The closing date has been delayed in the sale of The Villages Health to Humana’s CenterWell.
The closing date on the $68 million sale was supposed to take place on Friday. Now it is being pushed back by a week, to Friday, Nov. 7. All parties seem to be in agreement with the delay, which appears to be due to last-minute logistics.
In July, The Villages Health announced that it was filing for bankruptcy and blamed the bankruptcy on a mysterious $360 million “Medicare coding error.” The Morse family, which had ballyhooed the return to a “Marcus Welby M.D.” level of patient care more than a decade earlier, was suddenly eager to shed their once-extremely-profitable venture into medicine.
The Villages Health disbursed approximately $183 million to the Morse family between 2022 and 2024.
In addition, the Morse family was making upward of $10 million per year by leasing the specialty care centers located throughout Florida’s Friendliest Hometown, to The Villages Health. As part of the sale to Humana’s CenterWell, The Villages will retain the ownership of the special care centers and presumably will continue to lease them to Humana.
An ombudsman monitoring the care of the 55,000 patients at The Villages Health recently reported that the level of care has not suffered since the bankruptcy.