Regency Post-Acute Healthcare System announced last week it has entered into a contract of sale with Regency Integrated Health Services, an affiliate of Capital Senior Care Ventures.
Capital Senior Care Ventures is a joint venture partnership between BlueMountain Capital Management and Capital Funding Group that invests in health care facilities across the post-acute spectrum.
The transaction is scheduled to close on Feb. 12.
Details were not available about whether the current leadership will continue working at the health care system that manages 32 skilled nursing facilities in south and central Texas.
Upon closing the deal, Regency Integrated will hire all existing employees of the system as well as its affiliated facilities and ancillary companies, according to a news release.
The transaction includes the sale of Regency's facilities as well as several ancillary companies affiliated with the system.
In the Crossroads, Regency manages Cuero Nursing and Rehabilitation Center, Port Lavaca Nursing and Rehabilitation Center, Yoakum Nursing and Rehabilitation Center and Wharton Nursing and Rehabilitation Center.
Regency's headquarters has been in Victoria since 1994.
The new company, Regency Integrated, will maintain the Regency brand and its operating strategies.
"The commitment to quality care for Regency's residents is Regency Integrated's top priority," according to the news release.
"The ownership transition is expected to be seamless and without impact to patient care.
Regency Integrated will build upon Regency's outstanding patient care, while continuing to nurture an atmosphere where employees grow and develop," the release continued.
Regency Integrated will maintain current partnerships with local hospitals, physicians and other healthcare providers in the markets it serves to better integrate the delivery of post-acute care.
The release stated that residents, families, employees and business associates will notice little change and the outgoing ownership has committed to staying engaged in the transition process.
According to the release, the joint venture between BlueMountain and Capital Funding Group combines industry expertise and fiscal strength that will allow for increased growth opportunities for Regency to continue a strong tradition of passionate care that has existed for more than 25 years.