Nursing home system faces foreclosure amid $51M in unpaid debt
02/12/24 at 03:15 AM
Nursing home system faces foreclosure amid $51M in unpaid debt
Becker's Hospital Review, by Mariah Taylor; 2/6/24
A Peoria, IL based nursing home and assisted living company has entered foreclosure proceedings after lenders alleged it owes $51 million in unpaid debts, the Peoria Journal Star reported Feb. 5. Petersen Health Care, which owns 17 facilities, entered the foreclosure agreement with X-Caliber Funding and Capital Funding in two separate federal cases in January. Petersen alleges it was the victim of a ransomware attack in fall 2023 that took down its billing system at several facilities and "crippled" its finances.