Holmdel Nursing Home Operator Considering Sale

HOLMDEL, NJ — Hackensack Meridian Health, which operates a nursing home in Holmdel, along with several other facilities, is considering selling some of its nursing homes, according to a statement from the organization.

"We are currently evaluating the sale of our long-term care, assisted living and subacute facilities," the statement read.

No details were shared as to which facilities might be going up for sale.

"In line with industry trends and best practices, we have decided to review options to sell our business to a best-in-class service provider with an expertise in the long-term care business."

The medical provider, which is one of New Jersey’s largest and most comprehensive health networks, said that any shifts in ownership would be done "thoughtfully" and would "prioritize the continuum of care of patients and those who serve them."

The network also has nursing facilities in Wall, Shrewsbury, Red Bank and Ocean Grove, among others.
In a recent letter sent to residents, Hackensack Meridian Health said that the pandemic had an impact in its decision to consider selling, according to NJ.com.

“In the wake of enormous changes to the long-term care business resulting from the COVID-19 pandemic, we are evaluating the potential sale of some or all of our long-term care, assisted living and subacute facilities,” the letter said.

The online publication also reported that the industry has been suffering nationwide, with about half of assisted living communities operating at a loss and only one in four expressing confidence they can remain viable for more than a year, according to the American Health Care Association and the National Center for Assisted Living.