On August 20, 2015, it was announced that an arrangement had been reached to sell Our Lady’s Residence in Pleasantville, Bishop McCarthy Residence in Vineland, and St. Mary’s Catholic Home and The Manor at St. Mary’s in Cherry Hill to the Catholic Health Group division of Center Management Group (CMG).
The decision to sell these properties came after long, careful and detailed consultations and discussions with a focus on the continued provision of quality care, consideration for the employees, the continued Catholic identity of the facilities, and CMG’s reputation for providing superior care to the residents of its facilities.
We expect the sale to be finalized and a seamless transition of ownership to occur on or about December 14th. The first step in the transition began on December 1st, as the facilities entered a closing arrangement with CMG.
CMG has begun to place its administrators in the facilities to start operation-consulting services, and to implement new vendor relationships with food and housekeeping, pharmacy, rehabilitation and other services. Additionally, CMG will assume responsibility for all billing and accounts receivable functions.
Current administrators will remain present in these facilities until the transition phase is complete. They will work in consultation with the CMG administrators. Current staff will remain employees of the facilities until the transfer of ownership, at which time CMG will assume the full control of these facilities and management of employees.
We are certain that CMG will continue, and improve on, the services that have been provided by these facilities for the past several decades.