Personal Healthcare is Buying New Properties
The skilled nursing operator, Absolut Care decided to sale four sites and to focus only on its core business. The company determined not to renew leases for four nursing facilities. Absolut Care is selling a pair of 40-bed facilities in Eden Dunkirk, NY, 120-bed facility in Salamanca and a 100-bed facility in Houghton. This company is reducing its ownership in the area by a third. The vice president, Chris Luterek, informed that the company wants to focus only on the facilities that will remain under their management. Ephraim Zagelbaum, the founder and owner of Personal Healthcare, oversaw this opportunity and decided to expand its business, buying these facilities. The total price of the purchase was not revealed. It is speculated that Zagelbaum paid $1.3 million for the Eden nursing facility. The deal for this facility was closed on March 27. In the past several years, Ephraim Zagelbaum expanded considerably his business across different locations. He started with a s