Lutheran Care Network has sold three New York facilities and will finance a $15 million investment in a new style of nursing home in Saratoga County.
The project is awaiting approval from the state Department of Health. Lutheran Care Network operates 10 locations in New York. The new nursing home would be on the campus of independent senior living community Coburg Village, Albany Business Review reported.
Lutheran Care has said it is selling three other facilities for $13.5 million in order to have seed money for the new project.
