Cincinnati firm buys upstate health care provider
Cincinnati-based Home Care by Black Stone has acquired Nursing Resources Corp. of Lucas County, which provides skilled nursing and therapy as well as home-care aides to low-income residents of Northwest Ohio.
Rebranded as Nursing Resources by Black Stone, the company based in the Toledo suburb of Maumee has annual revenue of about $8 million.
The acquisition enhances Black Stone’s ability to accommodate Ohio’s move to managed care for low-income seniors enrolled in both Medicaid and Medicare, who make up less than 15 percent of the state’s Medicaid enrollment but account for about 40 percent of the total spending, according to Black Stone officials.
Nursing Resources cares for about 450 people. It provides home-care aides for older Ohioans eligible for the state’s Passport program, which helps those who are Medicaid-eligible get long-term services and support needed to continue living in their homes rather than a nursing facility. The company provides skilled nursing/therapy for those covered by Medicare.
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