL 5 Pillars (Validate Emotional Experience, Improvise and Be in the Moment, Terminate the Task Trap, Accommodate Sensory Deficits, and Life History integration), an ACEND-accredited Dietetic Internship, and Caris Healthcare hospice services operating across 31 offices. NHC also participates in mixed-use real estate development via the $115 million Ellison Cool Springs partnership with Flournoy Development Group.

Revenue is generated primarily through Medicare, Medicaid, managed care, and private pay reimbursement across all service lines, with hospital and physician referral channels driving post-acute admissions. FY2025 net operating revenues reached $1.52B (+16.1% YoY), with Q1 2026 revenue of $381.8M and EBITDA of $173.3M in 2025 reflecting expanding margins. The company has pursued aggressive inorganic growth, completing the White Oak Senior Living acquisition and a 5-facility acquisition in 2024, then closing a $560 million NHI portfolio acquisition in July 2026 that transitions 35 facilities from leased to owned real estate.

Name

National HealthCare Corporation

Legal name

National HealthCare Corporation

Website

https://nhccare.com

Company type

Public

Founded year

1971

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

National HealthCare Corporation operates 80 skilled nursing facilities, 26 assisted living communities, and home care, hospice, and behavioral health services across 10 southeastern US states. Founded in 1971, it serves seniors 55+ and is the nation's oldest publicly traded senior care provider.

Ownership category

akta.pro rank

Product category

Senior Care and Post-Acute Healthcare Services

NAICS

Nursing Care Facilities (Skilled Nursing Facilities) (623110), Assisted Living Facilities for the Elderly (623312), Continuing Care Retirement Communities (623311), Services for the Elderly and Persons with Disabilities (624120)

SIC

Services-Skilled Nursing Care Facilities (8051), Services-Home Health Care Services (8082), Services-Hospitals (8060)

akta.pro industry

PRIMARYHLAFAFAD

Long-Term Care Rehabilitation Centers

Healthcare & Life Sciences/Healthcare Providers & Systems/Post-Acute Care & Rehabilitation Facilities

SECONDARYHLADABAC

Assisted Living with Enhanced Care / High-Acuity (Aging-in-Place)

Healthcare & Life Sciences/Elder Care & Long-Term Care/Assisted Living Facilities

SECONDARYHSABACAA

Medicare-Certified Skilled Nursing Visits (RN/LPN)

Home & Personal Services/Elder Care & In-Home Care Services/Skilled Nursing & Clinical Home Health

SECONDARYHSABAIAD

Chronic Care & Complex Care Management

Home & Personal Services/Elder Care & In-Home Care Services/Care Coordination & Geriatric Care Management

Keywords

• Skilled nursing facilities
• Senior living services
• Post-acute rehabilitation
• Assisted living communities
• Hospice and homecare

Headquarters

HQ city

Murfreesboro

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Marketing or Sales, Technology or R&D

Revenue model

1. Skilled Nursing Facilities: Revenue from 80 skilled nursing centers providing 24/7 nursing care, rehabilitation services, and post-acute care. Reimbursement through Medicare, Medicaid, and private pay.
2. Assisted Living: Revenue from 26 assisted living communities with 1,501 units providing residential care with assistance in daily living activities.
3. Homecare and Hospice Services: Revenue from 34 home care agencies and 30 hospice agencies providing care to patients in their homes or end-of-life settings.
4. Behavioral Health Hospitals: Revenue from 3 behavioral health hospitals providing inpatient psychiatric care for adults 55 and older.
5. Pharmacy and Rehabilitation Services: Revenue from senior care pharmacies and rehabilitation services company, including physical, occupational, and speech therapy.
6. Management and Accounting Services: Revenue from providing management and accounting services to third-party post-acute operators.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

National HealthCare Corporation operates a comprehensive continuum of senior care services across skilled nursing facilities, assisted living, independent living, memory care, home care, hospice, geriatric behavioral health hospitals, and senior care pharmacies. The company provides 24/7 skilled nursing, post-acute rehabilitation therapy, residential senior living with varying levels of care, end-of-life hospice, and ancillary pharmacy and rehabilitation services across approximately ten southeastern and south-central U.S. states.

Product overview

National HealthCare Corporation (NHC) operates as a diversified senior care services provider offering a comprehensive continuum of care across multiple service lines. The company operates 80 skilled nursing centers, 26 assisted living communities, 9 independent living communities, 34 home care agencies, 30 hospice agencies, and 3 behavioral health hospitals. The core offerings are organized around skilled nursing (post-acute and rehabilitation care), senior living (assisted and independent living with memory care), home and hospice services, and behavioral health services. Supporting services include pharmacy services, rehabilitation therapy programs, and management/accounting services to third-party operators. The MINDful Way™ program provides specialized memory care using the VITAL 5 Pillars approach. NHC also offers training programs including an ACEND-accredited dietetic internship and collaborates on real estate development projects.

Differentiator

Problem solved

Functional benefit

Brands

• White Oak Senior Living: Skilled nursing and senior care communities operated by NHC following 2024 acquisition, with facilities in North Carolina and South Carolina.
• Caris Healthcare
• The MINDful Way
• NHC HomeCare
• Day By Day Podcast

Products and services

• Skilled Nursing Centers 24/7 skilled nursing care providing a bridge between hospital and home, with dedicated physicians, licensed nurses, and rehabilitation services for post-acute care recovery.
• Assisted Living Communities Residential assisted living providing security, support, and independence for seniors who need help with daily activities, offering private apartments with emergency response systems and 24-hour nursing staff.
• Independent Living Communities Active lifestyle communities for seniors 62 years and older offering maintenance-free living with access to community dining, social activities, and wellness programs.
• Rehabilitation Services Comprehensive Physical Therapy, Occupational Therapy, and Speech Therapy services for recovery after illness, injury, or surgery, with specialized programs for stroke care, joint replacement, and Parkinson's disease.
• Memory Care (The MINDful Way™) Specialized memory care program for individuals with Alzheimer's disease and dementia, built on the VITAL 5 Pillars approach focusing on validation, improvisation, person-centered care, sensory accommodation, and life history integration.
• Home Care (NHC HomeCare) Home healthcare services provided by Registered Nurses and Licensed Practical Nurses including patient assessment, medication monitoring, wound care, IV infusions, and physical/occupational/speech therapy for patients recovering at home under Medicare, Medicaid, Managed Care, and Private Insurance.
• Caris Hospice Care Hospice services provided by Caris Healthcare L.P. offering end-of-life care across 31 offices in Tennessee, Virginia, Missouri, South Carolina, and Georgia, serving over 80,000 patients and families.
• Geriatric Psychiatric Hospitals Inpatient psychiatric care specialized for adults 55 and older experiencing emotional, cognitive, or behavioral challenges, including treatment for depression, anxiety, dementia-related behaviors, bipolar disorder, and schizophrenia.
• Long Term Care 24-hour nursing care and supervision for individuals with chronic conditions, aging-related needs, or limited mobility, providing ongoing medical and personal support in a comfortable environment.
• ACEND-Accredited Dietetic Internship Program ACEND-accredited dietetic internship providing over 1,000 hours of supervised practice rotations across hospitals, dialysis centers, and long-term care facilities, with concurrent graduate degree partnerships at Middle Tennessee State University, University of Alabama, and Texas Tech University.

Quantifiable outcome

• 94% occupancy rate at acquired five skilled nursing facilities
• +2 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Six partnerships are on record, tiered supporting and core.

• Blueprint Healthcare Real Estate AdvisorssupportingImplementation/ SI/ Consulting Partner · 22 April 2026Blueprint Healthcare Real Estate Advisors served as transaction advisor to National Health Investors in the planned $560 million disposition of a 35-property healthcare portfolio to NHC. The portfolio includes 32 skilled nursing facilities and 3 independent living communities.
• National Health Investors, Inc. (NHI)coreStrategic or Co-development Partner · 21 April 2026NHC entered a Purchase and Sale Agreement to acquire 32 skilled nursing facilities and 3 independent living facilities from NHI for $560 million. The facilities span Alabama, Florida, Kentucky, Missouri, South Carolina, Tennessee, and Virginia. Transaction expected to close July 1, 2026, subject to regulatory approval. NHC will transition from lessee to owner of real estate it had been operating under a Master Agreement to Lease since 1991.
• Flournoy Development GroupcoreStrategic or Co-development Partner · 11 April 2024NHC partnered with Flournoy Development Group on a $115 million multifamily development project named Ellison Cool Springs in Franklin, TN. The class A community will feature 332 luxury apartment units and 15 ground floor live/work units, with retail, commercial, and hospitality spaces. Project managed by Flournoy Properties Group with completion slated for 2026. This represents a diversification into mixed-use development adjacent to NHC's healthcare focus.
• Middle Tennessee State UniversitysupportingStrategic or Co-development PartnerUniversity partner for NHC's Dietetic Internship program. Offers online Master of Professional Studies (MPS) with a concentration in Leadership in Nutrition. Interns complete graduate coursework concurrently with supervised practice rotations. Tuition approximately $15,327 for in-state students.
• University of AlabamasupportingStrategic or Co-development PartnerUniversity partner for NHC's Dietetic Internship program. Offers online Master of Science in Human Nutrition with Clinical, Community, or Generalist concentration. Tuition $440 per credit hour x 30 credit hours = $13,200.
• Texas Tech UniversitysupportingStrategic or Co-development PartnerUniversity partner for NHC's Dietetic Internship program. Offers online Master of Science in Nutrition and Dietetics with optional concentrations in Nutrition and Healthy Weight, Nutrition and Sports, or Nutrition in the Lifecycle. Total tuition approximately $14,430.

Scale indicators7 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• PACS Group: Public skilled nursing operator with a similar portfolio-acquisition growth model and post-acute focus, representing the closest direct competitor to NHC's SNF base and M&A strategy.
• Brookdale Senior Living: Largest U.S. senior living operator (NYSE: BKD) directly comparable to NHC's 26 assisted living communities, 9 independent living communities, and continuing-care retirement model.
• Genesis HealthCare: Major U.S. skilled nursing and post-acute operator with a comparable SNF and assisted living portfolio and similar Medicare/Medicaid reimbursement mix to NHC.
• The Ensign Group: Public skilled nursing and post-acute care operator (NASDAQ: ENSG) directly comparable to NHC's 80-SNF platform, with similar operating structure across skilled nursing, assisted living, and home health services.
• Pennant Group: Public home health, hospice, and senior living operator (NASDAQ: PNTG) comparable to NHC's Caris hospice and NHC HomeCare service lines, with overlap in assisted living and senior living services.
• Amedisys: Public home health and hospice operator (NASDAQ: AMED) directly comparable to NHC's 34 home care agencies and Caris Healthcare hospice operations across overlapping southeastern geographies.
• Encompass Health: Public inpatient rehabilitation and home health operator (NYSE: EHC) directly comparable to NHC's rehabilitation therapy service line and post-acute care focus, with overlapping referral economics.

Broad incumbents

• Ventas: Large-cap healthcare REIT (NYSE: VTR) with a senior housing and SNF real estate portfolio broadly comparable to NHC's real estate ownership model following the NHI transaction.

Emerging players

• Aveanna Healthcare: Public home health and hospice operator (NASDAQ: AVAH) with overlapping private-duty nursing and adult home care services comparable to NHC's Medicare-certified skilled home care service line.

Regional players

• National Health Investors: Healthcare REIT (NYSE: NHI) and NHC's former landlord under the 1991 Master Agreement to Lease; NHC just purchased 35 properties from NHI for $560M, making it NHC's most direct counterparty and closest real-estate peer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeopen.spotify.com/show/0TQMmBkoCdvVK8Xkm5twYR
• Xx.com/nhccare

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about National HealthCare Corporation