Nursing Home Sale Next Moves

So what's happens now that the Champaign County Nursing Home has been sold? Beyond the requirements set forth in the terms of the sale, the News-Gazette laid out some of the bureaucratic steps that will happen between the vote this week and the final transfer of ownership. From today's News-Gazette:

Due diligence, licensing next steps in sale of county nursing home
...
"It's a lot like closing any other transaction of this type," said Barbara Mann, who heads the civil division of the county state's attorney's office. "They will perform their due diligence, which means finding out all the details that we haven't yet talked about."

For instance, she said, that includes sharing information about existing vendor and employer contracts the county has for the nursing home.

"We will be providing many of those things for them to look at," Mann said.

Also in the run-up to the July 31 closing date, the buyers will need to apply to the state for a new license for the nursing home — required in a transfer of ownership.

The state issues a probationary license if the applicant is deemed responsible and suitable to operate, direct or participate in the operation of a facility "by virtue of financial capacity, appropriate business or professional experience, a record of compliance with lawful orders of the department (of public health) and lack of revocation of a license during the previous five years," according to a section of public health code.

Other licensing requirements include a licensed administrator running the nursing home and the facility itself being in substantial compliance with state regulations.

More details at the full article here, including a run down of the requirements in the terms of sale. For more information on the lead up to the vote to sell, see this post: Nursing Home Vote Tonight [UPDATE].