Heritage shares plunge 10.14% intraday after announcing strategic closure of Heritage Village skilled nursing facility due to financial and operational challenges.

Heritage plunged 10.14% intraday after announcing the strategic closure of its Heritage Village skilled nursing facility in Gerry, citing ongoing financial and operational challenges. The decision, driven by reduced census levels post-pandemic and unsustainable costs, signals broader sector pressures in long-term care. CEO Lisa Haglund emphasized the move to consolidate resources at remaining facilities, reflecting deteriorating financial viability and operational constraints. The closure aligns with the stock’s sharp decline, as it underscores heightened risks in the healthcare sector and erodes investor.