Absolut Care, a skilled nursing operator based in upstate New York, will sell off four facilities, reducing its footprint in the area by a third.
New operator Personal Healthcare will take over a pair of 40-bed facilities in Eden and Dunkirk, N.Y., along with a 120-bed nursing home in Salamanca and a 100-bed facility in Houghton, Buffalo Business First reported.
Absolut will still have seven facilities throughout the state, with a total of 882 nursing beds and 80 assisted living beds, according to the publication.
“It’s just a business decision to focus on our core business,” vice president of business development Chris Luterek told Buffalo Business First. “We want to focus on those buildings and make those buildings stand out in their individual communities.”
The total price tag was not disclosed, but Personal Healthcare owner Ephraim Zagelbaum reportedly purchased the Eden location for $1.3 million.
The Tarrytown, N.Y.-based Personal Healthcare has more than 10 sites with about 1,300 beds, and Buffalo Business First pointed out that Zagelbaum and his family have been on something of an expansion push in the region of late: A pair of LLCs associated with the owner recently picked up two other skilled nursing facilities in New York for $16 million apiece — one for just the operations, and another for the operations and the property.
Written by Alex Spanko