Welcome to our dedicated page for Selectis Health news (Ticker: GBCS), a resource for investors and traders seeking the latest updates and insights on Selectis Health stock.
Selectis Health, Inc. (OTC: GBCS) generates news primarily around its healthcare facility portfolio, real estate transactions, operational initiatives, and corporate governance developments. The company owns and/or operates skilled nursing, assisted living, independent living, and rehabilitation-focused facilities in Arkansas, Georgia, Ohio, and Oklahoma, and its updates often describe how these facilities are managed and optimized.
News releases frequently cover purchase and sale agreements for skilled nursing facilities, particularly in Georgia. Examples include agreements to sell multiple Georgia facilities for an aggregate consideration of $31 million, the sale of the Archway Transitional Care Center in Macon, and a definitive purchase and sale agreement for the Providence of Sparta and Warrenton facilities. These announcements typically outline transaction terms, remaining facility footprints, and the company’s expectations for using proceeds to strengthen its balance sheet and refine its footprint, while noting that pending deals remain subject to customary closing conditions.
Operational news highlights facility-level performance and quality measures. Selectis Health has reported improvements in occupancy and CMS quality measurement ratings at facilities such as Southern Hills in Tulsa, Oklahoma and Park Place in Oklahoma City, Oklahoma, along with commentary on patient census, skilled patient mix, and infrastructure upgrades. Earlier updates have also discussed cost-management efforts, including use of group purchasing organizations and training programs.
Corporate governance and leadership changes are another recurring news theme. Press releases have announced appointments of executives and directors, including changes in the chief executive officer and chief financial officer roles, as well as new board members and committee assignments. Investors and observers who follow GBCS news can use this page to review these types of developments, along with historical financial and conference-related announcements disclosed by the company.
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.
Selectis Health (OTC:GBCS) entered a definitive Purchase and Sale Agreement to sell two Georgia skilled nursing properties — Providence of Sparta and Warrenton Health & Rehabilitation — for $13,175,000, subject to customary prorations, holdbacks and adjustments. The target closing date is February 1, 2026. Post-transaction Selectis will continue to operate remaining facilities including Eastman and Glen Eagle in Georgia.
2025 highlights cited include $1,484,703.19 of Georgia bed taxes paid down, occupancy gains at Southern Hills (from 55–61% to 68–71%), Park Place census growth (from 48 to 65 patients and skilled patients from 1 to 10), and an upgrade to the OTCQB in June 2025.
Selectis Health (OTC: GBCS) has permanently appointed Adam Desmond as Chief Executive Officer, effective October 17, 2024. The Board of Directors has approved a salary increase for Desmond from $150,000 to $250,000 per annum. In exchange, Desmond has agreed to forgo the Company's Board Compensation stipend of $7,500 quarterly.
Desmond, who has been serving as Interim CEO since October 22, 2022, has demonstrated strong leadership over the past two years by navigating the company through challenging market conditions and focusing on long-term strategic goals. These include improving operational efficiencies, divesting non-core assets, and strengthening the balance sheet.
CFO Jim Creamer expressed confidence in Desmond's ability to advance strategic initiatives, guide the company forward, and build long-term shareholder value.
Selectis Health (OTC: GBCS) has completed the sale of the Archway Transitional Care Center in Macon, Georgia, for $6.75 million. The transaction, closed on June 18, 2024, was executed by the company's subsidiary, Goodwill Hunting, , to Bibb County Holdings II, The sale includes the real estate, buildings, and certain personal property associated with the facility. CEO Adam Desmond stated that the sale aligns with the company's operational improvement initiatives and aims to enhance its balance sheet, retire existing debt, and optimize its remaining facility footprint. Selectis Health will continue to operate other facilities in Georgia and other states, maintaining a significant presence in the skilled nursing and healthcare sectors.
Selectis Health, Inc. (OTC: GBCS) has entered into a definitive Purchase and Sale Agreement to sell Archway Transitional Care Center in Georgia for $6.75 million. The transaction is expected to enhance the company's balance sheet and provide flexibility for further initiatives. The sale includes certain real property in Macon, Bibb County, Georgia, with the Purchaser having a 45-day Inspection Period. Upon completion of the sale, Selectis Health will continue to own and operate various healthcare facilities in Georgia and other states.
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Selectis Health, Inc. (OTC: GBCS) reported a 31% increase in Q3 2022 revenue, reaching $9.6 million, up from $7.3 million year-over-year. However, the company faced a net loss of $1.0 million, or $(0.33) per share, compared to a net loss of $0.06 million, or $(0.02) per share in the prior year. Selectis continues to enhance operational efficiencies and optimize costs through group purchasing agreements projected to save 4% annually. Recent strategic hires and training programs aim to improve patient census and profitability as they adapt to ongoing healthcare sector changes.
Selectis Health is set to present at the Rocky Mountain Microcap Conference X on November 10, 2022, at TopGolf, Centennial, Colorado. The presentation will occur at 1:52 p.m. Mountain Time. Selectis Health operates healthcare facilities across several states, including Arkansas, Georgia, Ohio, and Oklahoma, focusing on a wide variety of healthcare services. The company aims to enhance its presence in the Southcentral and Southeastern U.S. to better serve the aging population.
Selectis Health announced the appointment of Andrew Sink as an independent director, effective October 17, 2022, filling the vacancy left by Clifford Neuman's resignation as director and secretary. Sink, with over 30 years of real estate experience, is expected to provide valuable insights as the company pursues its business transformation and compliance for a major national exchange listing. His extensive background includes managing private equity funds totaling over $100 million and involvement in transactions exceeding $700 million. CEO Lance Baller emphasizes Sink's crucial role in advancing strategic progress.
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