Nursing home, assisted living facility rebounds from problems involving Medicaid fraud case
BRADENTON -- A New Jersey company that operates nursing homes in the Northeast United States has purchased the once-troubled Riverfront Nursing and Rehabilitation Center.
In a $6.2 million transaction on June 5, Continuum Healthcare LLC bought Riverfront's 110-bed skilled nursing facility and its 80-unit assisted living residence, according to Manatee County property records. North Carolina nursing home management company AdvoCare was the seller.
The transaction comes three weeks after AdvoCare sold the property in a related-party transaction to an associated trust for $2.29 million. The AdvoCare Charitable Remainder Trust bought the facility on June 2 from AdvoCare of Bradenton LLC. AdvoCare companies have owned Riverfront since the 1990s.
Built in 1950 at 105 15th St E., the 61,000-square-foot Riverfront sits on almost 4 acres with a view of the Manatee River.
Riverfront is now part of a family of senior living and care institutions that includes Riverside Nursing and Rehabilitation Center in Trenton, N.J., and nursing and pediatric centers in Galloway, N.J., according to records.
The sale comes more than a year after Riverfront lost its federal Medicaid funding for several months. Last April, about 20 residents whose stay at the facility was paid by Medicaid were notified that they had to move out because the program was pulling its funding from Riverfront. The program revoked the facility's funding privileges after its former operators, Maxcine Darville and Joanne Carter, were indicted in connection with a Medicaid fraud case.
Afterward, the population in Riverfront's skilled nursing unit dropped to 18 residents. Riverfront has since regained its Medicaid privileges. The facility's administrator, Reginal Washington, said the unit's population has since built back to more than 70 residents.
Eugene Ehrenfeld, the owner and manager of Continuum, could not be reached to comment on what, if any changes, his company will make at Riverfront. Staff at the facility is expected to remain in place. Washington said 155 staff members are likely to retain their jobs at the facility.
Matt M. Johnson, Herald business reporter, can be reached at 941-745-7027 or on Twitter@MattAtBradenton.