Hammond Hanlon Camp LLC Serves as Exclusive Financial Advisor to Cadbury Senior Lifestyles on the Sale of Facility in New Jersey
posted on February 21, 2017
CHICAGO — Hammond Hanlon Camp LLC (“H2C”), a healthcare focused strategic advisory and investment banking firm, served as the exclusive financial advisor to Cadbury Senior Lifestyles (“Cadbury”) on the sale of Cadbury at Cherry Hill (“Cherry Hill”) to Premier Healthcare Management (“Premier”), a for-profit operator of senior living facilities. Cherry Hill is a continuing care retirement community (“CCRC”) consisting of 138 independent living units, 64 assisted living units and 108 skilled nursing beds located in the town of Cherry Hill, NJ with close proximity to the Philadelphia metropolitan area. Cherry Hill provides a full continuum of senior care services to residents in a single campus setting promoting independence and quality of life for its residents.
Cadbury Senior Lifestyles initially engaged H2C in June 2014 to lead the Board and management through a strategic options analysis to identify the best course of action for the organization. H2C analyzed Cherry Hill’s operations, financials, and market characteristics and presented the Board with a range of strategic options and an indication of the CCRC’s fair market value to support the evaluation of options. After careful consideration, the Board determined that the best strategic course for the organization was to seek a new owner and operator for the assets of Cadbury at Cherry Hill.
Through a carefully managed sales process that highlighted Cherry Hill’s unique qualities, core competencies and the favorable investment opportunity, H2C attracted several competitive bids for the CRC. The proposals were narrowed down in the fourth quarter of 2015 with a final bidder selected and an asset purchase agreement signed in the first quarter of 2016.
“The H2C team provided exceptional guidance throughout the sale process working with Management and the Board, identifying the appropriate partner and assisting with the regulatory process in the state of New Jersey,” said Vic Amey, Chief Executive Officer for Cadbury Senior Lifestyles.
“The Cadbury at Cherry Hill transaction was the culmination of a very thoughtful process by the Board and Management,” said Michael Lane, Managing Director of H2C. “From the beginning they were actively engaged in the process to analyze all strategic options and select the course of action that would best provide quality senior services to the residents at Cadbury at Cherry Hill for years to come.” Email Mike
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"The H2C team provided exceptional guidance throughout the sale process working with Management and the Board, identifying the appropriate partner and assisting with the regulatory process in the state of New Jersey."
- Vic Amey,
ABOUT CADBURY SENIOR LIFESTYLES
Cadbury Senior Lifestyles is a Quaker based not-for-profit based organization with over 35 years of experience operating senior living communities for older adults. The organization provides a full continuum of services including independent, assisted living, skilled nursing, memory care and therapy along with healthcare services provided to individuals in their own home.
ABOUT PREMIER HEALTHCARE
Premier Healthcare Management is a privately held multi-site provider of acute and long-term healthcare and senior living services. Premier owns and operates numerous facilities primarily in the Northeast corridor of the U.S. In addition to providing skilled and long-term nursing facilities, Premier’s services extend to Alzheimer’s and dementia care, independent and assisted living facilities and adult day care. Cadbury at Cherry Hill is the second CCRC acquisition by Premier.
ABOUT HAMMOND HANLON CAMP LLC
Hammond Hanlon Camp LLC (“H2C”) is an independent strategic advisory and investment banking firm committed to providing superior advice as a trusted advisor to healthcare organizations throughout the United States. H2C’s professionals have a long track record of success in healthcare mergers and acquisitions, capital markets, real estate and restructuring transactions, acting as lead advisors on hundreds of transactions representing billions of dollars in value. Hammond Hanlon Camp LLC offers securities through its wholly-owned subsidiary H2C Securities Inc., member FINRA/SIPC. For more information, visit h2c.com.