Private Equity Group Purchases Yeadon Nursing Home, Plans $2.5 Million in Renovations
ManorCare Health Services at Mercy Fitzgerald Hospital in Yeadon has been purchased by the owner of Kearsley Rehabilitation & Nursing Center in West Philly, writes Harold Brubaker for the Philadelphia Inquirer.
The nursing home with 129 beds has also been renamed by its new owner and is now Providence Rehabilitation and Healthcare Center at Mercy Fitzgerald.
The price has not been disclosed by the buyer, the private equity group Trykos Partners. But the group did say that it is planning to invest $2.5 million into renovations that will be done by its healthcare arm, Marquis Health Services.
Marquis currently manages 18 facilities in Maryland, Massachusetts, New Jersey, Rhode Island, and Pennsylvania.
According to Norman Rokeach, CEO of Marquis, the Yeadon facility will still work closely with Mercy Fitzgerald Hospital. Marquis is the current owner of the land on which the Providence Center sits.
Read more about the new Providence Rehabilitation and Healthcare Center at Mercy Fitzgerald in the Philadelphia Inquirer by clicking here.
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