A struggling senior care operator has placed 33 facilities into receivership, following a Wisconsin court order.
A Wood County Circuit Court judge Friday tasked Atrium Senior living with keeping a few dozen of its facilities open and running as it seeks a new operator for them, the Milwaukee Journal Sentinel reported. The company has reached an agreement with its lender to enter into receivership, which the newspaper notes is a sign that it is unable to pay its debts and is at risk for liquidation.
“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,” the company said in a statement. “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.”
Minnesota-based Health Dimensions Group has been tasked with overseeing the homes, which include 23 skilled nursing and nine assisted living facilities in Wisconsin, and one more SNF in Michigan. Milwaukee Attorney Michael Polsky, of Beck, Chaet, Bamberger & Polsky, S.C., will serve as receiver of the facilities.
“The health, safety and comfort of the residents will be the primary concern going forward,” the receiver said in a statement. “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.”
