Rolling Fields Elder Care Community sold to nonprofit organization
The transfer of stock from the three family members who currently own the facility to Heritage is expected to be completed in the next 10 days, Smeltzer said in an interview. He declined to reveal the cost of the transaction.
The 181-bed senior-care facility located just outside of
"We are excited about the opportunity to continue ... providing the highest quality of care and services to elders in
In explaining the motivation for the acquisition, Smeltzer placed particular emphasis on "the great legacy of
"It is their focus on providing person-centered care with a commitment to excellence that attracted Heritage to this acquisition," he said.
The location's history as an elder-care facility dates back nearly 100 years. The Ida M. Cribbs Memorial Home was dedicated by the
"I am very excited to have worked with Heritage and especially David in making this opportunity a reality," said
"I am certain that this venture will only benefit both organizations and know that our family is leaving our legacy in very capable hands," she added.
With this acquisition, Heritage and its affiliates will have assets in excess of
In his statement, Smeltzer expressed support for the current employees at Rolling Fields.
"We are also committed to the great group of care-partners (employees) who work at Rolling Fields, and we welcome them to the Heritage family," he said.
Smeltzer added that Heritage's larger organization would allow them to provide improved employee benefits.
The transition from family-owned, for-profit corporation to nonprofit will have less of an impact, he said, than the move from independent operation to being part of a larger network.
"As a stand-alone facility, whether it's for-profit or not-for-profit, it's very hard for an organization to have all of the expertise you need to meet today's regulatory environment," Smeltzer said. "We're staffed up to be able to address those types of situations."
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