Atrium Health Suffers
The New Jersey-based skilled nursing and assisted living operator puts 33 of its properties into receivership. Not good for the lenders. I am sure you have heard by now about Atrium Health and Senior Living placing 33 of its properties into receivership this week. This includes all their Wisconsin properties and one Michigan facility, but appears to leave out its 12 buildings in New Jersey. Atrium operates both skilled nursing and assisted living, and only nine assisted living communities in Wisconsin were placed in receivership; the remainder were SNFs. The receiver has hired Health Dimensions Consulting to operate them during the receivership until it is decided whether to split them up... Read More »
Checking out Chetak
A city-owned senior care facility in Chetak, Wisconsin that was losing money sold to a New Jersey-based owner/operator rapidly growing its presence in the Badger State. The property features both a 97-bed skilled nursing facility that the City of Chetak built in 1963 and an adjoining 14-unit assisted living community that was added in 1997. Plus, there was a 2010 remodel of the kitchen, dining room, staff and resident lounges and the hallways throughout the building. However, occupancy had been falling in the previous years at the SNF, and the facility was losing money, compared to the assisted living, which posted positive net income. Occupancy stood at 86% at the SNF, with a 30% quality... Read More »Schedule a demo
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