Atrium Health and Senior Living announced Friday that a consensual agreement has been reached with its lender to have a receiver appointed for 32 Wisconsin-based facilities and one Michigan-based facility so that the company can continue to maintain normal business operations until new operators can be identified and positioned to take over the facilities.
The affected facilities include Atrium Post Acute Care of Kewaunee.
“We have determined that the most effective way to stabilize the company is to seek the appointment of a receiver who will assume all responsibility for operating the company and put it in a stronger position for a potential, future transaction,” Atrium said in a news release. “This action will allow our business to continue operating during the receivership without any interruptions to the important care services provided to our residents and their families. Additionally, the receivership protects our ability to pay our dedicated employees and meet our vendor obligations going forward.”
A Wood County judge appointed Milwaukee attorney Michael S. Polsky of Beck, Chaet, Bamberger & Polsky, S.C. as receiver of the facilities.
“Our goal will be to work together to provide the support and expertise needed to allow all of the facilities to continue delivering quality care and services to residents,” Polsky said. “With a cooperative lender, engaged landlords, a supportive ownership group and a dedicated team of employees, I am confident that all of the Atrium Health care centers will continue to operate with a ‘business as usual’ approach and keep providing the important care to their residents.”
The health, safety, and comfort of the residents will be the primary concern going forward, Polsky said.
“Our main focus at this time is to stabilize the company and ensure that residents continue to receive seamless quality care in the centers from the staff they have come to know,” he said. “This plan also helps ensure that all payroll and benefits are provided to employees and that vendors are paid for ongoing services on a timely basis.”