From WILL - News Local/State -

Vermilion County Board OK’s Nursing Home Sale

By a nearly unanimous vote, the Vermilion County Board has approved the sale of its county-owned nursing home to FNR Healthcare Group.

County Board Chair Gary Weinard said transferring Vermilion Manor to the private equity firm could be official as soon as Aug. 1 following Wednesday’s 23-1 vote.

The county has been struggling with late state reimbursements for Medicaid and Medicare. 

Weinard said the board had considered other sources of revenue, including leasing the home to an outside company, and making part of the home an assisted living facility.  

But Weinard said the vote proceeded after voters allowed for the sale last fall. He said the $3.4 million sale was the best option, given FNR’s track record.

“The owners of that company have in excess of 30 years involvement with and running in nursing home and nursing home-like business – they’re very familiar with how it works," he said.  "We’ve checked their credit, they have an exceptional credit rating, they have access to the monies that they need.”

FNR Healthcare was chosen over IDE Management Group. The sale will include an additional $2-million in capital improvements for the home.

The lone ‘no’ vote came from Democratic county board member John Criswell.

Categories: Economics, Government, Health