WOOD COUNTY, Wis. — Atrium Health and Senior Living, a skilled nursing and seniors housing operator based in New Jersey, has placed 33 of its properties into receivership, according to a Wood County Circuit Court filing. The news was first reported by the Milwaukee Journal Sentinel.
The properties are located throughout Wisconsin and one in Michigan. The court filing appears to affect the company’s entire Midwest portfolio, but not its other geographical center of New Jersey.
According to the court filing, the plaintiff in the case is MidCap Financial Services. The court appointed Michael Polsky of Milwaukee-based Beck, Chaet, Bamberger & Polsky as the receiver.
According to the Journal Sentinelreport, Polsky has hired Health Dimensions Group as an operations consultant during the process.
“Our main focus at this time is to stabilize the company and ensure that residents continue to receive seamless quality care in the centers from the staff they have come to know,” Polsky said in a statement to the Journal Sentinel. “This plan also helps ensure that all payroll and benefits are provided to employees and that vendors are paid for ongoing services on a timely basis.”
Polsky has previous experience in skilled nursing receivership proceedings. In 2017, he was also the court-appointed receiver for a 65-property skilled nursing portfolio formerly operated by Fortis Management.