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.
After the sale, the Cincinnati health system will still own seven nursing homes, including Oakwood Village in Springfield.