Skilled Healthcare Group, Inc. (NYSE: SKH) announced that its wholly owned company, The Rehabilitation Center of Des Moines, LLC (RCDM), has completed the acquisition of River View Care Center, a 74-bed, skilled nursing facility located in Des Moines, Iowa. The purchase includes the acquisition of the skilled nursing facility’s operations by RCDM and separately the real estate. RCDM plans to begin building upgrades and improvements that are expected to increase occupancy rates and skilled mix while creating enhanced amenities and rehabilitation areas for patients. Built in 1965, The Rehabilitation Center of Des Moines will be renamed The Rehabilitation Center of Des Moines.
“It is a great pleasure to announce our recent expansion into Iowa, which adds a seventh state to our regional operations,” stated Boyd Hendrickson, Chairman and CEO of Skilled Healthcare Group. “We are excited about this newly acquired facility that is located in a highly populated, urban market within close proximity to local long-term acute care hospitals. We believe The Rehabilitation Center of Des Moines offers a great upside opportunity and a solid strategic fit with the resident-centered, operational focus and high-acuity model that has proven successful for our companies. Additionally, we look forward to becoming a part of the Des Moines community and providing high quality care for patients.”
For more information, click here.