Receiver Files Lawsuit Against Former Welcov Execs, Seeking at Least $18M

The court-appointed receiver in the bankruptcy of Edina, Minn.-based Welcov Healthcare has sued two executives from the now-defunct skilled nursing operator, seeking at least $18 million. The Minneapolis Star Tribune first reported the news. Lighthouse Management Group filed suit against former Welcov CEO Paul Contris and company president Thomas Boerboom in Hennepin County, Minn., alleging […]

Landlords Voluntarily Took Back Seat in Welcov Bankruptcy

To facilitate the transfer of Welcov Healthcare’s 22 skilled nursing facilities to new operators, the provider’s landlords agreed to take a back seat to vendors in the repayment line, with the goal of resolving an unusual bankruptcy proceeding. That’s according to court documents and a recorded hearing, which detail the transfer of operations and the […]

Skilled Nursing Operator Welcov Folds, Transfers 22 Properties

More than 20 skilled nursing facilities operated by Welcov Healthcare are now under the control of new operators, court documents filed Monday show. The chain reached an agreement to formally transfer oversight of 22 SNFs in Minnesota, Wyoming, Iowa, and South Dakota to new operators. Lighthouse Management Group, Inc., a Brighton, Minn.-based consulting firm that […]