MEDICAL FAIR ASIA 2018

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Cascadia Healthcare Completes An Expansion Of Its Portfolio To 15 Facilities Becoming Largest Post-Acute Operator In Idaho

Tuesday, Nov 14, 2017

Culminating an active several months, Eagle, Idaho based post-acute healthcare company, Cascadia Healthcare is pleased to announce several transactions making it the largest post-acute care provider in the State of Idaho.

Most recently, on November 7, 2017, Cascadia of Nampa, Cascadia's new construction state of the art 99-bed Transitional Care Facility located in Nampa, Idaho, has opened its doors and commenced operations to serve the community. Cascadia expects to open a similar new construction Facility in Boise, Idaho, in early 2018.

This opening follows the September 1, 2017, completion of the final closing in a staged acquisition of a three-facility skilled nursing portfolio, that includes the newly-renamed Wellspring Health and Rehabilitation of Cascadia, a 120-bed skilled nursing facility located in Nampa, Idaho, Secora Health and Rehabilitation of Cascadia, a 53-bed skilled nursing facility located in Portland, Oregon, and Brookfield Health and Rehabilitation of Cascadia, an 83-bed skilled nursing facility located in Battle Ground, Washington.

Additionally, over the month of September, Cascadia closed a two-stage acquisition of a seven-facility Idaho skilled nursing portfolio that was formerly operated by affiliates of national operator Kindred Healthcare. The seven-facility, 584-bed Idaho portfolio includes the newly renamed Caldwell Care of Cascadia in Caldwell, Canyon West of Cascadia in Caldwell, Mountain Valley of Cascadia in Kellogg, Lewiston Transitional Care of Cascadia in Lewiston, Aspen Park of Cascadia in Moscow, The Orchards of Cascadia in Nampa, and  Weiser Care of Cascadia in Weiser.

Cascadia's recent acquisitions were added to its existing master lease with CareTrust REIT. Mark Lamb,  CareTrust's  Director of  Investments, noted "We  are  delighted to be growing again with Cascadia. They exemplify the quality of post-acute care operator committed to superior patient outcomes that the industry needs, and we are pleased that have already begun to make significant operational enhancements at the acquired Facilities."

Owen Hammond, Cascadia's co-founder and chief executive officer, said, "We are excited to be a part of the communities these Facilities serve, and grateful to CareTrust and the wonderful care teams at each of these facilities for sharing our commitment to meeting the needs of both the community and the residents."

About Cascadia Healthcare

Cascadia Healthcare is a growing 15 facility post-acute healthcare company, based in Eagle, Idaho, with operating facilities in 4 states in the NW. Cascadia was formed when partners from the skilled nursing and real estate development industry joined forces with a common purpose in mind –to be a Force for Good for our residents, our employees and the communities that we serve.

 

Source: prnewswire.com

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