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What stood out to us most about working with Decker Healthcare Group was their ability to create a real market for our assisted living and memory care community and bring qualified buyers to the table. One of our biggest concerns from the beginning was whether there would be enough interest from experienced senior housing operators willing to invest in a rural market. We were not looking for just any buyer. We wanted a buyer with relevant operating experience and the resources to continue serving our community.
Decker generated interest from multiple groups, including both in state and out of state providers, and introduced us to organizations with the experience and resources to operate a community like ours. Their process gave our board confidence that there was a market for the asset and ultimately helped us identify the buyer that best aligned with our objectives.
The reality is that Critical Access Hospitals operate under a unique reimbursement system. Because senior housing is generally treated as a non-allowable cost center, ownership of our community had a negative impact on the hospital's reimbursement structure. As financial pressures continue to increase across rural healthcare, we felt it was important to focus our resources and attention on the hospital's core mission of providing essential healthcare services.
Our board ultimately had to ask a difficult question: Are we best serving our community by continuing to own senior housing, or by focusing our resources on strengthening the hospital's core mission? It took years of education and analysis for our board to fully understand the financial impact of ownership and reach that conclusion. Throughout that period, Decker remained in regular communication with us, providing information, answering questions, and serving as a resource as our board worked through the decision.
As the transaction progressed, financing structures changed, lender requirements evolved, and challenges surfaced that could have easily derailed the process. What impressed us was Decker's ability to stay engaged, keep all parties moving forward, and continue finding solutions when obstacles arose.
Looking back, we do not view this as simply the sale of a senior living community. We view it as an important step toward strengthening the long-term future of our hospital while ensuring that an important resource for local seniors remains available in our community. We would recommend Decker Healthcare Group without hesitation to any hospital or healthcare organization seeking an experienced broker to navigate a complex transaction.”
Robert DyerChief Executive Officer, Cozad Community Health System
