DWYER WORKFORCE DEVELOPMENT (DWD) CLOSES MONUMENTAL $590M LONG-TERM HEALTHCARE PORTFOLIO DEAL THAT DISRUPTS THE TRADITIONAL APPROACH TO SOLVING HEALTHCARE WORKFORCE STAFFING CRISIS

News provided by

Sep 21, 2022, 10:00 ET

Acquisition of Long-Term Healthcare Portfolio Managed by Regency Integrated Health Services and Transition to Not-For-Profit Creates Funding for Life-Changing Career Pathways for Those Lacking Opportunity Through Development of Innovative Support Ecosystem

BALTIMORE, Sept. 21, 2022 /PRNewswire/ -- The Jack and Nancy Dwyer Workforce Development Center, Inc. ("Dwyer Workforce Development" or "DWD") today announced the $590 million acquisition of a Texas-based 50-skilled-nursing-facility portfolio managed by Regency Integrated Health Services ("Regency" and the "Regency Portfolio"). 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 healthcare workforce shortage, and improve the lives of seniors.

Dwyer Workforce Development acquired Regency from multiple owners. The transition to a not-for-profit was the vision of entrepreneur Jack Dwyer 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, Dwyer Workforce Development provides free Certified Nursing Assistant (CNA) training, healthcare job placement and a path toward life-changing careers to individuals who lack opportunity but who aspire to pursue a career in the healthcare 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, Dwyer Workforce Development 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.

"This is a revolutionary approach that has been in the works for a while, and we are so excited to see it finally come to fruition. We believe great things happen when you give people the tools to change their lives," said Jack Dwyer, founder, owner, and president of Capital Funding Group, Inc. "Dwyer Workforce Development is unlike any nonprofit ever created. We're reinventing what it means to be a nonprofit because our solution isn't one step – it's comprehensive. Many people talk about making change, but the difference is we are actually doing it. We take action, not just donate money, and I am committed to continue investing my life to help others succeed."

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, childcare, 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.

"Most people can't say that they are truly doing what they feel they were born to do. I have always been passionate about helping people and serving the underserved; not only by giving them a voice, but also helping them reach their full potential," said Barb Clapp, CEO of Dwyer Workforce Development. "I am thrilled to lead this innovative not-for-profit and work with Jack Dwyer to transform lives. This partnership demonstrates the impact we can make on the lives of others and on the healthcare community by working together on a shared mission. This is just the beginning of many partnerships across the country that will make a monumental impact."

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.

Dwyer Workforce Development initially launched in Maryland and will have 250 Scholars participate in the program by the end of this year. Many Scholars are already fully trained and active in the healthcare industry, helping to address the healthcare workforce shortage. DWD is currently accepting applications for Dwyer Scholars across Texas and Maryland. Learn more about Dwyer Workforce Development at www.dwyerworkforcedev.org, and apply to be a Dwyer Scholar here.

About Dwyer Workforce Development ( www.dwyerworkforcedev.org )

The Jack and Nancy Dwyer Workforce Development Center, Inc. is a unique 501(c)(3) nonprofit with a mission to provide comprehensive support to individuals who lack opportunity and aspire to pursue a career in the healthcare industry, alleviate a severe healthcare workforce shortage, and improve the lives of seniors. Dwyer Workforce Development was established in 2021 by Jack Dwyer, his wife, Nancy, and their daughters, Emily and Kelsey. A businessman, philanthropist and entrepreneur, Dwyer owns Capital Funding Group, a full-service provider of comprehensive financing solutions for healthcare facilities nationwide. With his presence in the industry and commitment to changing the lives of others, Dwyer is re-defining what it means to give back by creating new career opportunities for those who lack opportunity, reducing healthcare staff shortages, and improving senior care, all in one.

CONTACT: Carson Denbow
PHONE: (570)-490-0135
E-MAIL: [email protected]

SOURCE Dwyer Workforce Development