Massachusetts-based Five Star Senior Living Inc. (Nasdaq: FVE) has notified the state that it intends to close the healthcare unit at the Meadowood Senior Living center in Bloomington. The company says nearly 90 employees will be affected, with layoffs set to begin May 1.
The company says nearly 90 employees will be affected, with layoffs set to begin May 1. Five Star says it will continue to operate Meadowood.
Five Star says it will be working with residents of the healthcare unit and their families to assist in the transition to other facilities.
The company says the layoffs will occur in stages, and they expect final separations will occur by early July.
Two weeks ago, the company announced its plans to exit the skilled nursing business to focus on independent living communities that cater to seniors who require less care.
The company says it closing the skilled nursing units at more than 100 senior living communities across the U.S.