Aug 12, 2013, 12:12pm EDT Updated: Aug 13, 2013, 8:57am EDT
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Mercy Health will turn over operations of nursing homes in Mariemont, Hamilton, Dayton and southern Indiana to Diversicare Healthcare Services this fall.
Mercy Health will turn over operations of nursing homes in Mariemont, Hamilton, Dayton and southern Indiana to Diversicare Healthcare Services this fall.
Catholic Health Partners, the parent of Mercy Health, is selling the nursing homes to a real-estate investment firm, which plans to lease the facilities to Diversicare (Nasdaq: DVCR).
Financial details aren’t being released, Catholic Health Partners spokesman Mike Boehmer said. Until the deal is finalized, the Cincinnati-based, nonprofit health-care system doesn’t plan to reveal the name of the real-estate investment firm.
To be sold and operated by Diversicare are:
- Mercy Health-St. Theresa, 7010 Rowan Hill Drive in Mariemont.
- Mercy Health-Schroder at 1302 Millville Avenue in Hamilton.
- Mercy Siena Retirement Community, 6125 N. Main St. in Dayton.
- Mercy Providence, 4915 Charleston Road in New Albany, Ind.
Diversicare is based in Brentwood, Tenn. A spokeswoman couldn’t immediately be reached for comment, but a statement issued by the company said the deal was subject to regulatory approval.
Catholic Health Partners also plans to sell the Laurel Lake Retirement Community in Hudson, Ohio. That deal, with the Laurel Lake Board of Trustees, is also expected to close later this year, Boehmer said.
“For the past year, (Catholic Health Partners) has been more closely aligning its senior health and housing facilities with the network of health services provided in its service areas,” Boehmer said.
Catholic Health Partners plans to continue to own and operate seven other health care and housing facilities for seniors in Ohio and Kentucky, including two in Cincinnati: Mercy Health West Park and StoneBridge at Winton Woods.
Brunsman covers Procter & Gamble Co. and health care.
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