Helios Healthcare Advisors Facilitates Sale of 63-bed Skilled Nursing Facility in Franklin County, MA

CHICAGO, IL — Helios Healthcare Advisors (“Helios”) announces its role in structuring the sale of a 63-bed skilled nursing facility located in Northwest Massachusetts (the “Facility”). Constructed in the mid-1960s, the Facility was previously owned/operated by a family-run organization looking to retire from the industry. 
 
The transaction was put together in the first quarter of 2020, however the on-set of COVID-19 and numerous regulatory changes in Massachusetts impacted census and the timing of the closing. Despite these challenges, Helios was able to keep the original contract together and bring the transaction to a close under the initial purchase price of $55,555 per bed.  

“During this process, Massachusetts DPH proposed and implemented regulation to limit the number of beds to a maximum of two per room in skilled nursing facilities which had a material impact on the operations of this asset,” said Helios Managing Director, Bill Janis. “The buyer was able to work with the state to obtain waivers that allowed them to convert these units into semi-private rooms and ensure compliance post-close.” 

Helios represented the seller throughout the process.