FRESNO, California, June 3, 2019 — Eduro Healthcare has officially entered the California market with the new acquisition of two buildings.  Formerly owned by Dycora, the dual acquisition marks a significant point in Eduro history.  Stockton Nursing and Rehab (formerly Golden Living Hy-Pana) and Fresno Nursing and Rehab (formerly Golden Living Hillcrest) are two exciting additions to the Eduro portfolio.  Both managing partners—Michael Bewsey and Brian Ramos—have lived and worked in the industry in CA prior to forming Eduro, and grew the company in eight other states before expanding to CA as their ninth.  Bewsey expressed his enthusiasm on the topic:

“We couldn’t be more excited to enter the California market.  We have waited years for the right opportunity to come back.  Both the Fresno and Stockton markets are primed for a company like Eduro to come in and have an immediate impact. I fully expect robust lease coverage in the first 60 days and in the next 90 days we will deploy significant capital into each building and get them up to the Eduro standard we have come to expect.  With our foot in the door we plan to aggressively pursue more acquisitions in California and grow our regional footprint.”

California is known for having the largest number of senior residents, representing a significant need for quality care in the skilled nursing industry.  Chris Thompson, Eduro President, commented on their ability to successfully stand out from the competition:

“Our new California acquisitions represent the type of opportunity we are seeking: solid operational foundation with committed staff and leadership.  The Eduro operations team will be able to immediately drive the clinical and financial outcomes at each property.”

The 184 total new beds in CA mark a prominent point in Eduro’s rapid growth, and will likely be followed by additional buildings in the future.

About Eduro

Eduro Healthcare operates highly-rated transitional care and skilled nursing facilities throughout the US.  It currently operates 14 facilities in 9 states, and is the owner of an award winning regional home health and hospice agency.  Eduro was founded in 2008 and is privately-owned and operated in Salt Lake City, UT.

General Inquiries

801.601.1450

Business Development & Acquisitions

[email protected]

SALT LAKE CITY, Utah, Jan 29, 2019 — Eduro Healthcare just announced the acquisition of two additional buildings in South Dakota. Both facilities are located in the Rapid City area, with their first SD building located in Aberdeen, on the eastern end of the state. The buildings were formerly operated by Welcov Healthcare, and provide a cumulative 188 certified medicare beds to the Eduro portfolio.

Spearfish Canyon Healthcare (formerly David M Dorsett Healthcare) and Rolling Hills (formerly Belle Fourche) are two exciting additions to the Eduro family. The latter received a 5-star Medicare rating in 2018, and has recently been awarded numerous recognitions, including the ACHA/NCAL Bronze National Quality Award, as well as the Pinnacle Customer Experience Award.

Michael Bewsey, Managing Parter at Eduro, commented, “We are pleased to grow within a state where we already have a strong presence and market leader in our Aberdeen facility. With the additions of Spearfish Canyon and Rolling Hills we now have a regional presence that allows us to deploy even more corporate resources on a regular basis.  Under Eduro’s management we fully expect these two buildings to be some of our best performing assets.

We are also optimistic that the reimbursement environment is on the upswing and that we have the full support of the state in bettering the financial environment for skilled nursing.  We will continue to look for opportunities to grow in South Dakota and expand our footprint.”

 

About Eduro

Eduro Healthcare operates highly-rated transitional care and skilled nursing facilities throughout the US. It currently operates 13 facilities in 8 states, and is the owner of an award winning regional home health and hospice agency. Eduro was founded in 2008 and is privately-owned and operated in Salt Lake City, UT.

General Inquiries
801.601.1450
[email protected]

Business Development & Acquisitions
[email protected]

 

Eduro just assumed operations of Valley View Nursing and Rehabilitation, expanding its reach into their eighth state.  The 120-bed facility located in Boise, ID is a welcome addition to the Eduro family and marks the first acquisition for Eduro this calendar year.   

Most of the Eduro corporate team traveled to Boise to officially welcome the new building, continuing the popular “taco tradition” that has become a staff favorite.  A local taco truck catered the event, while Eduro corporate employees served Valley View staff while getting to know more about them and the building.  

“There are a lot of great things already going on in this building, and we know that we can supplement those with some of our own,” remarked Chris Thompson, President of Eduro.

 

Great Place to Work Institute has honored Eduro Healthcare with certification as a Great Place to Work. The certification process considered around 1,000 employee surveys from across Eduro’s various locations. Great Place to Work, an independent research and consulting firm, evaluated more than 60 elements of team members’ experience on the job. These included employee pride in the organization’s community impact, belief that their work makes a difference, and feeling their work has special meaning. Rankings are based on employees’ experiences, no matter who they are or what they do. 

Eduro Healthcare experienced significant growth in 2018, nearly doubling in size.  They added five of their ten facilities, and are poised to add several more in the near future.  “We’re thrilled to see a trend of positive feedback throughout our company at this time,” stated Chris Thompson, President at Eduro.  “Our plans are to continue to spread this positive culture as Eduro expands even more in the coming years.  We know that each and every employee has played an integral role not only in this award, but also in the company growth, and sincerely thank and congratulate them for all their hard work.”

 About Great Place to Work

Great Place to Work is the global authority on high-trust, high-performance workplace cultures. Through its certification programs, Great Place to Work recognizes outstanding workplace cultures and produces the annual Fortune “100 Best Companies to Work For®” and Great Place to Work Best Workplaces lists for Millennials, Women, Diversity, Small & Medium Companies, industries and, internationally, countries and regions. Through its culture consulting services, Great Place to Work helps clients create great workplaces that outpace peers on key business metrics like revenue growth, profitability, retention and stock performance.

Eduro officially assumed operations of their third skilled nursing facility in Colorado on Wednesday.  Formerly Avantara Crown Point, The Suites Parker is a beautiful addition to the ten buildings Eduro operates, and the third in their “Suites” series. 

The facility recently was given the National Quality Award by the American Health Care Association and National Center for Assisted Living.  Additionally, Rebecca Brown, the activities director, was named the Professional of the Year by the Colorado Health Care Association and Center for Assisted Living. 

Chris Thompson, President of Eduro commented, “We are excited to expand our presence in the Denver Market.  The Suites Parker is a distinguished building located across the street from a major hospital, so we’ll add to the great things they are already doing and help establish them as the premier partner in the area.” 

The Suites Parker has 154 medicare-licensed beds and was first opened in 2012.  Additional photos and contact info can be found on their website.

“Attention, we have a Code Janet.  Repeat, Code Janet.”

Before the intercom has finished the announcement, people are already pouring out of offices and rooms to line the hallway leading to the front doors at The Suites at Fort Collins.  Code Janet is a regular occurrence at the transitional rehab facility, and unlike most codes, is one that everyone eagerly anticipates.  Appropriately named after the first patient to discharge from the facility over 18 months ago, Code Janet is an emotional celebration for both patients and team members alike.  The cheers and applause are often accompanied by tears as the rehabilitated patient walks down the hall, heading home with significant improvements to functional movement and independence levels.  Staff from all departments join in on the celebration after witnessing the journey of each patient, each from their unique perspectives. 

For many patients, Code Janet isn’t a final goodbye to the team, even though they are leaving to move back home.  Many patients return to the luxurious facility for outpatient rehab and to enjoy the restaurant dining, which is open to the public. 

The Suites at Fort Collins is a 70 bed rehabilitation facility featuring 23 independent/assisted living suites.  Eduro Healthcare has owned and operated the facility since it was opened in 2017. 

Valeo Home Health & Hospice, a Utah-based agency owned by Eduro Healthcare, was just named a Top Workplace for the second year in a row.  The Salt Lake Tribune, in conjunction with Energage, conducts an annual competition that surveys employees within nominated companies about workplace satisfaction.  The survey includes several statements that the employee can rate depending on their level of agreement.  Below are a few of the examples:

• My job makes me feel like I am part of something meaningful
• I have the flexibility I need to balance my work and personal life
• Senior managers understand what is really happening at Valeo
• Valeo operates by strong values
• There is good inter-departmental cooperation at Valeo

The point of the survey offered by Energage is to better understand what more the employer can do to ensure team members feel happy and fulfilled in their jobs.  Valeo boasts an employee retention rate significantly longer than the industry average, and the survey results were a clear indication that this won’t change soon.  Common feedback from employees highlighted the quality of patient care, strong team mentality, and ability to be heard by superiors. 

In addition to the Top Workplace award, Valeo has also been awarded the Best of State, Health Insight Quality, and the Home Care Elite awards.  To learn more, visit their website.

Watch the event highlights here.

We’re not saying that tacos can fix everything, but they certainly can’t hurt.  Eduro Healthcare’s success story in Albuquerque, NM is a recent testament to this.  Formerly the Rio at Cabezon, the facility had just received a survey with around 38 deficiencies—with the threat of decertification—before CareTrust REIT decided to switch operations over to Eduro.  Managing partner Michael Bewsey and 18 corporate team members made sure to be at the facility on Day 1 of the switch, calling in a taco truck to treat all active employees at the time. 

After everyone had their fill, Eduro held deep discussions with staff to better understand how to improve, which led to replacing upper management and focusing on strengthening relationships with key partners in the area.  Within 90 days, they had an building reevaluation and had resumed admissions from local hospitals.  “The facility now looks and feels like a new building,” remarked Bewsey.  “Because of our success in difficult turnarounds like this one, we have been a proven partner to CTRE and plan to continue growing with them.” 

That claim was validated as CareTrust recently placed Eduro over their new $9.7M investment in Aberdeen, SD, a former HCR ManorCare facility.  Eduro has begun to establish themselves in “secondary” markets, finding success outside metropolitan areas with a business model similar to that of Ensign Group.  Read more about it in the full article.

CareTrust REIT is a real estate investment company that has worked closely with Eduro, already acquiring three skilled nursing facilities this year.  Despite having fewer acquisitions than normal in this year’s second quarter, CareTrust is optimistic about their strategic position in the skilled nursing field.  Chairman Greg Stapley commented on the recent changes within the field, stating the 2.4% increase to Medicare rates this October, as well as the advent of PDPM (Patient-Driven Payment Model) “have actually brought a welcome tailwind to the skilled nursing sector.” 

Chief Investment Officer Mark Lamb commented on the relationship with Eduro, stating their most recent acquisition has been “the third near-seamless transition that Eduro has executed with us this year, and brings our total investment year-to-date to approximately $57 million.”

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