Article by David Monkawa, SOS Network Co-chair published in AsAmNews!
Pacifica claims it is evicting the seniors and closing the Sakura ICF in Los Angeles because they’re “losing money”. This is dishonest and hides the full picture.
When Keiro sold the four facilities to Pacifica in 2015 they were required to submit a “Written Notice to the CA Attorney General for the Proposed Sale of Keiro Nursing Homes, Volume 1 and 2.” These docs contained financial disclosures which showed the ICF had been “losing money” for 4 out of 5 years from 2010 (-$5,000) to 2014 (-$23,000). Pacifica had to “swallow” the “distressed” ICF and South Bay Keiro as part of a “package deal”. Pacifica execs signed off and knew before purchase that the ICF “does not generate net operating income”. These are public docs available to anyone.
Read the article here and support AsAmNews: https://asamnews.com/2021/05/29/pacifica-plans-big-day-by-closing-sakura-icf/