Transactions: N.Y. Skilled Nursing Facility Closes Due to Declining Occupancy

New York State SNF to Close Due to Declining Occupancy

Michaud Residential Health Services in Fulton, N.Y. is making plans to transfer its 64 residents and close by October 1.

The 89-bed facility, which has been in operation since the 1970s, was previously owned by Oswego County, but was sold to not-for-profit St. Luke Health Services in 2005 for nearly $1 million due to financial struggles, Syracuse.com reports. Over the last two years, Michaud has seen more than $862,000 in net operating loses, Oswego County News Now notes.

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Hospitals are increasingly directing discharged patients to skilled nursing facilities with which they have relationships, causing small, not-for-profit, or rural facilities to fall behind on the occupancy numbers they need to stay financially stable, Michaud CEO Terrence Gorman told Oswego News Now.

Northwestern to Close Suburban Chicago Nursing Center

The Westmoreland Nursing Center at Northwestern Medicine Lake Forest in Lake Forest, Ill. will close its rehabilitation and outpatient facilities on December 31, in conjunction with the opening of a new Northwestern Hospital that will open in Lake Forest later this year, Daily North Shore repots.

Northwestern is helping the 13 current residents find a new skilled nursing facility in the area to call home.

Westmoreland, built in 1975, relies on the current hospital for many of its services, and with the new hospital being built further away, it will be less practical to service the nursing home in the future, Chris King, director of media relations for Northwestern Medicine, told Daily North Shore.

“It’s a very old facility physically,” Lake Forest Mayor Rob Lansing told Daily North Shore. “In the near term, there a lot more of these facilities in southeast Lake County. In the long term, there is an interest in a skilled nursing facility in the city.”

Diversicare Acquires Alabama SNF for $8.75 Million

Diversicare Healthcare Services (Nasdaq: DVCR), a provider of long-term care services, purchased a 103-bed skilled nursing facility in Selma, Ala. for $8.75 million. The facility, Park Place, marks the 77th SNF operated by Brentwood, Tenn.-based Diversicare, and the 18th for which the company owns the associated real estate.

Civitas Acquires Utah SNF

Civitas Solutions (NYSE: CIVI), a home- and community-based health and human services provider based in Boston, completed the acquisition of Country Life Care Center, a rehabilitation and post-acute care facility in Riverton, Utah. The SNF has 36 private living spaces for short- and long-term medical care, specifically for residents who have experienced severe injury or illness, including traumatic brain and spinal cord injuries.

Senior Living Investment Brokerage Facilitates Sale of Texas SNF

Senior Living Investment Brokerage, Inc. facilitated the $1.3 million sale of a skilled nursing facility in Knox City, Texas to a mid-sized, independent owner/operator located in the Dallas-Ft. Worth area. Previously owned by a local owner/operator, the SNF was originally built in the 1960s and has 66 beds.

“The Knox City transaction allowed for the independent owner/operator to exit the skilled nursing industry,” said Matthew Alley, Senior Living managing director, in a press release.

Alley led the negotiations on behalf of Senior Living.

Written by Elizabeth Jakaitis

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