Evans Senior Investments was brought on by Henry County in its divestment of a skilled nursing facility in Paris, Tennessee. Built in 2001, Henry County Healthcare Center comprises 136 beds across five acres. At the time of marketing, it was 43% occupied and cash-flow negative. Since the pandemic, the facility has consistently remained in the 40% to 50% occupancy level month over month.
Although the pandemic played a part, the primary issue has been the community’s low staffing levels, which frequently led to rejecting admissions. The facility also struggled to achieve industry-standard profitability due to it being the sole skilled nursing facility operated by Henry County Medical Center, limiting its economies of scale. The buyer was Brooklyn-based Ahava Healthcare, which owns around a dozen skilled nursing facilities across the country.
