99-Bed Nursing Facility in Norwalk Acquired by FHP
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FHP Inc., the Fountain Valley-based health maintenance organization, said it has acquired a 99-bed skilled-nursing facility in Norwalk.
Jack Massimino, senior vice president at FHP, said FHP will lease the facility that was formerly operated at a loss by Life Care Centers America, a health-care organization based in Tennessee. No financial terms were disclosed.
FHP said it plans to invest $500,000 to renovate the facility.
Massimino said FHP negotiated the lease with Cumberland Investments, a Florida firm that owns the building.
It is the second skilled-nursing facility operated by FHP for its 300,000 members in Southern California; the other is in Westminster. The facilities, staffed by registered nurses, are intended to help the health maintenance organization control expenses by providing an alternative to more costly hospital care for patients recovering from surgery.
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