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Historic Nursing Home Keeps Doors Open With Cash From Suitor

Published
There’s a potential buyer for a nursing home in Providence that’s facing financial difficulties. Bannister House first opened its doors in the 1890s to...

There’s a potential buyer for a nursing home in Providence that’s facing financial difficulties. Bannister House first opened its doors in the 1890s to care for elderly African Americans. 

Now, Centers Health Care, a New York-based company, has agreed to provide a cash infusion for Bannister House. Centers is waiting for an answer on its bid to buy the bankrupt facility. Court-appointed receiver Rick Land says Bannister House was on track to run out of money in the next few weeks.

“That’s why it was critical for me to get a management company in place that was prepared to keep it open should cash flow run out," said Land.

Land says Centers Health Care has expressed a desire to turn Bannister House around.

“As expressed to me, they would maintain the facility as it is now and seek to bring in more patients," Land said. "Their goal is to turn around the facility from one that’s losing money to one that’s making money.”

Centers must win approval from state regulators to move forward with the sale.

Staff from Bannister House recently pleaded their case before lawmakers to keep the historic home open.

Historic Nursing Home Keeps Doors Open With Cash From Suitor
Historic Nursing Home Keeps Doors Open With Cash From Suitor