Cahill Group buys Rosewood nursing homes

The Cahill Group has acquired a St. Louis-based Rosewood nursing homes and skilled-care centers for $250 million.

The deal includes skilled nursing facilities, senior living, home health and related companies in St. Louis and Illinois. The new company will be named Cahill Rosewood.

“The Rosewood brand is very strong,” Cahill Group managing director Mark Yampol said. “These businesses will form the foundation for Cahill’s planned growth in the healthcare arena.”

Yampol told the St. Louis Post-Dispatch the long tenure of many of Rosewood’s 1,900 employees made it an attractive purchase.

Cahill, an operating company working in the financial industry, previously owned and operated nursing homes in Arizona about 10 years ago prior to the Rosewood deal, Cahill spokesman Ron Iori told The St. Louis Business Journal.

The company plans to invest $6 million to $8 million to upgrade the facilities with new medical equipment and beds, Iori said.