The portfolio, which included 17 facilities geographically clustered throughout Ohio, was purchased in late 2018 by a joint venture between an experienced investor and a growing Ohio-based operator.

While historically operating near stabilized levels with consistent $100+ million in yearly revenue, performance drastically declined during the COVID-19 pandemic.

The seller elected to engage Blueprint to conduct a comprehensive, strategic, and confidential sales process targeting investors capable of executing complex turnaround strategies.

Blueprint’s competitive process yielded seven competitive offers and the ultimate buyer selected was an East Coast-based owner-operator seeking to leverage the recently announced Ohio Provider Incentive Program.

Blueprint, in collaboration with a highly talented team of deal participants, played an integral role throughout the process to keep all parties motivated and focused to efficiently complete the transaction.

The purchase price was $145,000,000 or roughly $73,000 per bed.