The acquisition was coordinated through the bankruptcy proceedings of the seller, according to a Dec. 9 news release from CareTrust.
A large skilled nursing investor and operator will sublease the facilities to several licensed operators, the release said.
CareTrust also closed on 14 of the 31 facilities it is acquiring through a $500 million joint venture agreement in Tennessee and Alabama.
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
