This nursing home on First Street in Fresno operated by Dycora has been placed in receivership. Image via Google Street View
Written by The Business Journal Staff
A court-appointed receiver has been named to oversee operations for a Fresno-based chain of nursing homes in three California cities — including a hometown facility.
The Thomas Seaman Co. of Irvine was appointed by the San Joaquin County Superior Court to act as receiver for the three sites run by Dycora Transitional Health & Living, which combined employ nearly 300 people.
Dycora currently has two facilities in Fresno — a Community Care facility at 3672 N. First St., which will be entering receivership with the centers in Stockton and Shafter — and a memory care center near Manchester Center.
The Plano, Texas-based Golden LivingCenters has been contracted by the Thomas Seaman Co. to provide operational support while the receivership is in process. Golden Living is also providing support for eight Dycora centers currently in receivership in Wisconsin.
“Our joint goal will be to provide the resources, support and expertise needed to support the facilities as they focus on delivering quality care and services to residents,” said Thomas A. Seaman, CFA and principal for the Thomas Seaman Co. “We will enhance their efforts to maintain normal business operation, retain staff and allow for the three facilities to operate with no interruption in support services, so that the important care they provide can continue.”
According Skilled Nursing News, the Wisconsin receiverships have been brought on in large part by low Medicaid reimbursal rates, triggering a wave of closures.