After what appears to have been a long process, the West Virginia Department of Health Facilities seems to have found success in selling some of its long-term care facilities for seniors.
New York-based Marx Development Group plans to buy Hopemont Hospital in Preston County, Jackie Withrow Hospital in Raleigh County, John Manchin Sr. Health Care Center in Marion County, and Lakin Hospital in Mason County.
Though the planned purchase price of $60 million may sound a bit low for four long-term care facilities, the cost savings to the state is expected to more than make up for it.
The Governor’s Office reports the facilities had been operating at a combined annual loss of approximately $6 million, with projected long-term costs expected to reach $40 million per year. Costs were not the onl