News Talk 94.1/AM 1600 Where The Upper Cumberland Talks
Monterey officials have started working on a new deal for the city-owned nursing home.
Signature Health Care currently runs Standing Stone Health Care and Rehabilitation under a 15-year lease agreement that expires in April of next year.
Mayor Bill Wiggins said the Standing Stone Healthcare Board is in the process of interviewing several companies that have expressed interest in operating the nursing home.
“Monterey is going to keep that facility. It provides an income stream so surely they will be looking for the best financial arrangement in terms of the rent on a monthly basis,” Wiggins said. “They’re also emphasizing the quality of care.”
Signature has already expressed interest in renewing the lease, but at least four other companies have also expressed interest in operating the facility. They include diversified care, LifeCare, and maybe National Health Care. Wiggins said those companies will be interviewed over the next few months.
Currently Monterey receives about $17,000 a month in rent for the Standing Stone Heath Care and Rehabilitation facility.
