The portfolio facilities were located within 70 miles of Pittsburgh and consisted of 930 licensed skilled nursing beds 19 personal care beds, and 15 independent living units. In the wake of operational challenges stemming from but not limited to the pandemic, citing declining census, staffing shortages, and prior litigation, Comprehensive filed for Chapter 11 bankruptcy protection in May 2024.

Blueprint’s expansive marketing process began by targeting owners and operators with an existing presence in Pennsylvania and surrounding states resulting in multiple competitive offers received for the stalking horse position. The selected Stalking Horse offeror, Kadima Healthcare Group, was the high qualified bidder and the eventual court-approved acquirer.

Working together with the debtors, existing lender, respective counsels and stakeholders, Blueprint navigated the additional complexities associated with the bankruptcy sale process, state licensure hurdles, and unsecured creditor claims to obtain the bankruptcy court’s final approval to proceed and close the sale transaction. According to court documents, the transaction ended up being the best opportunity to realize the highest value, $53,000,000, for the purchased assets and avoid potential decline and devaluation of the facilities.