Milwaukee-based Fortis Management Group, which operates 65 long term care centers in six states, has filed for receivership.
Milwaukee attorney Michael Polsky has been appointed the receiver for Fortis Management Group, as management of the facilities is transferred to new operators.
“We have determined that the most effective way to stabilize the company is to seek appointment of a receiver who will assume all responsibility for operating the company and put it in a stronger position for transition to new operators,” said an unnamed Fortis spokesman in a news release. “This action will allow our business to continue operating during the receivership without any interruptions to the important care services provided to our residents and their families. Additionally, the receivership protects our ability to pay our dedicated employees and meet our going forward vendor obligations.”
Fortis Management Group has facilities in Wisconsin, Michigan, Minnesota, Oregon, Idaho and Washington.
“The health, safety, and comfort of the residents will be the primary concern going forward,” Polsky said in a statement. “Our main focus at this time is to stabilize the company and ensure that residents continue to receive seamless quality care in the centers from the staff they have come to know. This plan also helps ensure that all payroll and benefits are provided to employees and that vendors are paid for ongoing services on a timely basis.”
In its filing, the company requested that Polsky retain Focus Management Group USA, Inc. to serve as a financial advisor and operations consultant during the receivership process.
“Our goal will be to provide the support and expertise needed to allow all of the facilities to continue delivering quality care and services to residents,” Polsky said. “With a cooperative lender, engaged landlords, a supportive ownership group and a dedicated team of employees, I am confident that all of the Fortis health centers will continue to operate with a ‘business as usual’ approach and keep providing the important care to their residents.”
Polsky couldn’t be reached for more information this morning.