Selectis Health (OTC: GBCS) completed the sale of two Georgia skilled nursing properties—Providence of Sparta Health & Rehab and Warrenton Health & Rehabilitation—for an aggregate purchase price of $13,175,000, effective January 15, 2026. After payment of senior mortgages, transaction costs and a $1.3 million holdback, the company derived approximately $5.4 million in net proceeds.
From those proceeds Selectis paid $475,000 to settle title issues, $1.8 million to redeem senior secured notes, $700,000 to reduce capital lines of credit used for accrued bed taxes, and $700,000 to retire a mortgage on another facility; the remaining balance will be used for general working capital. Selectis will continue to own and operate several remaining facilities, including two in Georgia.
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- Aggregate sale price of $13,175,000
- Net proceeds of approximately $5.4 million from the transaction
- Redeemed $1.8 million of outstanding senior secured notes
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- $1.3 million holdback retained under the purchase and sale agreement
- Paid $475,000 to settle title issues from proceeds
- Use of proceeds included $700,000 to reduce credit lines and $700,000 to retire a mortgage
– Sparta and Warrenton Nursing Facilities and Related Property Sold for
DENVER, Jan. 23, 2026 (GLOBE NEWSWIRE) — Selectis Health, Inc. (OTC: GBCS) (“Selectis” or the “Company”) announced its wholly-owned subsidiaries, Providence HR, LLC and Atl/Warr, LLC (each a “Seller”), have completed the sale of two properties located in Georgia, including the skilled nursing facilities known as Providence of Sparta Health & Rehab (collectively, “the Sparta Facility”), located in Sparta, Georgia, as well as Warrenton Health & Rehabilitation (collectively, “the Warrenton Facility”), located in Warrenton, Georgia. This sale was officially completed on January 15, 2026 and is the consummation of a definitive Purchase and Sale Agreement (the “PSA”) originally announced on December 9, 2025.
Pursuant to the PSA, The Woods at Sparta of Journey Propco LLC (the “Sparta Facility Purchaser”) and Warrenton Woods of Journey Propco LLC (the “Warrenton Facility Purchaser”) has purchased the two facilities for an aggregate purchase price of
$475,000 t o settle title issues$1.8 million to redeem outstanding senior secured notes$700,000 t o reduce capital lines of credit used to pay accrued outstanding bed taxes on Sparta and Warrenton$700,000 t o retire a mortgage on another facility that matured on December 30, 2025
The remaining balance of the proceeds will be used for general working capital.
Adam Desmond, CEO of Selectis Health, stated “The completed sale of our Sparta and Warrenton facilities affirms our commitment to rightsizing our business and has allowed us to prioritize stability across our remaining facility portfolio. Our balance sheet continues to strengthen which we expect to improve our operating results moving forward. We are actively engaged in discussions around additional strategic property sales and we will continue to evaluate future opportunities to unlock shareholder value.”
Following this sale, the Company and its wholly owned affiliates will continue to own and operate existing facilities in the state of Georgia. This includes the Eastman Healthcare & Rehabilitation and Glen Eagle Nursing & Rehabilitation facilities. The Company’s total remaining footprint is summarized below:
Remaining Facilities Post-Transaction
| Facility | Beds | Facility Type | State |
| Barnes Healthcare Skilled & Rehabilitation Center1 | 141 | Skilled Nursing | AR |
| Eastman Healthcare & Rehabilitation | 100 | Skilled Nursing | GA |
| Glen Eagle Healthcare & Rehabilitation | 100 | Skilled Nursing | GA |
| Meadowview Healthcare & Rehabilitation | 99 | Skilled Nursing | OH |
| Higher Call Nursing Center | 86 | Skilled Nursing | OK |
| Maple Healthcare & Rehabilitation | 29 | Skilled Nursing | OK |
| Park Place Healthcare & Rehabilitation | 106 | Skilled Nursing | OK |
| Southern Hills Assisted Living Facility2 | 24 | Assisted Living | OK |
| Southern Hills Rehabilitation Center2 | 106 | Skilled Nursing | OK |
| Southern Hills Retirement Community2 | 90 | Independent Living | OK |
For more information on the transaction, please see the Company’s associated Form 8-K disclosure, filed on January 23, 2026.
About Selectis Health
Selectis Health owns and/or operates healthcare facilities in Arkansas, Georgia, Ohio, and Oklahoma, providing a wide array of living services, speech, occupational, physical therapies, social services, and other rehabilitation and healthcare services. Selectis focuses on building strategic relationships with local communities in which its partnership can improve the quality of care for facility residents. With its focused growth strategy, Selectis intends to deepen its American Southcentral and Southeastern market presence to better serve the aging population along a full continuum of care.
For more information, please visit www.selectis.com.
Forward Looking Statements
This press release contains statements that plan for or anticipate the future. In this press release, forward-looking statements are generally identified by the words “anticipate,” “plan,” “believe,” “expect,” “estimate,” and the like. These forward-looking statements include, but are not limited to, statements regarding the following:
| * | strategic business relationships; | |
| * | statements about our future business plans and strategies; | |
| * | anticipated operating results and sources of future revenue; | |
| * | our organization’s growth; | |
| * | adequacy of our financial resources; | |
| * | development of markets; | |
| * | competitive pressures; | |
| * | changing economic conditions; and, | |
| * | expectations regarding competition from other companies. | |
| * | the duration and scope of the COVID-19 pandemic | |
| * | the impact of the COVID-19 pandemic on occupancy rates and on the operations of the Company’s facilities. | |
| * | Actions governments take in response to the COVID-19 pandemic, including the introduction of public health measures and other regulations affecting our properties and our operations. | |
| * | The effects of health and safety measures adopted by us in response to the COVID-19 pandemic. | |
| * | Increased operational costs because of health and safety measures related to COVID-19. | |
| * | Disruptions to our property acquisition and disposition activities due to economic uncertainty caused by COVID-19. | |
| * | General economic uncertainty in key markets as a result of the COVID-19 pandemic and a worsening of global economic conditions or low levels of economic growth. | |
Although we believe that any forward-looking statements, we make in this press release are reasonable, because forward-looking statements involve future risks and uncertainties, there are factors that could cause actual results to differ materially from those expressed or implied. For example, a few of the uncertainties that could affect the accuracy of forward-looking statements, besides the specific factors identified above in the Risk Factors section of this press release, include:
| * | changes in general economic and business conditions affecting the healthcare industry; | |
| * | developments that make our facilities less competitive; | |
| * | changes in our business strategies; | |
| * | the level of demand for our facilities; and | |
| * | regulatory changes affecting the healthcare industry and third-party payor practices. | |
Investor Relations Contact
Scott Liolios or Patrick Hall
Gateway Group, Inc.
(949) 574-3860
[email protected]
1 Leased facilities operated by third parties.
2 All located on the same campus in Tulsa, OK.
FAQ
What did Selectis Health (GBCS) sell on January 15, 2026?
Selectis sold Providence of Sparta Health & Rehab and Warrenton Health & Rehabilitation for an aggregate $13,175,000.
How much cash did Selectis Health (GBCS) receive from the Sparta and Warrenton sale?
The company derived approximately $5.4 million in net proceeds after mortgages, transaction costs and a $1.3 million holdback.
How did Selectis Health (GBCS) use the proceeds from the sale of Sparta and Warrenton?
Proceeds were used to settle title issues ($475,000), redeem senior secured notes ($1.8 million), reduce capital lines ($700,000), retire a mortgage ($700,000), and the remainder for general working capital.
Will Selectis Health (GBCS) continue operating facilities in Georgia after the sale?
Yes. The company will continue to own and operate remaining Georgia facilities, including Eastman Healthcare & Rehabilitation and Glen Eagle Nursing & Rehabilitation.
When was the Sparta and Warrenton sale originally announced for Selectis Health (GBCS)?
The sale was originally announced via a purchase and sale agreement on December 9, 2025 and closed on January 15, 2026.
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