Change of Ownership in
an Already Licensed Facility
§ 51.5. Change of Ownership; change in management.
(a) A health care facility shall notify the Department in writing at least 30 days prior to transfer involving 5% or more of the stock or equity of the health care facility.
(b) A health care facility shall notify the Department in writing at least 30 days prior to a change in ownership or a change in the form of ownership or name of the facility. A change in ownership shall mean any transfer of the controlling interest in a health care facility.
(c) A health care facility shall notify the Department in writing within 30 days after a change of management of a health care facility. A change in management occurs when the person responsible for the day to day operation of the health care facility changes.
The transaction must not close without Department approval or less the facility is at risk of being issued a Cease and Desist Order for operating without a license. When a change of ownership/change of control takes place, the existing license terminates and is replaced by the new license.
The following procedures must be completed when a change of ownership occurs in an already licensed facility: