The Nova Scotia government has formalized an agreement to sell a former hotel construction site that's been converted into a health-care facility to a prominent long-term care operator for $114 million. It will pay Shannex more than 10 times that amount over 25 years to run the site.

Officials with the Health Department last week signed the agreement with Shannex to sell the property at Hogan Court in West Bedford. The site will care for patients who no longer need acute care hospital beds but a…