A nursing home operator in Connecticut, iCare Health Network, bought eight skilled nursing facilities owned by California-based Summit Healthcare REIT (NYSE: FFWM) for $60 million. Summit REIT purchased the centers in 2017, but iCare Health Network had been the operator of the nursing homes since as early as 1999. “The transaction was not a new acquisition or growth for Connecticut-based iCare, but a transaction that returned the real estate to an entity affiliated directly with iCare as an operator,” a spokesperson told Skilled Nursing News in an emailed statement.
Read the full article: Connecticut Operator Buys 8 Nursing Homes Owned by Summit Healthcare for $60M //
Source: https://skillednursingnews.com/2024/05/connecticut-operator-buys-8-nursing-homes-owned-by-summit-healthcare-for-60m/