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NJ Corp. Pays $5.67M for Two Nursing Homes Here
YOUNGSTOWN, Ohio -- CareRite Centers LLC, a nursing home operator based in Englewood Cliffs, N.J., has acquired the Beeghly Oaks Nursing Home in Boardman and Pembrooke Place Nursing Home in Youngstown.
The company paid $2.85 million for Beeghly Oaks, a 57,000-square-foot nursing center with 140 beds at 6505 Market St. in Boardman, according to the Mahoning County auditor's office. CareRite renamed the skilled-nursing home Beeghly Oaks Center for Rehabilitation & Healing.
CareRite also acquired Pembrooke Place, 850 E. Midlothian Blvd., for $2.82 million, records show. Pembrooke, a 63,732-square-foot home with 99 beds, has been renamed the Oasis Center for Rehabilitation & Healing.
The acquisitions took effect Nov. 1, said Ashley Romano, national director of patient satisfaction at CareRite.
"We're excited," she said. "The idea is to give the staff what they need to succeed."
Romano said CareRite has a track record of purchasing skilled-nursing centers and making improvements such as adding new equipment and enhanced training for the staff.
"We want to give them any additional tools they need to succeed, whether it’s equipment or education. We're very big on educating our staff," Romano said. "We do large renovations to make sure everything is state-of-the art and residents feel like its more their home away from home."
Renovations at both should begin within the next 24 months. "Each community has their own plan," Romano said.
Beeghly Oaks, for example, is slated for new programs that focus on clinical disciplines such as cardiovascular, pulmonary care, orthopedic rehabilitation and wound care.
The seller of both homes is listed as Vrable Land Holdings LLC of Dublin, Ohio.
In September 2007 the former Foroum Health sold Beeghly Oaks to Vrable Health Care, which had purchased the former Pembrooke Place in February of that year.
CareRite is the second company in less than a month to acquire nursing homes in the Mahoning Valley. In early November, CHCC Health Care Centers Inc. announced it would cease operating its Campus Health Care Center in Liberty and its Cedarcreek Health Care Center in Warren by Dec. 31.
Tennessee-based New Beginnings will assume management of both nursing homes Jan. 1 and save about 150 jobs in doing so.
According to its website, CareRite operates two other nursing homes in Ohio – the Heritage Center for Rehabilitation & Specialty Care in Minster, which it also purchased Nov. 1, and the Hospitality Center for Rehabilitation & Healing in Xenia.
Two years ago, the company acquired two health care centers in Greater Pittsburgh and today operates three in Pennsylvania. It also owns and operates eight centers in New York.
-- Mark Heschmeyer contributed to this report.
Pictured: Beeghly Oaks.
Copyright 2014 The Business Journal, Youngstown, Ohio.
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