Catholic Church In Camden Sells Three Nursing Homes To Private Company
By David Madden
CAMDEN, N.J. (CBS) -- The Catholic Diocese of Camden is getting out of the nursing home business.
Facilities in Cherry Hill, Vineland and Pleasantville, New Jersey are being sold to the Center Management Group, based in New York, for $40-million.
For the church, this decision was all about the money. Shrinking government reimbursements, paired with the rising cost of health care, just got to be too much. But Gerald Jablonowski, who runs Home and Parish-based services for the Diocese, says net proceeds will go into a trust fund.
"All of the proceeds will continue to go into health care services that will be targeted to the frail elderly," Jablonowski says, "as well as to the disabled."
He expects all employees to be retained when the sale closes, pending regulatory approval by year's end.
The current residents will remain and be cared for under a 50-year agreement that retains church values and traditions.
