Healthcare Transactions Group arranged the sale of Bon Secours Mercy Health’s (BSMH) post-acute portfolio in Virginia. The portfolio included two skilled nursing and two assisted living facilities in the Virginia-Norfolk metropolitan area. Healthcare Transactions Group (HTG) served as the exclusive Mergers and Acquisitions Advisor to Bon Secours Mercy Health throughout the process. Mark Davis and Steve Palmen negotiated and facilitated the transaction for BSMH. The transaction closed on December 1, 2001. Price and other details of the transaction are confidential.
The skilled nursing facilities included Maryview Nursing Care Center (120 beds) and St. Francis Nursing Center (115 beds), located in Suffolk and Newport News, respectively. The assisted living facilities consisted of Province Place of DePaul (97 beds) and Province Place Maryview (78 beds), located in Norfolk and Portsmouth.
The buyer was a private equity investor in New Jersey, with an existing platform in Virginia. Healthcare Transactions Group and Bon Secours Mercy Health conducted an extensive and robust, competitive evaluation process to vet and select the most capable buyer, with an intensive and a special focus on buyer’s alignment with BSMH’s mission and values.
Bon Secours Mercy Health is a not-for-profit Catholic health system sponsored by Bon Secours Mercy Ministries, with fifty hospitals. Cincinnati, Ohio based BSMH is the fifth-largest Catholic health care ministry in the US and a top-twenty health care system in the country
Since 1996, Healthcare Transactions Group has been a recognized national leader in post-acute healthcare mergers & acquisitions, having closed over $2.8 billion in transactions in 34 states and the District of Columbia.