California AG approves $36M sale of 3 Sacramento-area Eskaton care centers. Here are the terms
An eight-figure dollar deal for a trio of Sacramento-area Eskaton skilled nursing facilities can go forward with conditions, California’s attorney general announced Friday.
Los Angeles-based International Equity Partners will pay $35.6 million for Eskaton’s Greenhaven, Fair Oaks and Manzanita care centers in the deal, Attorney General Rob Bonta said in a statement.
The deal will add 990 beds to International Equity’s portfolio of more than 100 care facilities across California. Cypress Healthcare Group, which operates nine facilities in the Sacramento area, will run the three centers, said attorney general’s officials.
Under the terms of the sale, buyers International Equity Partners must maintain the level of service now provided to residents; abide by all admission and occupancy agreements and leases; keep all staff in good standing; continue to participate in Medi-Cal and Medicare for eligible patients and comply with non-discrimination rules.
“After a thorough review process, I am conditionally approving the sale of these Eskaton facilities,” Bonta said. “The conditions imposed on the sale will protect the well-being of the residents and ensure that their access to care remains uninterrupted.”
Transactions involving the sale or transfer of control of a nonprofit health care facility must first be approved by the state’s attorney general under California law.
Headquartered in Carmichael, Eskaton maintains more than a dozen other skilled nursing and other facilities, such as assisted living homes, in the greater Sacramento region, the Bay Area and Stockton, according to its website. These include Eskaton Village Roseville, Eskaton Village Placerville, Eskaton Village Carmichael and Eskaton Land Park.
