Nursing home with financial woes receives $1.1 million bid

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PROVIDENCE, R.I. (AP) — A potential buyer has offered to pay $1.1 million for a financially troubled South Providence nursing home.

The Providence Journal reports ( Richard Land told a Superior Court judge Monday that a New York-based health care center offered to buy the century-old Bannister House.

Land said Superior Court Judge Michael Silverstein appointed him to act as receiver for the home, which has debts of more than $2 million.

He was appointed shortly after the facility's board voted to close the home due to its financial woes.

The nursing home's future will remain unsettled for at least 30 days as Land waits for other offers. Lawyers for other nursing home operators also appeared in court, which could signify additional suitors.


Information from: The Providence Journal,

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