An unknown buyer entered into agreement to acquire Glen Eagle Nursing and Rehabilitation from Selectis Health, Inc..
December 04, 2023
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An unknown buyer entered into agreement to acquire Glen Eagle Nursing and Rehabilitation from Selectis Health, Inc. (OTCPK:GBCS) on November 30, 2023. In related transactions the buyer agreed to acquire Eastman Healthcare & Rehabilitation, Glen Eagle Nursing and Rehabilitation, and Providence of Sparta Healthcare and Rehabilitation facilities for an aggregate consideration of $31 million. The transaction is expected to close at least 45 days after the completion of the due diligence period and (ii) obtaining the necessary regulatory approvals, on the first business day of the first calendar month after the last of these processes is complete.
Selectis Health, Inc. acquires, develops, leases, manages, and disposes of healthcare real estate, provides financing to healthcare providers, and provides healthcare operations through its wholly owned subsidiaries. Its portfolio is comprised of investments in three healthcare segments: senior housing, including independent and assisted living, and post-acute/skilled nursing facilities. The Company owns and operates, through wholly owned subsidiaries, Assisted Living Facilities, Independent Living Facilities, and Skilled Nursing Facilities across the South and Southeastern portions of the United States. Assisted Living Facilities are licensed care facilities that provide personal care services, support, and housing for those who need help with activities of daily living yet require limited medical care. Independent Living Facilities are designed to meet the needs of seniors who choose to live in an environment surrounded by their peers.