ProMedica slashes costs of leases to nursing homes
The annual cost for leasing 168 skilled nursing homes once leased by ManorCare will fall to
The savings will allow
"It's an opportunity," she said.
Before
Terms of the divestitures have not been disclosed.
The remaining 168 homes at
That report was used for assigning an investment grade BBB+ rating to a
The services Holloran described can have higher margins than long nursing home stays.
Many big senior-care companies, such as ManorCare, have been reducing their nursing home exposure because of the lower profitability they tend to carry vs. assisted living and home care.
In addition to the 168 nursing homes
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