After 34 years of ownership, Masonicare is selling its large skilled nursing facility in Newtown, Connecticut, citing many of the issues facing small SNF operators today as the reasons for its exit. The Connecticut not-for-profit currently operates a senior living community, a CCRC, a health center and a number of home health agencies throughout the state.
But the skilled nursing facility in Newtown, which included 154 SNF beds and 55 assisted living units, had been losing money in recent years caused by declining census, rising patient acuity and tightening reimbursement. Athena Health Care Systems, a Connecticut-based specialty care provider with about 45 skilled nursing facilities in three New England states, will look to use its larger regional presence and economies of scale to turn the facility around.
