One of the oldest nursing homes in Philadelphia, PA, is being sold, closing out a storied history that began at the end of the Civil War.
Simpson House opened in 1865 as the Methodist Episcopal Home for the Aged. More than 160 years later, it is being sold to Olde Main, LLC, an affiliate of Tryko Partners, a New Jersey-based private equity investment firm, for an undisclosed sum.
“Like many nonprofit senior living organizations across the country, we are facing the same challenges related to new federal and state regulations that are becoming too complex as it relates to Medicaid and staffing ratios,” Carol McKinley, president and CEO of Simpson Senior Services, told McKnight’s Long-Term Care News in a statement Friday…