September 3, 2020
Eduro Grows in Montana with Two-Building Acquisition
HELENA, Montana, September 3rd, 2020–Eduro Healthcare announced yesterday that they acquired two skilled nursing facilities in Montana. Cooney Healthcare and Rehabilitation is an 80-bed location situated in Helena on the St. Peter’s Health Regional Medical Center campus. Elkhorn Healthcare and Rehabilitation is a 70-bed facility located in Clancy, just 20 minutes from Helena. These two locations add to Eduro’s presence in the state, which was established when they acquired Butte facility, Copper Ridge Nursing and Rehab back in 2018.
The news follows some good publicity Eduro already received in the state when Copper Ridge administrator Brenna Anderson was voted a “local hero” for her quick preventative measures taken at the start of the coronavirus outbreak. Anderson was one of 12 people nominated for the recognition for “braving the coronavirus every day to keep the community as strong and healthy as possible.” (Full article)
The deal marks Eduro’s third and fourth additions to their portfolio this year. Michael Bewsey, an experienced healthcare executive and managing partner at Eduro, commented on the promising opportunities following the deal.
“We are excited because these facilities are already clinically and operationally sound, and with the added support that Eduro can provide from behind the scenes, we believe they will just keep improving.”
CareTrust REIT (NASDAQ:CTRE) provided the financial backing for the deal, and saw a 4.34% bump in share prices after announcing the two new locations yesterday. The transaction was the first to be started and closed during the pandemic, and COO Dave Sedgwick commented on the smooth transition facilitated by Eduro; “Eduro made it easy for the seller, who cared about the facilities and their legacy, to get comfortable with the sale.” (Full article)
About Eduro Healthcare
Eduro Healthcare LLC is an Utah-based national skilled nursing company with 17 facilities in nine states. Eduro puts a primary emphasis on patient care, driven by the following core values:
Wellness • Compassion • Experience • Results
If you would like to learn more about Eduro Healthcare, you can do so at www.edurohc.com