Selectis Health Enters Definitive Agreements for Sale of Skilled Nursing Facilities

Selectis Health, Inc. recently disclosed its completion of a series of Purchase and Sale Agreements (PSAs) involving the transfer of four skilled nursing facilities. The agreements, effective as of February 7, 2025, were executed by various subsidiaries of Selectis Health with Abbeville Propco Holdco, LLC, a Delaware limited liability company. The facilities involved in the transactions include Glen Eagle Healthcare & Rehab, Eastman Healthcare & Rehab, Providence of Sparta Health and Rehabilitation, and Warrenton Health and Rehabilitation.

The combined purchase price for the four facilities under the PSAs totals $27.0 million, subject to customary prorations, holdbacks, and adjustments typical for transactions of this nature. The completion of these agreements is subject to various conditions, including the satisfactory completion of due diligence and other customary requirements.

In addition to the Purchase and Sale Agreements, Operations Transfer Agreements (OTAs) were executed to facilitate the transfer of skilled nursing operations from Selectis Health’s subsidiaries to new operators affiliated with the Purchaser. These agreements, if finalized, will oversee the transition of operations to the new entities. The consummation of the OTAs is dependent on the completion of the PSAs and other customary conditions for such transactions.

A corresponding Escrow Agreement was established among Selectis Health’s subsidiaries, the Purchaser, and the Escrow Agent, outlining the terms for the delivery of an initial deposit and subsequent funds into an Escrow Fund.

Selectis Health noted that the Sparta Facility’s sale was covered under a separate PSA due to the Purchaser’s intention to assume the HUD loan associated with it.

The PSAs, OTAs, and the Escrow Agreement have been filed as part of the Form 8-K SEC filing for public review. Selectis Health highlighted that the consummation of these agreements is not guaranteed.

Market analysts are attentively monitoring Selectis Health’s strategic divestiture moves, particularly amidst the evolving landscape of healthcare real estate transactions in the United States.

The company’s stock performance and future financial updates are also being closely observed following these recent developments.

This report is based on the Form 8-K SEC Filing by Selectis Health, Inc. concerning the definitive agreements for the sale of skilled nursing facilities. For additional details, the filing and its associated exhibits are available for review on the Securities and Exchange Commission’s website.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Selectis Health’s 8K filing here.

Selectis Health Company Profile

Selectis Health owns and/or operates healthcare facilities in Arkansas, Georgia, Ohio, and Oklahoma, providing a wide array of living services, speech, occupational, physical therapies, social services, and other rehabilitation and healthcare services. Selectis focuses on building strategic relationships with local communities in which its partnership can improve the quality of care for facility residents.