Providence Healthcare & Rehabilitation Center of Palos Heights
Altitude Investments, a company that through affiliates owns and operates many nursing homes in the area and throughout the country, will acquire ownership of Providence Healthcare & Rehabilitation
Center of Palos Heights, previously owned and managed by Providence Life Services. The transaction will be effective Friday, March 1, 2019. Affiliates of Altitude Investments will take over ownership of the real estate and operations of the facility.
“After strategic long-range planning and a thorough review of the organization’s fiduciary responsibilities, Providence Life Services’ Board of Directors and Board of Governors both unanimously agreed to divest ownership of this facility,” said Richard Van Hattem, Providence Life Services Board Chair. “This decision did not come easily. After diligent consideration, we determined that this decision offered Providence Life Services the opportunity to better serve more people in the future. We are also confident that Altitude will ensure a smooth transition and provide a continued warm, welcoming and caring environment for residents, families and staff.”
To ensure a smooth transition, Altitude’s affiliates have agreed to honor current residents’ contracts and plans to retain and hire existing staff.
“We are pleased to assume the operations of such a vibrant community,” said Avi Rothner, the President of Altitude. “Providence has been an excellent shepherd of this facility for the past 58 years and it has an outstanding reputation in the marketplace. Our intent is to continue to serve the community and all stakeholders with the same degree of care and diligence into the future.”
To see the official press release regarding this, click here.