Company offers $39 million for Montco nursing home

Decision in hands of the county commissioners

Author: , WFMZ.com Reporter, RKraft@wfmz.com
Published: Oct 09 2013 04:38:29 PM EDT
NORRISTOWN, Pa. -

Montgomery County commissioners are considering a recommendation to sell the  county's nursing home to a Maryland company for $39 million.

That recommendation was made to commissioners Tuesday morning by a county working group that evaluated proposals for the potential sale of Parkhouse Providence Pointe.

The $39 million offer is from Mid-Atlantic Healthcare, a Maryland-based company that owns 14 other nursing homes.

Mid-Atlantic is offering $36 million for the building, which has 476 beds, and related facilities plus another $3 million for the 200 acres of grounds.

The commissioners have not yet determined when they will vote on that offer, but they hope to close the deal before the end of this year.

Parkhouse employs nearly 700 people, all but 100 of them full-time. According to the county, Mid-Atlantic retains more than 98 percent of current employees when it acquires a nursing home and it will not change salaries of Parkhouse employees.

The nine-member working group that made the recommendation included members of the county’s senior staff, the Department of Aging and Adult Services, the planning commission and Parkhouse administrators.

The group was organized in July, after commissioners sent out a request for proposals to sell the property. The working group evaluated 10 responses, then made site visits to similar facilities operated by two finalists.

Parkhouse is along Route 113 in Upper Providence Township.