Business

Texas firm acquires Clearwater Retirement Community

A Plano, Texas, operator of senior care facilities has purchased Clearwater Retirement Community, CRC announced.

The sale of CRC facilities to Preferred Care includes a nursing facility and a campus comprising units for dementia and Alzheimer's care, 30 assisted living apartments and four independent living units.

"It has become increasingly difficult for a stand-alone facility to have the resources necessary to navigate the rapidly changing environment in senior health care, Medicare and senior services," John Toothaker, president of the Clearwater Retirement Community volunteer board, said in a news release. "This ownership change is going to allow Clearwater to build on the quality care improvements made over the past several years and will usher in a whole new level of senior care and rehabilitation services for all Clearwater area residents."

Preferred Care operates more than 70 senior care facilities across the country. It has retained CRC's existing staff, the news release said.

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