Skilled Nursing News May 12, 2022
Alex Zorn

A large Midwest-based company has transitioned from operator to owner-operator at 12 facilities in Pennsylvania and Delaware after purchasing the assets for $140.5 million in a deal announced on Wednesday by CIBC Bank USA.

The seller, a private equity firm, has reportedly been looking to divest from the space. Neither the buyer or seller in this transaction were disclosed by CIBC.

The Midwest-based buyer assumed Department of Housing and Urban Development debt and CIBC financed a $73 million acquisition loan for the transaction, the bank announced in a news release announcing the deal.

Operating performance has reportedly been trending favorably at the facility as the buyer plans to utilize its economies of scale and knowledge of the market to boost...

Today's Sponsors

Canton & Company
Curation Health

Today's Sponsors

Oliver Wyman

Today's Sponsor

Canton & Company

Topics: Mergers & Acquisitions / JV, Post-Acute Care, Provider, Trends
Hospice M&A Outpacing Other Sectors Despite Q1 Slump
ASC investments heat up: 6 deals to know
Inside the New $65M Joint Venture Between Acadia Healthcare, Tufts Medicine
Orchestra BioMed cues up Medtronic partnership, $400M SPAC deal
WebMD acquires analytics specialist Mercury Healthcare