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Possible upset bid for Pardee discussed


By John Harbin
Times-News Staff Writer

Published: Tuesday, April 29, 2008 at 4:30 a.m.
Last Modified: Monday, April 28, 2008 at 9:51 p.m.

Members of the board and the president of Lutheran Services for the Aging met with citizens Monday morning to answer questions and discuss their plan to enter an upset bid to buy the Pardee Care Center.

JOHN HARBIN/TIMES-NEWS
Ted Goins Jr., president of Lutheran Services for the Aging, discusses the upset bid for the Pardee Care Center Monday morning at a press conference.
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The Henderson County Board of Commissioners on April 16 approved the sale of the Pardee Care Center to Hendersonville Physicians and Associates. The group of doctors is offering $8.45 million for the center.

LSA's new offer includes $7.5 million in cash at the closing, $750,000 in capital improvements and equipment, $25,000 in cash to the facility from the Lutheran Church in North Carolina and $1.3 million in additional cash and value, raising LSA's total amount to $9.6 million, according to LSA president Ted Goins Jr. The new bid has not been officially presented to the commissioners because the upset bid process has not begun, Goins said.

Henderson County Commission Chairman Bill Moyer said Monday that he is aware that LSA is planning on submitting an upset bid, but did not want to comment until the upset bid process has begun.

"Once they have submitted, the county and the hospital will have to review their upset bid and will have to determine if it qualifies," Moyer said.

Henderson County Attorney Russ Burrell said that it will be up to Pardee to run a legal advertisement to begin the upset bid process.

"It is my understanding that the ad should be run sometime this week," Burrell said.

Calls made to Pardee board attorney Sharon Alexander were not returned Monday.

"Once the upset bid process has been implemented, then the Pardee management team and board of directors will consider any proposals received during the 10-day time period," Pardee CEO Kris Hoce said. "In order to be considered, the upset bid must offer 10 percent of the first $1,000 and five percent of the balance more in cash value as a purchase price to be paid at closing. The bid must also meet these three criteria: to protect the employment of the associates at Pardee Care Center, provide the highest quality of care to the residents and maintain existing relationships with Four Seasons Hospice and Pardee Pavilion."

Goins said that over the next 30 years, LSA has calculated the value to Henderson County to be $52 million.

Goins also mentioned the possibility of purchasing the adjacent adult daycare center if LSA's upset bid is accepted.

Pardee's board of directors voted last year to sell the long-term nursing and rehabilitation facility as part of a plan to focus on the hospital's core services.


Comments

  1. HBNC108 says...
    April 29, 2008 7:59:26 am

    RE: http://www.blueridgenow.com/apps/pbcs.dll/article?AID=/...16/-1/RSS&source=RSS

    John, thanks for asking Moyer for his/BoC's assessment. Sounds like he is willing to comment once the upset bid process is underway. I will look forward to a follow up article.

  2. Cbax819 says...
    April 29, 2008 8:20:45 am

    I'm not sure what I think about this upset bid. I had to place my mother there (Pardee Care Center) for long term care, as I just couldn't handle it at home anymore.

    I also worked there in the past for several years. It is a wonderful place, was ab solutely my first choice for my Mom to be placed.

    It was a great place when I worked there, as well, even tho it was several years ago. We had a great team of nurses and CNA's.

    It is consistantly clean, without odors known for such places, and the staff is top notch. I hope whoever buys it, will retain the wonderful staff, and not change the "mechanics" of the place.

    I still think I'm kinda leaning toward the Local physicians getting it though.

  3. Skip Fendley says...
    April 29, 2008 9:45:18 am

    IMHO, the key to PCC has been its administrator, David Smith. I'm in favor of purchase by whichever entity will assure his retention.

  4. Frank Aaron says...
    April 29, 2008 6:28:01 pm

    I was the CEO of the hospital when the decision was made to purchase the land and we built the Pardee Care Center facility during my tenure. I have been in hospital administration for 35+ years and have never had a negative financial year as a hospital CEO. I think i can speak from some level of authority on the subject. I am concerned that this facility is being sold and would challenge the leadership to find some way to make this work financially. It can be done and is being done in other settings in healthcare. To begin to sell off assets to make things work will only help in the short run. A progressive management of the problem has not been in place for the past 7+ years and something needs to be done other than sell assets. Try better management. Frank Aaron

  5. didleydadburn says...
    April 29, 2008 7:21:30 pm

    If it wasn't a money maker there wouldn't be so many bidders.

  6. Freddy says...
    April 29, 2008 7:31:58 pm

    Frank, Glad to see you on the forum and I hope all is going well. A large part of the problem, as I'm sure you know, is small town medical staff politics, i.e some of the good ole boys are continuing to act like a bunch of spoiled brats and refuse to look at long term solutions that take into consideration the changing environment with medical reimbursements. Too many are worried about what somebody else will get instead of what they, themselves, are doing, i.e. they think the pie is only so large and that if Dr. A gets a bigger piece, it will only be because Dr. B gets a smaller piece. Only when this attitude dies off or retires and people look at the problems from the point of view of making the entire pie bigger will we see a positive change. But I'm not holding my breath.