Skilled Nursing News May 22, 2024
A nursing home operator in Connecticut, iCare Health Network, bought eight skilled nursing facilities owned by California-based Summit Healthcare REIT for $60 million.
Summit REIT purchased the centers in 2017, but iCare Health Network had been the operator of the nursing homes since as early as 1999.
“The transaction was not a new acquisition or growth for Connecticut-based iCare, but a transaction that returned the real estate to an entity affiliated directly with iCare as an operator,” a spokesperson told Skilled Nursing News in an emailed statement. “Our model was and has been distressed asset turnarounds that bring quality care and value to our residents and the community.”
In operation for 25 years, iCare Health Network,...
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