Hendersonville Health and Rehabilitation used to belong to Margret Pardee Hospital, in Hendersonville NC. I have read several articles on blueridgenow.com, the online edition of the Times News, concerning the sale. From what I have read, the hospital was losing money operating the facility. The place sold for 8.45 million dollars, with the county commissioners deciding to give the money to the hospital.
I don't know much about investing, but I have done enough research to know, there is big money in nursing homes. If not why would the Sprenger family come all the way from Ohio to buy Hendersonville Health and Rehabilitation?
If you read the articles relating to the sale, you might think a group of local physicians were the buyers. Lead by Dr. Larry Joe Russell, who supposedly orchestrated the deal. According to Medicare.gov, the majority of owners are members of the Sprenger family. They came all the way from Ohio to buy a facility that was losing money?
From what I can tell the Henderson County Commissioners must be total idiots, or there's more to the story than meets the eye. Maybe a little of both. I guess they didn't have the financial knowledge to know that Nursing and Rehabilitation centers are a huge source of profit.
Large groups of investors are buying these types of facilities all over the country. Big companies, like G.E., and some state employee retirement plans are investing in them. I guess the Henderson County commissioners didn't do their homework!
Who owns what and who is in who's pocket. I'm betting that the Henderson County commissioners, were not looking out for the needs of the community they serve. I would be willing to bet that they benefitted from this sale on a personal level.
Who is SanStone? Where did the Sprenger family come from? Why is DR. Larry Joe Russell not listed as an owner? I guess we the people, don't have a right to know.
No comments:
Post a Comment