Seven of eight former Dycora Transitional Health and Living skilled nursing facilities in Wisconsin have emerged from receivership under the operation of Bedrock Healthcare LLC.
The Beaver Dam Daily Citizen of Beaver Dam, Wisc. initially reported the news on Wednesday.
The properties initially entered receivership back in April at the request of landlord Golden Living Centers, which asked a county court to put veteran Wisconsin nursing home receiver Michael Polsky in charge of the facilities after Dycora defaulted on its leases and requested additional financing to help meet vendor bills.
Polsky selected Menominee River LLC, an affiliate of Golden Living, to serve as the temporary operator until a permanent solution could be found; the Plano, Texas-base Golden Living had operated the facilities until 2017, when it leased them to Dycora.
“Golden Living is one of the best in the business, and I am pleased that they have agreed to take on this important assignment,” Polsky said.
Bedrock formally took over operations of seven facilities — located in Abbotsford, Beaver Dam, Fort Atkinson, Glendale, Greendale, Muscoda, and Watertown, Wisc. — as of Tuesday, the Daily Citizen reported. A second facility in Glendale remains under the receivership arrangement, according to the publication.
Messages to Polsky and Bedrock chief operating officer Kenneth Nichols were not returned as of press time, though Nichols told the Daily Citizen in an e-mail that the company was working to stabilize the staffs at the facilities and “re-integrate into each community that it serves.”
“We are dedicated to meeting the clinical, functional, psycho-social and emotional needs of the residents,” Nichols said, according to the Daily Citizen. “By challenging our caregivers to provide innovative health care services and pursuing more effective ways of treating the residents, we believe the residents — through personal initiative and encouragement by others — can attain the highest quality of life possible.”
A LinkedIn page for Nichols lists him as co-founder and COO of Bedrock, with a start date of November 2018. His previous listed experience includes stints at Infinity Health Care Management, Skyline Healthcare, and Brookdale Senior Living.
The Wisconsin facilities weren’t the only recent receivership actions for Dycora: Three more properties in California entered the arrangement, which typically serves to protect struggling buildings’ operations until a new operator can be found, a few weeks after the Wisconsin buildings.
“The Medicaid reimbursement challenges in Wisconsin were a major factor in our decision making process and the three California locations were tied to [the] Wisconsin master lease agreement,” Dycora co-founder and CEO Julianne Williams said at the time. “We have notified those employees who will be directly impacted by this change in management and will ensure a smooth transition to the state appointed receiver.”