Once again, Certus has been awarded the “Turnaround of the Year” by the Minnesota Chapter of the Turnaround Management Association (TMA). Certus received the award for the successful stabilization and sale of a senior living community, formerly known as Grace Living Community of Glen Oaks. The community is located west of Minneapolis, in New London, Minnesota.
Certus was recognized by the TMA for its role in turning around the struggling senior care campus.
- Certus acted as successor court-appointed general receiver
- Implemented several improvements to the campus, including:
- operational improvements
- cost containment measures
- improved communication and transparency among staff members
- developed a marketing program to improve census
- value-engineered a capital improvement campaign to improve quality of care, curb appeal, and address deferred maintenance
- Led extensive marketing effort to sell campus
- Executed sale and transfer agreements with qualified buyer
- Oversaw post-closing AR collections, reconciliations, and resolution to escrow holdbacks