DEARBORN, Mich., May 24, 2021 / PRNewswire / – Henry Ford Village (“HFV”, “community”) announced today that the U.S. Bankruptcy Court in the Eastern District of Michigan has approved the sale of virtually all of HFV’s assets to HFV OPCO, LLC, a subsidiary of Sage Healthcare Partners (“Sage”), by $ 76.3 million, subject to the entry of the agreed final orders. The transaction is still subject to regulatory approvals and the usual closing conditions, and HFV expects the sale to be completed in about 90 or 120 days.
The path for the community focuses on its inclusion in Sage’s network of senior communities, and includes plans to increase programmatic activities for residents and employees while investing to improve the HFV campus more wide. Sage is also committed to maintaining HFV’s current commitments to maintain the health, safety and lifestyle of its residents.
“We are beginning a new chapter in the history of Henry Ford Village, and we are pleased to do so after achieving a stronger financial base and maintaining the best interests for the entire HFV community. Sage is already showing commitment and commitment to the people who make HFV so special and we are confident that it will maintain the values of HFV. Now we look forward to the emergence and see the long-term positive impact that Sage has on our community, “he said. Bruce Blalock, Executive Director of Henry Ford Village.
“We are pleased to have executed a strong sales process that led to a proposed order in the Court, supported by all major constituencies. We thank HFV stakeholders for coming together to support the combination and the path to in the community, ”he said. Sheryl Toby, Partner of Dykema Gossett PLLC.
“We are thrilled to give HFV a chance to thrive over the next few years and, most importantly, to start focusing on what really matters: the health and safety of all members of the HFV community.” , he said Avi Satt, President of Sage Healthcare Partners. “Our priority is to establish deep and meaningful relationships with staff and residents and collaborate to continue the legacy of a wonderful ancient community that has lived for a long time.”
All relevant sale-related paperwork, as well as additional information on the Henry Ford Village Chapter 11 case, are available at http://www.kccllc.net/HFV or by calling (866) 476 -0898 for calls from the United States / Canada or (781) 575-2114 for international calls.
Henry Ford Village is represented in this matter by Sheryl Toby by Dykema Gossett PLLC. FTI Consulting serves as Restructuring Director (CRO) and Restructuring Advisor.
About Henry Ford Village
Henry Ford Village is a community for seniors living in Dearborn, MI, which encourages you to make the most of every opportunity in life. Henry Ford Village offers three levels of care to those aged 62 and over, including independent living options, rehabilitation services and assisted living. Henry Ford Village sits on an area of 35 acres of land, home to more than a hundred clubs and activities, and state-of-the-art residential care facilities for its residents to participate in and trust. For more information, visit www.henryfordvillage.com.
About Sage Healthcare Partners
Sage is a leading housing operator for the elderly and health centers. It was based on the principles of providing high-quality resident-focused care, with genuine diligence and dedication, and to create a work environment of equal caliber. Sage owns, operates, manages and consults throughout the continuity of care for the elderly and the health space, specializing in independent living, as well as in communities of retirees of continuous care, life assisted, qualified nursing and memory care
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SOURCE Henry Ford Village