U.S. NEWS ASSIGNS TOP MARKS FOR THREE PROPERTIES IN MASS. AND PA.
BRICK, N.J., May 17, 2013 – Three Marquis Health Services nursing home properties have received five-star ratings in U.S. News and World Report’s recently published “Best Nursing Homes” feature. Awarded to less than 20 percent of the nation’s nearly 16,000 nursing homes, the five-star distinction recognizes excellence in three categories: state-conducted health inspections, nursing and physical therapy staffing, and quality medical care.
Norman Rokeach, Director of Nursing Home Operations for Marquis Health Services, Tryko’s in-house healthcare division, notes that the top marks are particularly gratifying at a time when the private equity real estate group is actively growing its skilled nursing portfolio. The recognized facilities include:
- Briarwood Healthcare & Rehabilitation Center, a 120-bed skilled nursing facility in Needham, Mass., where Marquis is in the midst of a $1 million capital improvement project.
- The 110-bed Coyne Healthcare Center in Rockland, Mass., which Marquis is currently expanding with the addition of a new sub-acute wing.
- Kearsley Rehabilitation & Nursing Center in Philadelphia, an 84-bed facility located on a 13-acre campus that also includes age-restricted rental housing. Marquis is currently adding a new sub-acute wing at Kearsley as well.
According to the U.S. News website, the data used in the analysis came from Nursing Home Compare, a website run by the federal Centers for Medicare & Medicaid Services. The agency assigned facilities a rating in each of the three aforementioned categories, and then combined these ratings to generate an overall score.
“We consider our five-star ratings to be great accomplishments,” Rokeach said. “And while we are proud of the recognition, at the end of the day we really are working for the well-being and satisfaction of our patients, their families and our staff members.”
As a third-generation nursing home operator, Marquis brings deep experience to its facilities. “Our approach to nursing home operation centers on two goals: providing excellent care and providing excellent customer service,” Rokeach said. “Our senior team members have decades of experience in this business. They bring a wealth of knowledge, ideas and best practices for adapting to the changing healthcare industry, and staying ahead of the game with innovative rehabilitation and clinical programs. We look at each property and its neighborhood to see how we can create a warm living and working environment, and provide services that bridge any healthcare gaps in the larger community.”
During the past 12 months, Tryko Partners has renewed its emphasis on healthcare investment opportunities. Recently, the firm purchased New Eastwood Care & Rehabilitation Center in Easton, Pa., and has launched a $1 million renovation there. Rokeach noted that he expects by next year this facility, too, will receive a five-star U.S. News rating. Tryko continues to seek nursing home acquisition opportunities in its geographic target area. In total, as owner, manager or partner, the company is involved in more than 1,500 skilled nursing beds.
The company also is well known for its involvement in the multifamily investment sector; it currently maintains a growing, 5,000-unit residential portfolio. The 23-year-old organization invests in multifamily properties, healthcare facilities, and tax liens throughout the Northeast – including Pennsylvania, New Jersey, New York, Maryland and Delaware – and the greater Chicago market in the Midwest.