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N.J. firm to buy nursing home for $7.8M

Rochester Business Journal
February 7, 2014

Principals of a New Jersey-based private, for-profit health care facilities operator has acquired Orleans County’s former nursing home for $7.8 million.

The sale of the 120-bed Villages at Orleans Nursing and Rehabilitation Center to Comprehensive Healthcare Management Services LLC was announced Thursday by officials of the local development corporation the county set up last year to facilitate a transfer of the nursing home to private hands.

The New Jersey firm recently acquired three Buffalo-area facilities from Catholic Health: St. Francis of Williamsville, a 142-bed nursing home and two adult homes; 117-bed St. Elizabeth’s Home of Lancaster; and 40-bed St. Vincent’s Home of Dunkirk.

Orleans County formed Orleans County Health Facilities Corp. to arrange a sale of the county nursing home to a private operator last year. Increases in state pension-fund contributions and cuts in Medicaid and Medicare reimbursements would contribute to a growing deficit, county officials predicted then.

The sale price would more than cover the Villages’ current $7.1 million operating debt, LDC chairman Russell Martino said.

Terms of the sale include a promise by Comprehensive Healthcare to not cut the unionized Orleans County nursing home staff’s salaries or reduce paid time off.

He and his partners have “long standing and good working relations with 1199 of the SEIU and a history of working with existing employees to achieve outstanding outcomes,” Comprehensive Healthcare principal Joshua Farkovits said. 

“I am pleased with the way the LDC managed the process and look forward to a smooth transition and fiscal solvency for Orleans County,” Orleans County Legislature chairman David Callard said.

Farkovits and fellow principals Bernard Fuchs and Mordy Lahasky face vetting by the state Department of Health in a review that could take up to a year, putting the expected earliest date of the nursing home’s official privatization at Jan. 1.

(c) 2014 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.


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