Hammond Hanlon Camp LLC Serves as Exclusive Financial Advisor to CHI Living Communities on the Sale of Continuing Care Retirement Communities

posted on October 11, 2017

 
SAN DIEGO — Hammond Hanlon Camp LLC ("H2C"), a healthcare-focused investment banking firm, served as the exclusive advisor to CHI Living Communities (“CHI LC”) on the sale of The Villas at Sunny Acres (“Villas”) and Medalion Retirement Community (“Medalion”) to The Ensign Group (“Ensign”), a publicly-traded, for-profit owner and operator of senior living facilities.

 

CHI LC, a subsidiary of Catholic Health Initiatives (“CHI”), assumed operation of the Villas and Medalion campuses from Centura Health in mid-2016.  H2C identified a broad range of prospective acquirers to enable CHI LC to select the one that would provide best-in-class operations, an in-depth understanding of the market, and the best cultural fit overall. 

 

Through a highly competitive, thorough and disciplined process, H2C attracted eight bids for the two communities from a diverse group of investors – both strategic and financial.  Ensign was identified as the best overall fit for the transaction, balancing strong transaction economics with a compatible culture and operating philosophy, demonstrated in part by Ensign’s willingness to retain a chaplain, mission integration coordinator or similar position at each campus.  

 

“CHI LC’s primary focus on quality of care made a clear understanding of the culture and capabilities of the prospective partners a critical part of our contribution to this transaction,” stated Jay Miele, Managing Director at H2C.  “Introducing CHI LC to a group like Ensign, where more than 60% of the facilities owned for at least 36 months are CMS 5-star rated, resonated with their vision for these campuses.”  Email Jay