Bill Janis and Mario Wilson of Helios Healthcare Advisors represented a family owner in their complete exit from the skilled nursing industry with the sale of their 169-bed SNF in an upscale suburb of Boston, Massachusetts. Consistently achieving a four- or five-star rating from CMS, the facility maintained a good reputation in the local market.
It was the preferred provider among the area’s ACOs and hospital systems, and as a result boasted average occupancy above 90% and a strong rehab and private pay census. The family owner had operated it for over 20 years, but the time had come for them to exit the business.
The Helios team procured over 10 offers from local and regional providers and real estate investors, ultimately selecting a private regional owner/operator based in New Jersey making its first acquisition in the state. They paid $16 million, or $94,700 per bed.
