Services

Purchase/Manage-Back Financing Leadership. The Principals were originators of the purchase/manage-back technique to solve the need of publicly held operating companies having a drag on their earnings from assets owned or leased. This technique has been successfully employed in conjunction with Marriott Senior Living Services, Inc. and Sunrise Senior Living Services, Inc.

Turn Around Services for Lenders. Prime Care affiliates have been very successful in assisting lenders with troubled facilities. We have taken over ownership of eleven skilled nursing facilities in the Cleveland area, brought in new operating management and directed a sale significantly reducing the lender's risk exposure. On behalf of lenders we bought two nursing homes out of a bankruptcy and are now selling the assets for the debt.

In 2003 the Principals were asked to assume ownership of 26 assisted living and dementia facilities that had been owned and managed by a public company that went into bankruptcy. We vetted and installed new management using the services of several regional management companies, including our own. Recently we sold the facilities for the principal debt.

Direct Facility Management Success. We have financed construction and ownership of residential facilities with both assisted living and dementia units. We have directly managed facilities across the United States. In the process we gained greater knowledge of the issues of management companies and the experience necessary to oversee their work. In the process we have formed solid working relationships with Marriott Senior Living Services, Sunrise Senior Living Services, Extendicare Health Services, Harbor Retirement Associates, CommuniCare Health Services, and many other regional management companies.

Flexible and Experienced Leadership. The Principals are Jay Hicks and Arnold Whitman, who both have extensive experience in the senior care business, and Robert Davies, who was a tax and securities lawyer. Decisions and actions are quick and flexible.