Lewiston-based North Country Associates is selling 15 Maine nursing homes to New York investment firm Vantage Point Capital LLC.
A separate company, Utah-based Tide Group, will operate the facilities, which employ roughly 1,400 people and serve 1,000 patients and residents.
North Country expects the sale to be completed early next year, pending approval by the state. The company will continue operating five other facilities that serve older adults and individuals with intellectual disabilities.
The CEO of Vantage Point Capital, Eugene Ehrenfeld, settled a lawsuit in 2021 over an outbreak of adenovirus at a New Jersey nursing and pediatric facility that killed 11 children.
This story appears through a media partnership with Maine Public.