One of the country's largest private companies is breaking into the Nashville market with plans to build two nursing homes in Davidson County.
Through affiliate companies, Cleveland, Tenn.-based Life Care Centers of America received approval for a pair of Certificates of Need by the Tennessee Health Services Development Agency in late September, both of which transfered existing nursing beds to new sites. Together, the projects total 283 beds and have a $40.7 million price tag, according to HSDA documents.
Life Care Director of Legal Services Cindy Cross said the projects are an opportunity to expand its Tennessee presence into the Nashville market.
“We have 25 facilities in Tennessee, but nothing in the Nashville area, so it’s a great opportunity to reach that community,” Cross said.
Life Care was founded in 1976 by Forrest Preston and now runs more than 200 nursing homes, assisted-living, retirement, home care and Alzheimer’s centers in 28 states. Earlier this year, Forbes estimated its 2008 revenues at $2.3 billion.
The first CON, awarded to Heritage Medical Investors d/b/a Life Care Center of Stones River, allows for an $18.9 million project to build a 124-bed nursing home on Murfreesboro Road between La Vergne Couchville Pike and Hickory Woods Drive. Previously, the CON was registered to Murfreesboro-based National Healthcare Corp. (Ticker: NHC), which had intended to build a nursing home at a site on Knob Road next to Highland Park Church to replace its facility that was destroyed in a 2003 fire.
A Life Care entity bought the unused CON from NHC in October 2008 and received approval to move the beds to the Murfreesboro Road site at the agency’s September meeting. This project will also include a 104-bed assisted living facility.
The second CON is for the relocation and replacement of 159 licensed beds registered to the former Cornelia House nursing home on Porter Road in East Nashville. Those beds will move 1250 Robinson Road in Old Hickory, where Life Care will invest $21.7 million in a new facility.
Cross said both projects must complete a rezoning process before construction gets underway. She declined to give a timeline for the projects.