Healthcare Transactions Group is pleased to announce it arranged the sale of Frostburg Nursing and Rehabilitation Center, an 88-bed Skilled Nursing Facility, in Frostburg, Maryland, owned and operated by University of Pittsburgh Medical Center (UPMC) Western Maryland. UPMC is one of the nation’s largest integrated health systems, including 40 hospitals. Mark Davis of Healthcare Transactions Group served as the seller’s exclusive Mergers and Acquisitions Advisor throughout the process. The transaction closed on March 1, 2020. Price and other details of the transaction are confidential.
Frostburg Nursing provides traditional skilled nursing care and active rehabilitation services, and offers a state-of-the-art, secure 22-bed Alzheimer’s/Dementia Unit with an enclosed outdoor courtyard. Thoroughly renovated and modernized, the physical plant was constructed originally as a hospital. The facility will be now known as Mountain City Rehabilitation Center, based on the results of a naming contest among the staff.
Healthcare Transactions Group conducted a competitive offering process to identify the right buyer, whose track record, community involvement and priorities were consistent with the Hospital system’s values and plans. The buyer was a New York-based skilled nursing facility owner and operator, with existing skilled nursing facilities in Maryland and in other East Coast states.
This sale marks Healthcare Transactions Group’s 28th long-term care facility sold in Maryland. Since 1996, Healthcare Transactions Group has been a recognized national leader in post-acute healthcare mergers & acquisitions, having closed over $2.5 billion in transactions in 35 states and in the District of Columbia.