Athena Health Sells 5 More Nursing Homes to National Health Care Associates for Over $30M

Athena Health Care Systems, based in Connecticut, has sold off a significant portion of its portfolio to the New York provider National Health Care Associates, marking the second time the operator has sold off assets this year.

Athena sold five of its 15 Connecticut facilities for more than $30 million, according to a report in Hartford Business. Another Athena property, Abbott Terrace Health Center in Waterbury, is due to close on Friday after the Centers for Medicare & Medicaid Services (CMS) removed its ability to receive federal health care reimbursement.

The closure is expected to impact 209 employees, Hartford Business reported.

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“We have worked closely with National Health Care Associates to make certain that resident care and facility operations remain uninterrupted,” Athena spokesperson Savannah Ragali said in a statement. “Our highest priority is the well-being of the residents and the stability of our staff, and we are pleased that the operational transition has been smooth.”

The sale was made in an effort to streamline its skilled nursing operations, Ragali told Hartford Business. Athena will continue operating eight Connecticut facilities.

In June, Athena sold five other properties to National Health Care Associates.

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