Matt Alley Sells 52 Medicaid Beds in Texas

Matt Alley recently represented a local non-profit group in the sale of 52 Medicaid beds in Williamson County, Texas.  The buyer is a developer located in Texas.  The buyer will also have the opportunity to benefit from an increase of 13 additional Medicaid beds upon development of a new facility per the State of Texas allowing a 25% increase in the number of beds for new development projects.  For additional information, please contact Matt Alley at alley@slibinc.com or 630/858-2501.

Patrick Byrne and Ross Sanders Sell Iowa Skilled Nursing Facility

Ross Sanders and Patrick Byrne sold a 50 bed skilled nursing facility in Western Iowa.  The facility had experienced a sharp decline in revenue recently due to a new facility opening nearby.  Although the facility was unprofitable and was facing competition for residents from a newer facility, Pat and Ross were able to procure multiple offers from local and regional Buyers.  The Seller was an owner/operator from outside the state that wanted to focus on their core markets.  The new owners are committed to improving the asset and giving it additional attention.  Also, the reimbursement environment in Iowa is improving which will have a significant improvement on the bottom line.  For additional information, please contact Ross Sanders or Patrick Byrne at 314/961-0070.