Phil Cyr has signed an agreement with Maine-based chain First Atlantic Healthcare to sell his family’s nursing homes in Presque Isle and Caribou.
AROOSTOOK COUNTY, Maine — Nearly 50 years after joining the nursing home business, and four months after telling The Monitor about why he wants to leave it, Phil Cyr is preparing to get out.
Cyr has signed an agreement with Maine-based nursing home chain First Atlantic Healthcare to sell both his family’s nursing homes in Presque Isle and Caribou, although he said it could take four to six months for the state to approve the final sale.
Cyr said his overwhelming feeling about the deal is “relief.”
“It’s a very challenging business and there’s a fair amount of stress involved,” he said.
The Cyr family closed Presque Isle Rehab and Nursing Center over the summer because it was “hemorrhaging” money due to staffing problems, Phil Cyr told The Maine Monitor in August…
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