KENNETT SQUARE, PA.: Genesis Healthcare, the struggling owner of a national chain of assisted living facilities has announced plans to sell control of 51 of its 325 retirement and nursing home facilities around the country, including three as yet unnamed facilities it owns in New Hampshire. The company, which reported $1.5 billion in debts and owes another $2.2 billion for its buildings, operates a total of 20 facilities in New Hampshire, including Hackett Hill Center in Manchester, Pleasant View in Concord, Bedford Hills in Bedford, Cedar Healthcare in Portsmouth and Langdon Place in Nashua.
LEBANON: Dartmouth-Hitchcock Health ended the first half of its fiscal year in the black, thanks in part to aid from Washington during the Covid-19 pandemic and a strong return from Wall Street, the Valley News reported. The organization reported a positive operating margin of $38.6 million for the six months ending Dec. 31. D-HH credited the performance to gains on investments, as well as $49.1 million in federal CARES Act funds and continued growth in the Lebanonbased health system’s specialty pharmacy business.
MANCHESTER: American
Airlines has resumed nonstop flights to Ronald Reagan National Airport
in Washington, D.C., from the Manchester-Boston Regional Airport. Before
the pandemic, American operated four daily flights between the two
cities, but the flights were eventually dropped. The flights will first
return four times a week, but daily flights will resume on April 1.
CONCORD: The New Hampshire Community Loan has appointed Steve Saltzman as its next president and chief executive officer — the
second in the Loan Fund’s 38-year history. Saltzman will start in early
April. He is succeeding Juliana Eades, who retired in June. Saltzman’s
experience includes leading multiple programs at one of the largest
national community development financial institutions, Self-Help Credit
Union. He also was CEO at Charleston LDC in South Carolina.
LEBANON:
Timberwood Commons, a 252-unit market-rate multifamily complex in
Lebanon, has been sold for $69.25 million. The buyer, an affiliate of
Audubon Capital Partners of Boston, acquired the community from
Philadelphia-based Merion Realty Partners. Located less than a mile from
Dartmouth-Hitchcock Medical Center, the complex sits on 42.63 acres
with five three-story gardenstyle buildings and a five-story elevatored
midrise building.
DURHAM:
The University of New Hampshire will induct five alumni entrepreneurs
into its 2020 Alumni Entrepreneur Hall of Fame class in a double
ceremony in October, when inductees for both 2020 and 2021 will be
honored. They are: Tim Collins ’85, founder and president of EBSCO
Information Systems; Andrea “Andy” Coville ’82, CEO of Brodeur Partners;
Rick Marini ’94, an entrepreneur with more than 20 years of operating
and investing experience in the technology space; John Morison III ’76,
chair and CEO of Hitchiner Mfg. Co., Inc. Milford; and Matthew Robinson
’09, co-founder and vice president of engineering at MMS Analytics Inc.
CONCORD: Some 59 individuals and businesses in New Hampshire filed for bankruptcy protection in February — just three more than the modern record set in January, though still the lowest number recorded in any February since 1987.
The
February total is almost 90% lower than the 506 bankruptcies filed in
January 2010, in the midst of the last recession. And it’s a little more
than half the 115 filings of February 2020.
PORTSMOUTH:
Valerie Rochon has announced plans to retire after a five-year tenure
as president of the Chamber Collaborative of Greater Portsmouth. Rochon
took the reins at the chamber in May 2016 after serving for six years as
the organization’s tourism director. Her retirement will take effect
June 30.