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
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ABOUT THE ENSIGN GROUP
(NASD: ENSG) Ensign provides a broad spectrum of skilled nursing and assisted living services, physical, occupational and speech therapies, home health and hospice services and other rehabilitative and healthcare services at 226 healthcare facilities, 19 hospice agencies, 18 home health agencies and 3 home care businesses across 14 states.
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 and related companies 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.
"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."
- Jay J. Miele
Managing Director, H2C