TL Management buys Bon Secours NY
New York City-based TL Management has agreed to purchase Bon Secours New York Health System (BSNY), based in Riverdale, N.Y., for an undisclosed amount. The deal includes all of BSNY’s assets, including the 364-bed Schervier Nursing Care Center and a 154-unit apartment complex for low-income seniors.
TL Management, a private company that owns more than 100 skilled nursing facilities, has agreed to hire substantially all of the BSNY workforce if possible and will respect existing unions, according to a Bon Secours press release.
“Transition plans and processes for our patients, residents, tenants, and employees have been developed and will be implemented over the upcoming months,” said Br. Arthur Caliman, BSNY board president and senior vice president of sponsorship for parent company Bon Secours Health System, Inc. “I am appreciative of TL Management’s commitment to keep the Schervier Apartments affordable, confident in their ability to maintain the long-standing mission and values of BSNY, and look forward to seeing them grow and enhance services and care to the community.”
The Bon Secours agreement is the latest acquisition for TL Management, which purchased the 404-bed Spring Creek in Harrisburg, Pa., in December.
Pamela Tabar was editor-in-chief of I Advance Senior Care from 2013-2018. She has worked as a writer and editor for healthcare business media since 1998, including as News Editor of Healthcare Informatics. She has a master’s degree in journalism from Kent State University and a master’s degree in English from the University of York, England.
Topics: Finance , Operations