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Workforce Development Center buys Texas skilled nursing portfolio for $590M

The Jack and Nancy Dwyer Workforce Development Center Inc. (WFC) Monday announced the $590 million acquisition of a Texas-based skilled nursing facility portfolio managed by Regency Integrated Health Services (Regency or the Regency profiles).

The Regency Portfolio has approximately 4,400 employees and serves 4,600 residents. The Regency Portfolio will transition from a for-profit to a not-for-profit organization under the deal.

DWD’s mission is to provide comprehensive support to individuals who lack opportunity and aspire to pursue a career in the healthcare industry, alleviate a severe health care workforce shortage and improve the lives of seniors.

DWD acquired Regency from multiple owners. The transition to a not-for-profit was the vision of entrepreneur Jack Dwyer, founder, owner and president of Baltimore-based Capital Funding Group Inc.,  to end systemic poverty and address the growing workforce crisis plaguing the healthcare industry. This is one of the most significant transactions designed to address this crisis while providing a full ecosystem of wrap-around services that deliver the necessary support to remove major barriers that typically hinder the success of the underserved – changing the life trajectory for people in the program.

A unique 501(c)(3) nonprofit, DWD provides free Certified Nursing Assistant (CNA) training, health care job placement and a path toward life-changing careers to individuals who lack opportunity but who aspire to pursue a career in the health care industry. Working with other not-for-profits, partner workforce development organizations, and training partners, students – or “Dwyer Scholars” – complete their training, participate in clinicals, and then take the Board of Nursing exam. Once certified, DWD places Dwyer Scholars into full-time positions through its large network of long-term care industry partners to support the workforce and improve the lives of seniors.

The most differentiating element to DWD’s approach is the creation of its comprehensive ecosystem of support tools. On a need basis, Dwyer Scholars are provided with wrap-around services, which include financial support for housing, child care, transportation and more. This forms a cohesive ecosystem where all needs are met for Dwyer Scholars, allowing them to focus on their education and secure advanced training that will lead to better lives.

Dwyer Scholars are paired with case managers who work closely with them to identify career ladder goals to achieve over several years – keeping them on track for success. After reaching those goals, Dwyer Scholars are awarded a full scholarship to achieve their Registered Nurse license or to pursue additional advanced training for other healthcare careers.

The day-to-day operations of the Regency Portfolio facilities will not change, nor will the roles of the employees, nor the policies and procedures. Through its partnership with DWD and the new not-for-profit status, the two organizations will expand their commitment to patients, residents, employees and communities, while working collaboratively to train Dwyer Scholars, place them in facilities throughout the state – not exclusive to Regency facilities – offer case management and service support and more.