$22M Nursing Home Rejected in Florida, Masonicare Sells $13M SNF
Florida’s Agency for Health Care Administration gave and took away in a recent round of projects that it reviewed for the central region of the state, the Orlando Business Journal reported.
The agency, which is responsible for Florida’s Medicaid program and the licensure of its health care facilities, rejected a 110-bed nursing home for the Lake Nona region and approved a 61-bed nursing home in Sanford.
Premier Living Centers, which is based in Ridgeland, Miss., will build the $12.7 million, 45,687-square-foot Sanford nursing home. Currently the area has one existing nursing home, which is at 92% occupancy. The Premier project is expected to create 59 jobs, which include five registered nurses, six licensed nurse practitioners, 20 nurse aides, a director of nursing and an administrator.
Conway Lakes NC LLC, which is based in Atlanta, had planned a $22.5 million, 85,150-square-foot nursing home; it had been considering six potential sites in the Lake Nona region in central Florida for the project, Orlando Business Journal said.
In addition, some nursing home beds were approved to be added to existing facilities.
Innovative Medical Management Solutions LLC, which is based in Tampa, is expected to add 20 beds to a $15.8 million, 60-bed facility in Lake County through the renovation of about 9,120 square feet on the existing project. The facility is scheduled to open in July 2020 and will be managed by Greystone Healthcare Management, according to the article.
Masonicare Sells Connecticut SNF
Masonicare Corp., based in Wallingford, Conn., sold its skilled nursing and assisted living senior care facilities in Newtown, Conn., for $13.1 million the Hartford Business Journal reported.
Athena Newtown CT LLC, part of Athena Health Care Systems, is slated to buy Masonicare at Newtown Inc. — which includes a 154-bed skilled-nursing facility that provides nursing and rehabilitation services.
The decision to sell was based on the rise of in-home and community rehab care, in addition to the challenges of operating a nursing home that primarily depends on Medicaid, Jon-Paul Venoit, the CEO of Masonicare, told the publication. Masonicare is not entirely exiting the nursing home business and will keep running its 375-bed nursing home at its main Wallingford campus, he added.
The sale is contingent on regulatory approvals; if a certificate of need is not required, the sale could close in a few months, Venoit indicated.
Written by Maggie Flynn