Michigan

DEARBORN, Mich. — An affiliate of Sage Healthcare Partners has been awarded the winning bid to acquire Henry Ford Village out of bankruptcy. Located on 35 acres, Henry Ford Village is a continuing care retirement community (CCRC) in the Detroit suburb of Dearborn. Sage’s bid of $76.3 million exceeded the $69M stalking horse bid placed by MED Healthcare Partners in March. The transaction is subject to bankruptcy court approval, as well as regulatory approvals and customary closing conditions. In accordance with the terms outlined in the asset purchase agreement presented …

DEARBORN, Mich. — Henry Ford Village has entered into a stalking horse asset purchase agreement with MED Healthcare Partners, in accordance with bid procedures approved by the U.S. Bankruptcy Court for the Eastern District of Michigan, Southern Division. Under the terms of the stalking horse agreement, MED would acquire substantially all the community’s assets for $69 million. Pending approval, MED will add the continuing care retirement community (CCRC) into its portfolio, which currently includes five CCRCs,150 skilled nursing facilities and 20 assisted living and memory care facilities across the country. …