Eastern Shore –VA: Smith/Packett Med-Com, LLC (“Smith/Packett”), a premier provider of integrated market place solutions serving the senior housing development and care services industry, has signed a letter of intent with Riverside about purchasing the Riverside Shore Rehabilitation Center. Riverside believes this opportunity is important to pursue. Riverside is talking with the Commonwealth of Virginia regarding the closure plan.
This letter of intent is not binding; it simply opens a discussion between our organizations. Additional information will be shared as both parties complete the due diligence of this agreement.
Ed Heckler, Vice President, Riverside Health System Lifelong Health Division, stated, “We are excited about this potential development and what it could mean for the community. I am cautiously optimistic that the parties will be able to reach a definitive agreement after completing the due diligence phase.”
About Smith/Packett: Smith/Packett was founded in 1982 by James R. “Jim” Smith as a development and Certificate of Need consulting firm. By 1986, Mr. Smith had formed various partnerships and developed nursing homes throughout Virginia, Florida and the Carolinas. These partnerships included senior housing and care services communities, active adult housing, independent living, assisted living, nursing homes, medical/office buildings, and mixed use facilities.
Smith/Packett has been consistently successful because it provides high quality, affordable long term care solutions to senior living and care communities, providers, and operators. This success is attributable to Smith/Packett’s commitment to work closely with local community leaders, hospitals, civic groups, and families to provide quality care compatible with all sources of income and reimbursement systems.