Tulip Special Care nursing home sold to AristaCare Health Services

Tulip Special Care nursing home sold to AristaCare Health Services

AristaCare Health Services, a nursing home operator based in New Jersey, is set to acquire Tulip Special Care, a 66-bed nursing home in the East Falls section of Philadelphia. Tulip Special Care specializes in providing care for individuals who require ventilators or have tracheostomies. This acquisition will make Tulip AristaCare’s second nursing home in the region focusing on ventilator care. The deal is expected to be finalized by May 1, and the financial terms were not disclosed. Currently, Tulip employs 85 staff members.

AristaCare CEO Sidney Greenberger expressed interest in retaining Tulip’s staff, emphasizing the challenges of finding skilled healthcare workers in the industry. AristaCare, a for-profit organization headquartered in Cranford, operates six facilities in New Jersey and has been managing AristaCare at Meadow Springs in Plymouth Meeting since 2006. The Montgomery County facility allocates a portion of its beds for ventilator patients with severe respiratory conditions.

Tulip Special Care was established in 2018 on the seventh floor of the former Medical College of Pennsylvania Hospital. Original investors Brian G. McElwee and Michael F. Young will continue to be part of the new ownership group following AristaCare’s acquisition. Young expressed optimism about the benefits that AristaCare’s involvement will bring to patients and the North Philadelphia community.

Independent nursing homes like Tulip often face financial challenges due to the inability to spread back-office expenses across multiple facilities. In the past, Tulip struggled with inadequate rates from Medicaid, but recent legislation has provided increased payments for nursing homes caring for Medicaid patients requiring ventilators. Greenberger noted that with economies of scale and high occupancy levels, these rates are manageable for facilities like AristaCare’s.

Leave a Reply