Build or buy…or both

Employing a two-pronged growth strategy, The MacIntosh Company is adding its sixth and seventh properties though both acquisition and development opportunities. First, the company acquired a 100-bed skilled nursing facility in Columbus for an undisclosed price. Built in 1984, the facility had been under family ownership since 1992 and featured separate wings for Alzheimer’s care and hospice services. Plus, there is additional land included within the purchase for future expansion projects. Chad Elliott and Steve Kennedy of Lancaster Pollard’s M&A group served as the sell-side advisor on the sale, while Chris Mauger and Brendan Healy of Lancaster Pollard Finance Company led the way in providing a balance sheet bridge loan to fund the purchase. In addition, MacIntosh plans to transfer 75 licensed skilled nursing beds from its 200-bed facility in Columbus to construct a new $15 million facility in Canal Winchester, Ohio. The facility should also have 35 assisted living units, all costing approximately $136,360 per bed/unit.

 

 

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