After a “challenging quarter” when Diversicare Healthcare Services reported a net loss of $7.4 million, (compared with a $600,000 loss last third quarter), a drop in average occupancy to 79.3% (down from 80.1%) a $6.4 million contingent liability fund regarding potential false claims violations, AND the departure of their CEO Kelly Gill, the company completed the sale of three skilled nursing facilities in Kentucky earlier this month.

As required by bank agreements, the company used the net proceeds to entirely pay off the associated indebtedness and are probably pretty happy to move on and concentrate on bigger problems. The facilities in question were in Fulton (60 beds), Glasgow (94 beds) and Clinton (88), and sold for a combined $18.7 million, or $77,300 per unit. No buyer was disclosed.