Petersen Health Care in battle for $50 million share of massive nursing home portfolio
02/12/24 at 03:15 AM
Petersen Health Care in battle for $50 million share of massive nursing home portfolio
McKnight's Long-Term Care News, by Josh Henreckson; 2/6/24
An operator of nearly 100 Midwest care facilities is now embroiled in a two-front legal battle over more than $50 million in loans. Two lenders say that Petersen Health Care has failed to make payments due at 17 nursing homes across Illinois, Iowa and Missouri and are seeking foreclosure. The Peoria, IL, company is among the largest care providers in the region, employing several thousand care workers at its facilities in suburban and rural Illinois.