Elderwood purchases Odd Fellow nursing home in Lockport for $10 millionMarch 3, 2017
The company that operates the Elderwood nursing home chain has purchased a Lockport nursing home for $10 million.
The Odd Fellow and Rebekah Rehabilitation and Health Care Center will be renamed Elderwood at Lockport once the deal closes later this year, said Eugene L. Urban, administrator of the 126-bed facility.
Urban, who disclosed the purchase price, said the board of the not-for-profit facility had been working on a sale for three or four years. He said there were six prospective buyers. The field was later reduced to four, all of whom were interviewed by the Odd Fellows board.
“We felt Elderwood was the place. We had similar philosophies, goals and quality of care,” Urban said.
He said he will remain in charge until the closing of the purchase by Post Acute Partners, the Elderwood parent firm. Urban said he expects no change in the number of beds or in the number of employees, which currently is about 200, counting full-time and part-time staff.
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