Vetter Senior Living to Purchase Regency Retirement Residence in North Platte
Contact: Megan McGown
CONTACT: Megan McGown, marketing manager | mcgownm@gphealth.org ∙ Office: 308.568.7531
Vetter Senior Living, owners of Linden Estates and Linden Court in North Platte, Nebraska, is pleased to announce the intended purchase of Regency Retirement Residence in North Platte.
Regency Retirement Residence is currently owned by Great Plains Health. The sale is effective April 1. As part of the sale agreement, Great Plains Health has first rights to purchase the property if ever Vetter Senior Living should choose to sell the property.
“We look forward to Regency Retirement Residence becoming part of Vetter Senior Living and the Linden family properties in North Platte,” said ((possible Jack Vetter or Glenn Van Ekeren)). “This will be a perfect complement to the services we already provide in the area, and we appreciate the unanimous approval by the Great Plains Health Board allowing the sale”
“With the number of nursing homes and senior living facilities closing throughout the State, we wanted to ensure that North Platte is set up for the best possible success,” said Mel McNea, Great Plains Health chief executive officer. “Vetter Senior Living has a remarkable reputation and a proven track record. We believe that they are a good partner for North Platte.”
“Our sale negotiations, which have been occurring over the past year, have been very professional and centered on what is best long-term for the current residents of Regency Retirement Residence and the future or senior living in North Platte,” said Monica Lynch, Great Plains Health interim chief financial officer. “The residents have been brought into the conversation and were made aware of the purchase intentions early on in the process.”
In mid-2019, Vetter Senior Living executives toured the Regency alongside Great Plains Health executives and spoke to staff and residents. “We wanted to assure the residents of a smooth transition and introduce them to the new owners far in advance of the sale,” said Lynch.
Great Plains Health assumed operations of Regency Retirement Center in 2006 as a way to ensure the ongoing senior living apartment availability of the then financially struggling senior living center.
“Regency Retirement Center has since stabilized financially and with 23 apartments, is 96% occupied,” said Lynch.”
All occupants have been invited to continue living at Regency Retirement Center and staff have been invited to continue their employment with Vetter Senior Living.