Atrium Health and Senior Living has agreed to place 33 of its properties — including nine assisted living communities in Wisconsin — into a court-appointed receivership.
The Circuit Court of Wood County appointed Michael Polsky of Beck, Chaet, Bamberger & Polsky in Milwaukee as the receiver, the Milwaukee Journal Sentinel first reported. Polsky has hired Health Dimensions Consulting Inc., which does business as Health Dimensions Group, as an operations consultant during the receivership.
Based in Little Falls, N.J., Atrium operates 44 post-acute and senior living facilities, with the majority located in the Midwest. The receivership includes 24 skilled nursing facilities (SNFs) in Wisconsin and Michigan; and nine assisted living communities in Wisconsin.
The current goal is to stabilize those properties’ operations and ensure that residents and staff receive what they need to operate normally, according to Erin Hennessey, CEO of Health Dimensions Group.
“We are looking to stabilize all financial, operational and care aspects, but we have not had a chance to assess the situation at these specific communities at this point,” Hennessey told Senior Housing News.
It’s not clear whether the affected properties will be split up and transitioned to new operators in the future, but that is a possibility.
“I think all options are being assessed, but right now the main goal is to stabilize and continue to provide care,” Hennessey said.
There are also no current plans to repurpose any of the affected SNFs into assisted living communities.
Written by Tim Regan, with additional reporting by Maggie Flynn