The sale of bankrupt Iowa-based QHC facilities may be blocked — again — this time by the Centers for Medicare & Medicaid Services (CMS). The federal agency is concerned the deal will not cover $1 million owed to it. Blue Diamond Equities, a New Jersey-based privately owned real estate holdings and management company, proposed to […]
Cedar Health Group
The second attempted sale of a bankrupt Iowa nursing home chain may be held up yet again as the current owner reportedly has plans to close three of the 10 facilities. QHC was expected to sell its portfolio to Cedar Health Group after a federal bankruptcy judge gave the green light to the deal back […]
Long-term care operator QHC Facilities is selling its portfolio, which includes eight SNFs and two assisted living facilities, to Cedar Health Group – just a few months after the company filed for bankruptcy due to “crippling” staffing and retention issues. QHC Management, the company that managed the Iowa facilities, filed for Chapter 11 bankruptcy before […]
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