Ecumen leaders announced in a press release April 8 that Two Harbors' Ecumen Scenic Shores is being sold to Monarch Healthcare Management of Mankato. A purchase agreement has been signed and Monarch plans to assume ownership on or near June 1.
"This is a special community in a beautiful location that reflects the heart of our business - smaller markets that offer skilled care, assisted living, memory care and rehabilitation centers in Minnesota and western Wisconsin," Monarch CEO Josh Legum said. "We're committed to providing outstanding resident care and employee satisfaction."
Ecumen CEO Shelley Kendrick said that Monarch approached the organization late last year expressing an interest in purchasing Scenic Shores.
"We understand Monarch's desire to grow in northern Minnesota and believe that this is a
good fit for them," Kendrick said in the release. "The decision to sell reflects our own mission to continue to serve more people by strengthening our existing regional markets and diversifying our housing as well as our care services."
In recent years, Ecumen has moved into some larger markets, expanded some of its campuses and grown its market-rate housing, home care and hospice.
Ecumen, one of the nation's largest nonprofit providers of housing and services to older adults, is based in Shoreview, Minn. The organization has owned Ecumen Scenic Shores since 2011.