Firm Increases Stake in Care Enterprises: An...

Firm Increases Stake in Care Enterprises: An Agoura Hills investment company has raised its interest in Care Enterprises Inc., the Tustin-based nursing home chain that emerged from bankruptcy last month, from 17% to 25.7%, or the equivalent of 2.59 million common shares. Foothill Capital Corp., a unit of the the Foothill Group Inc. of Agoura Hills, bought $800,000 in Care Enterprises notes on Jan. 18 from Smith Management Co., which is controlled by R.D. Smith, according to a Securities and Exchange Commission filing. Smith Management remains the largest shareholder with a 29% interest, said Gary Massimino, chief financial officer of Care Enterprises.