Centra selling senior care facilities
LYNCHBURG, Va. (WDBJ/Centra Health Release) - Centra Health is selling its six Virginia senior care facilities in an effort to streamline operations and cede control to organizations that are “engaged, full-time, in the rapidly evolving long-term care, skilled nursing and retirement industries.”
The decision was made after a recent health care assessment by Centra’s board and senior leadership.
Centra has chosen to sell, and partner with, these facilities, rather than operating them under the Centra umbrella. The plan means selling Guggenheimer Health and Rehab, Summit Rehabilitation, Oakwood Manor, Fairmont Crossing and The Summit Assisted Living and Independent Living.
April 4, 2021, Centra signed a Letter of Intent to sell the facilities to Cascade Capital Group, the parent company of Hill Valley Healthcare and LifeSpire of Virginia. Hill Valley will then own and operate Guggenheimer Health and Rehab and Summit Rehabilitation in Lynchburg, Oakwood Manor in Bedford, and Fairmont Crossing in Amherst. LifeSpire will acquire ownership of The Summit Assisted Living and Independent Living in Lynchburg and also operate that facility. The goal is to close the sale around August 1, 2021.
According to Centra, Hill Valley and LifeSpire are ranked by the Centers for Medicare and Medicaid Services and have national reputations. Both have stated a commitment to keeping the facilities intact, retaining Centra’s caregivers, and partnering with Centra “to make sure patients, residents and the community continue to receive the same outstanding care they expect and deserve.”
Centra plans to use the proceeds from this sale to strengthen Centra’s operations and “augment the wide array of services we provide to Central Virginia.”
Copyright 2021 WDBJ. All rights reserved.