Tryko’s commitment to investing in healthcare facilities with significant upside potential remains deep. Tryko-owned facilities are supported by Marquis Health Consulting Services, a highly skilled and vision-driven nursing home consulting company with deep experience; decades of practice; and a wealth of knowledge, ideas and best practices for adapting to the changing healthcare industry. With Marquis’ involvement as a comprehensive nursing home administrative consulting company, its client facilities have the resources to become market leaders.
Our portfolio includes nearly 6,000 skilled nursing and assisted-living beds.
Tryko Adds Campus to Skilled Nursing/Personal Care Portfolio (Springfield, Pa.)
The acquisition of the Harlee Manor and Springfield Commons campus in Springfield has added 173 skilled nursing beds and personal care units to Tryko Partners’ greater Philadelphia regional portfolio. The purchase – at a time when the skilled nursing sector has borne significant impact from the COVID-19 crisis – punctuates Tryko’s commitment to the industry. Renamed Springfield Enhanced Senior Living, the campus and its facilities are being rebranded, including an immediate, $2.5 million investment in physical plant renovations and specialty care programming enhancements. The skilled nursing and personal care components will be known moving forward as Springfield Rehabilitation & Healthcare Center and Springfield Crossings, respectively. M&T Bank, a repeat partner for Tryko Partners, again provided purchase financing for the Pennsylvania acquisition.
“Given the current headwinds in the Senior Housing industry, it is even more critical for banks to align themselves with knowledgeable and well-seasoned management teams who understand and value partnerships. Tryko Partners continues to exercise a highly selective approach to expanding its Skilled Nursing and Senior Living portfolio, and we appreciate the opportunity to continue supporting them in executing on their growth plans.” Christian Montgomery, Vice President and Senior Healthcare Relationship Manager, M&T Bank
Tryko to Acquire Hopkins Manor in North Providence, R.I.
Tryko Partners has been selected to acquire Hopkins Manor, a 200-bed North Providence skilled nursing facility, out of receivership for a price of $14.5 million. Tryko and Marquis Health Services are providing immediate assistance to Jonathan N. Savage, Esq. of Shechtman Halperin Savage, the Rhode Island Superior Court-appointed special master for Hopkins Manor. Savage, with the help of the facility’s dedicated team of caregivers and staff, has stabilized and successfully marketed the facility, culminating in the court approval, just seven weeks after the start of the receivership proceeding. Tryko Partners has an established regional skilled nursing presence and a long history in the purchase and rapid, effective revitalization of struggling facilities. Following the Hopkins Manor acquisition closing, Tryko will infuse approximately $5 million of capital to support physical plant renovations and specialty programming enhancements.
“Our goal from day one of this proceeding was to get this critical community asset into the hands of a capable caretaker who was willing to invest for the benefit of the community as a whole. Of the 12 bidders with whom we negotiated, Tryko stood above the rest in terms of their resume, willingness to invest and track record in skilled nursing in our state. We are confident that they are the right custodians to carry this critical facility into its next chapter.” Jonathan N. Savage, Esq., Shechtman Halperin Savage
Arbor Ridge Rehabilitation & Healthcare Center Launches Pulmonary Rehabilitation Program (Wayne, N.J.)
Arbor Ridge Rehabilitation & Healthcare Center has launched a Pulmonary Rehabilitation Program, with pulmonologist Dr. Magdy Wahba overseeing the new initiative. The addition marks the first in a series of planned specialty programming enhancements being developed by Arbor Ridge and Marquis Health Services at the 120-bed skilled nursing facility in Wayne. Located at 261 Terhune Drive, Arbor Ridge provides post-hospital care, short-term rehab and long-term residential care, and maintains a four-star rating from the Centers for Medicare & Medicaid Services (CMS). Arbor Ridge Pulmonary Rehabilitation focuses on promoting independence and quality of life through reducing pulmonary symptoms and decreasing disability in acute and chronic lung patients. Program features include onsite and full-time respiratory therapy, routine physician evaluations, physical and occupational therapy seven days per week (as ordered), and 24-hour licensed nursing supervision.
“Dr. Wahba is well-regarded for his expertise in pulmonology, and Arbor Ridge is thrilled to have him leading this new initiative. Arbor Ridge is proud to align with leading providers and health systems to help achieve the best possible outcomes for its patients.” Jennifer Hertzog, Vice President of Marketing and Business Development – Mid Atlantic, Marquis Health Services
Numerous Tryko Partners healthcare properties receive five-star ratings in U.S. News & World Report’s annual Best Nursing Homes feature.