Virginia-based Sentara Healthcare is selling all seven of its skilled nursing and senior living communities to Saber Health Group, an Ohio-based senior living and care organization with more than 120 facilities nationwide. That’s according to an article Friday in The Virginian-Pilot.
The sale, which is expected to close Nov. 1 for an undisclosed price, will put the nonprofit healthcare system out of the senior living and care business, the news organization reported. Paul Gaden, corporate vice president of Sentara’s western region, told The Virginian-Pilot that the company decided even before the pandemic began that it does not have the “niche expertise” to continue running long-term care centers.
“What the pandemic did do was really validate our decision to seek a partner that [had this for] their sole focus and sole business,” Gaden said. “It’s complicated, and it’s an extremely vulnerable population.”
The news organization also noted that the deal with Saber was struck before Sentara’s announcement Wednesday that it will merge with North Carolina-based Cone Health. Representatives from Sentara and Cone said the integration of the two companies could allow them to focus on expanding outpatient medical services and add more digital and virtual-visit technology.
Employees at the sold facilities will have the option to work for Saber or be reassigned to other positions within the Sentara system, the firm reported. Sentara also will continue owning two Programs of All-Inclusive Care for the Elderly in Virginia.
