Summit Care to Buy Texas Nursing Home

Summit Care Corp. in Burbank said it agreed to buy a 240-bed nursing care center in Ft. Worth, Tex., for about $10 million.

The transaction, which is subject to Summit Care securing the necessary financing, is expected to be completed Aug. 1.

Summit Care, an operator of 17 nursing homes and four retirement centers, went public in March when its former parent company, Summit Health Ltd., offered a minority stake in Summit Care to the public. Summit Health is a hospital operator based in Burbank.