Elmwood to buyout St. Francis
By MICHELLE OLMSTEAD
Enterprise Intern
clydenews@bizwoh.rr.com
GREEN SPRINGS - Elmwood Centers, Inc. announced on June 24 that the corporation is well into the process of acquiring the St. Francis Healthcare Centre from the Franciscan Sisters of Our Lady of Perpetual Help, based in St. Louis, MO.
Although Kathy Hunt, CEO for Elmwood Centers Inc., would not give a purchase price during a press conference last week, she did say the facility would be renamed "Elmwood Healthcare Center at the Springs."
The media and general public were invited to gather on the front lawn of Elmwood Centers, Inc., in Green Springs on June 24 for the announcement.
St. Francis is located on Broadway, across the street from Elmwood. While owned now by the Franciscan Sisters of Our Lady of Perpetual Help, St. Francis is managed by Vibra Healthcare.
"In the last 10 years, our community of sisters has realized the challenge a stand-alone healthcare facility has surviving, let alone thriving in today's healthcare environment," explained Sister Regina Strassburger, president of the board of directors of St. Francis Healthcare Centre.
Hunt first became aware of the opportunity of incorporating St. Francis Healthcare Centre into the Elmwood communities on Aug. 8, 2008.
"We arranged a tour, and I remember saying on the way back across the street, 'Now there's a project to tackle," Hunt said. Nearly 11 months later, Elmwood is now two-thirds of the way through the acquisition process. If everything continues as scheduled, closing will take place at the end of July.
Combining the two facilities will create a 42-acre campus, resulting in one of the largest senior and rehabilitation care campuses in Northwest Ohio. More than 600 caregivers will ultimately be serving over 400 senior and disabled adults.
Although nothing is final until closing day, Elmwood has secured a commitment for financing from Sutton Bank, in Attica. Hunt assured as many staff members from St. Francis would remain with the facility as possible.
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