KDSN RADIO News
Iowa sees largest-ever sale of nursing home chain for $85M
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Twenty-nine skilled nursing facilities in Iowa are under new ownership following the closing of a transaction this month.
Officials with ABCM of Hampton have sold their facilities to the Chicago-based private equity firm, Cascade Capital Group.
The price tag for the sale is $85 million.
The transaction represents the largest nursing home sale ever recorded in Iowa.
Each of the facilities represents 7 percent of the 410 nursing homes operating in Iowa. The $85-million price equates to $36,000 for each of ABCM’s 2,346 skilled nursing beds and 326 assisted living units.
In 2023, the ABCM firm employed more that 3,000 people at its care facilities in Iowa.
The 29 homes involved are located in: Allison, Aplington, Armstrong, Battle Creek, Belmond, Bloomfield, Britt, Clear Lake, Elma, Emmetsburg, Garner, Guttenberg, Hampton, Independence, Indianola, Lake Mills, Lisbon, Mason City, Morning Sun, Mount Vernon, Nevada, Nora Springs, Sac City, Sigourney, Waterloo, Waukon and Webster City, and two facilities in Oelwein.
