Seashore Gardens Living Center
GALLOWAY TOWNSHIP The board of Seashore Gardens Living Center announced today that an agreement has been reached to sell the home to Atlas Healthcare Group.
The board cited fiscal challenges, particularly the persistent and increasing gap between Medicaid reimbursement rates and the cost of caring for residents, as a reason for the sale.
The pandemic exacerbated fiscal challenges and imposed significant additional costs associated with protecting residents and staff. COVID-19 led to a sharp reduction in revenue due to a declining population of residents staying at skilled nursing facilities.
Persistent staffing shortages have also limited the number of residents Seashore Gardens Living Center has been able to accept, further reducing revenues. Similar reasons were cited as challenges for other senior care facilities across the country.
Simply put, a single home provider, such as ours, doesn't have the long-term resources to weather this perfect storm, President and CEO Martin H. Klein said in a release. We decided the best option for our residents and staff was to transfer ownership to an organization with the scale and resources to uphold the high standards for which we are known.
Atlas Healthcare is a patient centered organization that provides a continuum of health services in a safe and welcoming environment that respects Jewish values, traditions, and lifestyles and that emphasizes quality of life and human dignity.
As the owner/operator of Atlas Healthcare, we are committed to providing the same high quality of care for which Seashore Gardens has been known all these years, Atlas Healthcare CEO Phil Bak said.
The sale will not include Seashore Elder Housing or the Seashore Gardens Foundation. This will enable Seashore Gardens Foundation to continue to provide programming and services without the same restrictions and regulations.
We have a rich history in Jewish philanthropy and enriching elder lives, Seashore Gardens Foundation President Rich Cohen said. We will continue that legacy in this next chapter of our storied history. The foundation will be expanding to serve the elder community at large.
The foundation's core priorities will be in the areas of Alzheimer's and dementia services and outreach, intergenerational programs, education and resources for caregivers and elder care professionals.
Seashore Gardens Living Center will continue operations as a separate entity from the foundation.
We are looking forward to working with Atlas Healthcare Group and know this will provide a bright future for our residents and staff, Seashore Gardens Executive Director Alysia Price said.
The Simon & Sylvia Zisman Seashore Gardens Living Center is located at 22 W. Jimmie Leeds Road. The nonprofit home for the aged is guided by Jewish tradition, law and charity, dedicated to enriching the quality of life for its residents. The 125,000 square foot senior Living Center features a continuum of services which includes 151 skilled nursing beds and 40 assisted living, short- and long-term nursing care, Alzheimer's care, respite care and full rehabilitation services all under one roof.
For more information, visit www.seashoregardens.org.
