Westchester nursing homes get $15.5M infusion of cash from California deal
Westchester Nursing Homes (WNH) announced Tuesday that it had reached a $15 million infusion of funds from the California government that will support expansion and expansion of its nursing homes and assisted living facilities, the largest infusion of money to date.
The company announced that the funding will go to expansion and new construction of four facilities that will open next year and to additional nursing homes that will be expanded.
Westchester also announced the creation of a new dedicated fund to invest in the development of new facilities.
The funds will be used to fund additional capacity in the facilities and to develop the necessary facilities for their occupancy.
The fund will be invested in an initial pool of investments that will grow and support additional expansion, said John Stansfield, WNH CEO.
Investments from the state of California will be utilized to fund the first two expansions of Westchester’s two new nursing homes.
The additional facilities will begin construction in late 2018 and 2020.
The second expansion is scheduled for 2019.
The Westchester expansion will be completed in 2021.
“These funds will support the expansion of Westford Nursing Homes and assisted home facilities,” said Stansline.
“The expansion will add capacity to both nursing homes in the state and the development and expansion efforts of other new facilities.”
The infusion of the funds will provide the company with an additional $8 million for the construction of two additional nursing home units.
A third expansion is also planned for 2019 and 2020 that will add additional capacity.
Stansfield said the new infusion of state funds will allow the company to expand its workforce.
The company has already created 200 positions, he said.
In addition to WNH, the California Health and Human Services Department has also tapped into the state’s nursing home fund to help fund expansions at two nursing homes, according to WNHH.
The state will receive $12 million to help cover the cost of construction and to pay for any additional construction.
The state has also funded $6.5 million to fund a new building and rehabilitation at the nursing home at Westchester.
The cost of the project has not been disclosed.WNHH is a member of the California Department of Nursing, which also operates three assisted living homes, the Westchester State Hospital and the West Hartford Medical Center.
The California Department on Aging has pledged to invest $5 million into the Westford and Westchester facilities in the future.