Forbes names Forrest Preston
Cleveland Daily Banner - Forbes names Forrest Preston
names Forrest Preston
by BRIAN GRAVES Banner Staff?Writer Cleveland Daily Banner
Forbes magazine has ranked Life Care Centers of America founder Forrest Preston as the 364th wealthiest person in America.
The magazine says the 81-year-old Cleveland resident has a net worth of about $2 billion.
According to Forbes
, Life Care Centers of America
is one of the largest health care management companies in the U.S., operating skilled nursing homes, assisted-living facilities and retirement living communities.
health care ventures when he
opened the Garden Terrace Convalescent Center
Life Care Centers
began operations seven years later and now manages more than 200 facilities with 31,255 beds in 28 states.
It is the third-largest nursing home operator in the U.S.
is the reported sole shareholder of the company with his
stake valued at $2.3 billion.
has spent most of his
life in health care, having co-founded Hospital Publications Inc.
late brother, Winston, producing patient booklets and public relations material for hospitals in the U.S.