Firm bids $37M for Camden County health center

Source: Jim Walsh, Courier-Post, May 8, 2013

An Ocean County firm offered a high bid of $37.1 million for Camden County’s Health Services Center at an auction Wednesday, but a sales agreement is not yet final, a county spokesman said. Ocean Healthcare of Lakewood led seven bidders for the Gloucester Township complex, which holds a 300-bed long-term care unit and a 150-bed psychiatric unit…Under terms of the auction, bidders could offer to buy the entire complex or to seek only the long-term care unit and to lease back the mental-health facility to the county. Ocean Healthcare led bidders in both categories, offering $37.1 million under the lease-back option and $29 million for the entire facility, Keashen said. A spokesman for Ocean Healthcare, which operates 11 long-term care facilities, could not be reached. The firm last year completed a similar deal with Burlington County officials, buying the county-run Buttonwood Hospital in Pemberton Township for $15 million. The facility now is known as Aspen Hills Healthcare Center….