Signature HealthCARE, LLC, the seventh largest skilled nursing provider in the nation, has acquired the skilled nursing division of Elmcroft Senior Living.
“The divesture of our skilled nursing division to Signature allows us to focus on our core strength,” says Elmcroft Chief Executive Officer Pat Mulloy in a press release. “We are excited about the future and are looking for opportunities to grow in the senior housing business. Our goal has always been to build a great service company, which is grounded in being a great place to work and a brand associated with care. This transaction is a step forward in implementing that strategy.”
The acquisition adds 18 skilled nursing and rehabilitation centers with about 1,700 beds to Signauture’s holdings. The acquired facilities are nearly equally split between urban and rural markets and all but one are in Kentucky, where both companies are headquartered.
Signature “aggressively pursued” the acquisition in an attempt to build the first statewide post-acute network, according to the press release. The deal allows Signature to bypass the certificate of need, or CON, process that verifies a market is in need of the services a company wants to provide.
Signature now operates 133 post-acute care centers and employs 23,000 people across the country. Elmcroft operates 82 independent, assisted and dementia care communities with approximately 7,000 beds in 18 states.