Healthcare Transactions Group (HTG) recently closed two transactions in Missouri and Maryland. The Show Me State deal involved Baptist Home of Independence, an 118-bed skilled nursing facility and 20-bed Residential Care Facility in the town of Independence. Built in 1977, the campus received a major renovation in 2021 and was 65% occupied.
Baptist Homes of Missouri, a faith-based not-for-profit organization based in Jefferson City, Missouri, had acquired the campus in 2021. It later engaged Healthcare Transactions Group to evaluate and recommend strategic options, leading to the not-for-profit’s decision to divest one of its senior care facilities for the first time.
HTG’s marketing process resulted in multiple offers, with Baptist Homes selecting Prime Healthcare as the buyer. Prime has owned and operated other skilled nursing facilities in Missouri and maintains a regional office in Independence. Mark Davis and Steve Palmen handled the transaction.
The firm also arranged the sale of Sagepoint Nursing and Rehabilitation Center, a 170-bed skilled nursing facility in La Plata, Maryland. The one-story building is set on a 16.8-acre campus and was built in phases in 1976 and 1992. In 2017, more private rooms and enhanced rehabilitation services were added to the building. Currently, there are 45 private rooms, 63 semi-private rooms, and occupancy is 90%. There is also an adult day care center, a medical office building with a Fresenius-operated dialysis center, and an assisted living community on the campus.
The owner, not-for-profit Sagepoint Senior Services, engaged HTG for more than two years to advise them through significant challenges, including its bankruptcy filing. HTG marketed the facility for sale amid ongoing litigation, negotiated an interim lease with Green Tree Management Company (which has been managing the facility since April 2024), advised on a transition in Maryland’s Medicaid reimbursement methodology, and addressed a potential future subdivision of the campus to enable a new owner to qualify for HUD financing.
Green Tree Management Company emerged as the acquirer of the skilled nursing facility for an undisclosed price. SagePoint will continue to own and operate the remaining campus facilities and services. Mark Davis and Daren Cortes handled the transaction.
