Cincinnati hospital system Catholic Health Partners is selling four nursing homes, including facilities in Dayton and Hamilton.
Catholic Health is selling Mercy Siena Retirement Community in Dayton, Mercy Providence in New Albany, Ind., Mercy Health – Schroder in Hamilton and Mercy Health – St. Theresa in Mariemont to a real estate investment firm, according to system spokesman Mike Boehmer.
The firm will, in turn, lease the facilities to Diversicare Healthcare Services Inc. of Brentwood, Tenn., a publicly-traded company that currently operates 53 long-term nursing centers across the country. Once the sale closes, Diversicare will operate the four newly-acquired skilled nursing facilities. The company is expected to begin operating the facilities later this fall.
Catholic Health will not release the name of the real estate firm until the closing occurs, nor are officials disclosing the sale price.
“For the past year, CHP has been more closely aligning its senior health and housing facilities with the network of health services provided in its service areas. Some SHHS facilities, due to location and/or service mix, are not well positioned to serve our care continuums in specific areas,” read a written statement provided by Boehmer.
After the sale, the Cincinnati health system will still own seven nursing homes, including Oakwood Village in Springfield.
“We’re building networks of care and these are ones that are more suited to the network geographically and in terms of what they offer,” Boehmer said about the nursing homes Catholic Health is retaining.
In addition to the four senior health and housing facilities in Ohio and Indiana that will transition to Diversicare, Laurel Lake Retirement Community in Hudson, Ohio, also will be sold to the Laurel Lake Board of Trustees, according to Boehmer.
Dayton’s Mercy Siena Retirement Community has 99 skilled nursing beds, 68 assisted living apartments, and 135 full-time equivalent staff, Boehmer said. Hamilton’s Mercy Health – Schroder consists of a 17-acre campus on the west side of Hamilton with 90 full-time employees, 155 full- and part-time employees total, and 100 residents and patients, he said.