Quality Care Properties, Inc. (NYSE: QCP) announced today that it has agreed with HCR ManorCare, Inc. and HCR III Healthcare, LLC, the Company's principal tenant to further extend the deadline for HCR ManorCare's response to QCP's receivership complaint to November 1, 2017, subject to Court approval, to allow for the continuation of workout discussions. Discussion topics include, but are not limited to, the parties (i) cooperating in the sale or re-leasing of facilities, and (ii) agreeing to governance changes and protocols at HCR ManorCare to facilitate sales and re-leasing activities and asset stewardship. As previously announced, on August 17, 2017, QCP filed a complaint against HCR ManorCare seeking the appointment of an independent receiver for QCP's skilled nursing and assisted living/memory care facilities.

HCR ManorCare continues to be in default under the Master Lease and Security Agreement, dated as of April 7, 2011, as amended and supplemented and the Guaranty of Obligations effective as of February 11, 2013 with respect to obligations under the Master Lease. HCR ManorCare has indicated to QCP that it anticipates paying approximately $21 million in rent for October, 2017, of which approximately $12.5 million has been paid to date.

About QCP

Quality Care Properties, Inc. is one of the nation's largest actively managed real estate companies focused on post-acute/skilled nursing and memory care/assisted living properties. QCP's properties are located in 29 states and include 257 post-acute/skilled nursing properties, 61 memory care/assisted living properties, a surgical hospital and a medical office building. For more information regarding QCP, visit www.qcpcorp.com.