Skilled Nursing News June 14, 2024
Evans Senior Investments (ESI) brokered the sale of Henry County Healthcare Center in Paris, Tennessee. The transaction was executed on behalf of Henry County.
Built in 2001, Henry County Healthcare Center offers 136 skilled nursing beds across 5 acres of land. At the time of marketing, the facility was only 43% occupied and experiencing negative cash flows. Since the COVID-19 pandemic, the community has consistently remained in the 40-50% occupancy level month over month. Although the pandemic played a part, the primary issue has been the community’s low staffing levels, which frequently led to rejecting admissions.
Henry County Healthcare Center struggled to achieve industry-standard profitability due to its status as the sole skilled nursing facility, limiting its economies of scale.
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