Shady Nook Care Center Sells To Local Buyer
By Mike Perleberg
Shady Nook Care Center in Lawrenceburg has been sold to a new owner. Photo via Shady Nook Care Center.
(Lawrenceburg, Ind.) – A Lawrenceburg skilled nursing facility specializing in dementia patients is being sold.
Shady Nook Care Center sold to a local, undisclosed buyer who will continue to operate the facility as currently established. The announcement was made Monday by Evans Senior Investments.
The nursing home has been owned by the McMullen family since 1956.
The purchaser of the nursing home was not named in Evans Senior Investments’ news release. County property records show that the property sold to Jones Holdings, LLC for $4.75 million on November 5.
Shady Nook Care Center’s current facility was built in 1984 and consists of 35 semi-private rooms and 12 private rooms for residents. At 37,332 total square feet, the facility offers an excellent layout on a recently-renovated campus that provides a wide array of resident services, including physical therapy, nursing complex care, dementia care, and social services.
In 2010, Shady Nook Care Center underwent a $395,000 general renovation project to include all new hallway carpeting, room renovations, new fixtures, and exterior painting. This renovation will help the facility’s private room wing to continue to attract Medicare Rehab residents in the future. Dearborn County Hospital, the feeder hospital to Shady Nook, is located less than 2 miles from the facility. The hospital had 1,779 Medicare patients last fiscal year with a mean length of stay of 4.65 days, signifying a large population of Medicare patients eligible for short-term rehab stays at Shady Nook. Dearborn County experienced robust growth of 32% in the 85 and older age demographic between the 2000 and 2010 census, demonstrating the strong demographics in the skilled nursing population in the area.
Jason Stroiman, President of Evans Senior Investments, commented on the smooth transaction with Shady Nook Care Center, stating it “would allow the new owner to continue the immense focus on achieving quality nursing and dementia care for the patients and residents.”