Ohio-based Premier Health is transitioning two nursing homes in Ohio to Otterbein SeniorLife and Vancrest Healthcare Centers.
Otterbein SeniorLife is adding to its portfolio the SpringMeade Health Center, which is appraised at $4.9 million, according to county records. The sale price was not disclosed.
The sale of SpringMeade was prompted by the recent partnership with Otterbein SeniorLife, which has been managing the facility since January. Bill Brownson, chair of the Otterbein board, emphasized the importance of acquiring a like-minded organization dedicated to a resident-driven model and exceptional care.
Premier Health is also transferring operations of Koester Pavilion to Vancrest Healthcare Centers.
Vancrest offers a variety of living options from home health care to campuses that offer assisted living, short term rehabilitation, and skilled nursing.
Mark White, president of Vancrest, noted that this organization’s mission aligned closely with Premier Health.
Premier Health, which has managed these facilities for years, is reducing its exposure to skilled nursing.
Kevin Harlan, president of Premier Health’s Upper Valley Medical Center and Atrium Medical Center, told the Dayton Daily News that the transitions will benefit residents, employees, and the broader community. The agreements are expected to be finalized by the end of December, with additional details to be provided at that time.
With over 11,000 employees, Premier Health operates five hospitals, including the region’s only level 1 trauma center, Miami Valley Hospital, along with multiple emergency departments and outpatient locations.
Oregon non-profit campus with SNF sold to private investor in Portland
Cedar Sinai Park, a faith-based, nonprofit organization that provided senior care for 100 years in southwest Portland, Oregon, is being sold to a private investors.
Established in a predominantly Jewish neighborhood, Cedar Sinai Park was the first Jewish organization to expand into southwest Portland in 1954 and remains a fundamental pillar in the Portland Jewish community.
The recently renovated campus consists of a 154-unit assisted living community, a currently vacant, 44-bed skilled nursing facility, and another 48-bed skilled nursing facility built in 2016. The Cedar Sinai Park campus is located within four miles of downtown Portland and within three miles of two short-term acute-care hospitals.
The campus recently achieved profitability after facing operational challenges stemming from the pandemic. It continued to demonstrate an upward trend in performance following several years of operational losses, according to Blueprint, which facilitated the sale.
Blueprint identified private owners and operators committed to providing high-quality care and honoring the Jewish legacy of Cedar Sinai Park. After multiple competitive offers, the seller ultimately selected an Illinois-based private investor along with its Oregon-based operating partner.
Companies featured in this article:
Cedar Sinai Park, Otterbein SeniorLife, Vancrest Healthcare Centers