|Photo from www.resthavennursing.com|
The county has selected Investment 360° in place of the previously selected purchaser, Nationwide Health Care Services, LLC. According to a press release, the previously selected finalist "declined to consummate its proposal to the County".
Board of Commissioners Chairman Frank J. Staudenmeier said, "Investment 360° not only satisfies the County's priorities, but also brings unique experience to the table as the owner and operator of a former county-owned home in western Pennsylvania. Actions speak louder than words. This company has already succesfully transition a county facility; they accomplished there what they have committed to do at Rest Haven".
Under the terms negotiated by the County, Investment 360° will purchase Rest Haven for $10,900,000. The transaction includes a commitment by the company to make major capital improvements to Rest Haven within 24 months of the sale.
"We have said from the beginning that residents and employess will come first in our decisions. Investment 360° has a proven track record of meeting and exceeding all of our goals in the challenging context of the sale of the county-owned nursing home." explained Commissioner George F. Halcovage, Jr.
Investment 360° has pledged to give first consideration for employment to Rest Haven's current employees
According to Commissioner Gary J. Hess, "What the company did in buying the Butler County home gave us tremendous comfort in moving forward with Investment 360°. Nearly 95% of the county employees were retained by Investment 360°. We have no doubt they will provide a fair transition for our employees".
The County Commissioners voted unanimously to approve a Letter of Intent for the sale. The sale contract and other documents will be considered for approval by the Commissioners on May 21, 2015. The transition is anticipated for mid-summer.