Southern Indiana Rehabilitation Hospital historically generated consistent revenue and cash flow prior to its census decline during the pandemic, at which point operational capacity was reduced to 40 beds. Blueprint highlighted the facility’s prior stabilized operating metrics and near-term upside potential through the activation of 20 offline licensed beds as the facility’s census levels steadily improved.

Through its strategic marketing efforts utilizing both its senior care and behavioral healthcare advisory experts, Blueprint generated multiple competing offers from both skilled nursing and long-term care operators as well as post-acute and behavioral healthcare providers.

Florida-based SPHERE (Strategic Public Health Equities and Real Estate) and its national operating tenant were ultimately selected as the buyer and succeeding operator, respectively. This acquisition advances SPHERE’s strategic relationship expansion with its post-acute care partner which had an existing presence in this southern Indiana submarket.