LYNCHBURG, Va. (WFXR) – On Monday, Centra announced plans to sell its four long-term care and skilled nursing facilities to Cascade Capital Group with operations through Hill Valley Healthcare and its Life Plan Community to LifeSpire of Virginia.
The announcement comes on Monday, April 12 after a year-long comprehensive and future-focused assessment of the Central Virginia health system.
Hill Valley Healthcare specializes in operating skilled nursing facilities while LifeSpire of Virginia, owner and operator of Life Plan Communities of Virginia for over 70 years, will own and operate Centra’s facilities.
Centra signed Letters of Intent to divest Guggenheimer Health and Rehab and Summit Health and Rehab in Lynchburg; Oakwood Manor in Bedford; and Fairmont Crossing in Amherst to Hill Valley Healthcare, headquartered in Woodmere, New York.
LifeSpire, based in Glen Allen, Virginia, manages four Life Plan Communities throughout the Commonwealth. LifeSpire will acquire ownership and operate The Summit Assisted Living and Independent Living.
Centra plans to complete the transaction around Aug. 1.