After deliberation by its board and senior leadership, Centra Health plans on selling its five Virginia senior care facilities. The Lynchburg, Virginia-based not-for-profit healthcare system decided it was time to focus on its core services and hand over its senior care operations to a more senior care-focused operator.
Cascade Capital Group agreed to purchase the four skilled nursing facilities and have its subsidiary, Hill Valley Healthcare, operate them going forward. Then, Centra Health sold its CCRC to not-for-profit LifeSpire of Virginia, which owns and operates four CCRCs in Virginia. All parties have signed letters of intent and plan to close the sale around August 1.
