BOISE, Idaho, Jan. 6, 2017 /PRNewswire-USNewswire/ -- Cascadia Healthcare, LLC today announced that it has acquired the operations of three Skilled Nursing Facilities. Libby Care of Cascadia, a 101-bed skilled nursing facility located in Libby, Montana, Coeur D'Alene Health and Rehabilitation of Cascadia, a 117-bed skilled nursing facility located in Coeur D'Alene, Idaho, and Clearwater Health and Rehabilitation of Cascadia, a 60-bed skilled nursing facility located in Orofino, Idaho. Cascadia Healthcare, via wholly owned subsidiaries, has entered into a triple-net leasing arrangement for the Facilities with the real estate owner of the property. Cascadia has assumed operations effective January 1, 2017.
These acquisitions are expected to materially add to Cascadia's cash flow, while offering significant potential for growth.
"We are excited about these strategic acquisitions that allow us to expand our growing footprint into the Northern Idaho and Western Montana markets, said Owen Hammond, Cascadia's President and Chief Executive Officer. Hammond also noted that, "Cascadia is pleased that our disciplined growth plan allowed us the opportunity to acquire these Facilities and deliver on Cascadia's commitment to being a Force for Good to our residents, Employees, and the communities that we serve."
Doug Bodily, Cascadia's Chief Operations Officer, added, "We have long enjoyed a great relationship with Idaho's Department of Health and are enthusiastic to enter the Montana market with the intent to replicate that great relationship."
In addition to these acquisitions, Cascadia continues its development of two state of the art 99-bed Transitional Care Facilities in Nampa and Boise, Idaho, with both expected to commence operations in the latter half of 2017.
About Cascadia Healthcare Cascadia Healthcare is a growing post-acute healthcare company, based in Eagle, Idaho. Cascadia's principals bring a deep understanding of healthcare operations at both the facility and regional levels, having worked in different capacities over many years at one of the nation's most highly-respected publicly-traded post-acute care providers. www.cascadiahc.com
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SOURCE Cascadia Healthcare LLC