Healthcare Transactions Group arranged and completed the sale of Bon Secours Mercy Health’s (BSMH) post-acute portfolios in Ohio and Florida, marking the final phase of a divestiture process that began in November 2019. The Ohio portfolio consisted of 1,142 beds, comprising four skilled nursing facilities, four assisted living facilities, and one independent living facility in Cincinnati, Springfield, and Youngstown markets. The Florida portfolio consisted of 379 beds, comprising one skilled nursing facility and one assisted living facility in St. Petersburg. The sales of Ohio and Florida portfolios closed on March 1, 2022, and April 25, 2022, respectively. The prices and other details of the transactions are confidential.
Previously, Healthcare Transactions Group arranged the sale of BSMH’s Virginia portfolio of two skilled nursing and two assisted living facilities (410 beds), which closed on December 1, 2021.
The Florida and Ohio portfolio sale fulfills BSMH’s strategic exit from the skilled nursing, assisted living, and seniors housing sector to focus on their core acute and primary care services. The divestiture process, delayed by COVID-19, involved substantial internal stakeholder review and evaluation of potential acquirers’ operating and quality of care track records, employment practices, and alignment with BSMH’s mission and values. Healthcare Transactions Group (HTG) served as BSMH’s exclusive Mergers and Acquisitions Advisor throughout the process. Mark Davis negotiated and facilitated the transactions for BSMH. On behalf of Healthcare Transactions Group, Mark Davis stated, “it has been a distinct privilege, high honor, and career capstone to work with the dedicated and skilled professionals of Bon Secours Mercy Health on this landmark transaction for their ministry.”
Based in New Jersey, the buyer has an extensive history and family experience operating skilled nursing and assisted living facilities and an existing post-acute platform in Ohio and Florida.
Bon Secours Mercy Health is a not-for-profit Catholic health system sponsored by Bon Secours Mercy Ministries, with fifty hospitals in six states and Ireland. Cincinnati, Ohio-based BSMH is the fifth-largest Catholic healthcare ministry in the US and a top-twenty healthcare system in the nation.
Since 1996, Healthcare Transactions Group has been a recognized national leader in post-acute healthcare mergers & acquisitions, having closed over $2.9 billion in transactions in 37 states and the District of Columbia.