Daily News | Doylestown Health agrees to sell Pine Run to Presbyterian Senior Living, a not-for-profit
Doylestown Health announced Tuesday that it had reached a definitive agreement to sell Pine Run, its nearby continuing care retirement community, to Presbyterian Senior Living, a not-for-profit that owns Cathedral Village in the Andorra section of Philadelphia.
Doylestown’s latest results, for the nine months ended March 31, showed some improvement. Its nine-month operating loss was $18 million, down slightly from $20 million the year before. Doylestown improved to a $1.9 million operating gain in the first three months of the calendar year, compared to a $12.7 million loss a year ago.
Moody’s Investors Service and Standard & Poor’s Global Ratings have put extremely low credit ratings on Doylestown. “Given severity of current circumstances, an upgrade is not likely in the near term,” Moody’s said in March, even as it acknowledged improvements in operations. The buyer, Presbyterian Senior Living, based in Dillsburg, Pa., already has 10 continuing care retirement communities in Pennsylvania, and one each in Delaware and Maryland. It sold Westminster Village in Allentown two years ago. The organization also owns personal care homes and apartments for seniors, including some that are classified as affordable housing.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
The Importance of Women’s Health and Mental Health, with Beth Battaglino | Women@WorkOur CEO BBCRN joined LauraZarrow on SXMBusiness to talk about the importance of women’s health and mental health.
Consulte Mais informação »
Motorcyclist struck, killed in hit-and-run in Killeen: policeKilleen police is looking for a vehicle described as a smaller gray sedan which may have front end and windshield damage.
Consulte Mais informação »
New A24 Movie Beats Transformers Box Office In 1 Big Way (Despite 26-Theater Run)A new A24 drama's limited theatrical run makes an outstanding box office achievement that outrstrips this weekend's Transformers: Rise of the Beasts.
Consulte Mais informação »
Man dies after being run over by car in Phoenix neighborhoodA man died after being run over by a car in a neighborhood near 31st Avenue and Greenway Road on Saturday night, and police said it began as a domestic violence call.
Consulte Mais informação »
Novak Djokovic's run to record 23 Grand Slam titlesNovak Djokovic beat Casper Ruud in the French Open final on Sunday to win a men's record-extending 23rd Grand Slam title.
Consulte Mais informação »
47-year-old pedestrian seriously injured in hit-and-run crash in University HeightsPolice said the crash occurred about 8:50 p.m. Saturday at the intersection of El Cajon and Park boulevards
Consulte Mais informação »