A few weeks after HCR ManorCare filed a pre-packaged bankruptcy petition, yet another one of its skilled nursing facilities has been sold. This facility is located in Yeadon, Pennsylvania, which is outside of Philadelphia, and Tryko Partners was the buyer.
Built in 1995, the 129-bed facility is located adjacent to Mercy Fitzgerald Hospital, which is part of the Mercy Health System. Apparently, this was not one of the underperforming facilities operated by HCRMC, as it maintained a four-star rating from CMS and a five-star rating for quality measures. Nice to hear. Tryko’s affiliate, Marquis Health Services, will operate the facility and they expect to invest more than $2.5 million in the property, which has been renamed Providence Rehabilitation and Healthcare Center.
This is the second acquisition in the Philadelphia market for Tryko, and in addition to expanding the relationship with Mercy Fitzgerald Hospital, the company likes to create specialty programs for people needing skilled nursing care. CIBC financed the acquisition, and Toby Siefert and Ryan Saul of Senor Living Investment Brokerage, Inc. handled this transaction.
