Transactions: Nursing Complex Sale in Upstate NY, SunTrust Funds Virginia CCRC Expansion
Post Acute Partners to Buy Majority Stake in Upstate NY Nursing Complex
Weinberg Campus, a New York state senior living provider, agreed to sell the majority of its main nursing home and senior care complex in Amherst, New York, to Post Acute Partners, The Buffalo News reported.
The Weinberg facilities will be operated by Post Acute Partners as part of its Elderwood network.
New York City-based Post Acute Partners has more than 4,600 employees and operates in Massachusetts, New York, Pennsylvania and Rhode Island.
The sale requires government approvals that could take up to a year, The Buffalo News noted.
Westminster Canterbury-Lynchburg Secures $38.2MM from SunTrust to Construct Six-Story Health Care Center in Virginia
Atlanta-based SunTrust Bank made a $38.2 million loan to Westminster Canterbury-Lynchburg, a nonprofit continuing care retirement community (CCRC). The loan allowed Westminster, which provides a range of housing options from assisted living to short-term rehabilitation, to finance a new six-story health care center in Lynchburg, Virginia.
The health center will include four floors of private rooms for residents, for a total of 84 units. The center’s construction is expected to be completed by late spring in 2019.
Bundled Payment Company Teams with PointClickCare
Remedy Partners, a Darien, Connecticut-based bundled payment plan, announced a partnership with PointClickCare to streamline data sharing between acute and post-acute providers.
Remedy Partners’ data-driven technology platform, Episode Connect, will integrate with PointClickCare’s electronic health record (EHR) and revenue cycle management platform, combining episode-of-care data for patients in compliance with HIPAA. After integration of the patient data in Episode Connect, professionals across all existing and future care settings can access the information in a single space.
In addition, PointClickCare and Remedy Partners are partnering to pilot other technologies for better management of patients in the post-acute setting, especially in the community and home spaces.
Written by Maggie Flynn