Eight nursing homes in the region are getting a new owner after its current operator filed for bankruptcy.
Toledo-based HCR ManorCare, which has local nursing homes under its Heartland brand, has been behind on rent since 2012, and the Chapter 11 bankruptcy is part of a deal to transfer ownership to its landlord Quality Care Properties Inc.
“We have worked with (Quality Care Properties) to reach an agreement that provides stability for our employees, residents and patients,” Steven M. Cavanaugh, HCR ManorCare’s president and CEO, stated.
Quality Care Properties said in a statement that it should be a smooth transition of ownership and patient care won’t be affected. A spokeswoman with HCR ManorCare also said that the parent company’s bankruptcy won’t affect employee benefits or supplier relationships at its subsidiary locations in the Dayton area.
Locally, HCR ManorCare operates post-acute care nursing and rehabilitation centers under the name Heartland in Beavercreek, Centerville, Kettering, Greenville, Miamisburg, Piqua, Springfield and Fairfield. Heartland Hospice Services, based in Kettering, also serves a 10-county area.
Reuters reported HCR ManorCare has been struggling with reduced government reimbursements for care, low occupancy and people switching to alternative options like home health care.
Reuters said ManorCare owed $446 million in rent that was accruing at a minimum of $39.5 million every month.