A national behavioral health provider acquired a Minnesota-based assisted living/memory care provider and its seven locations in the Minneapolis-St. Paul metro area. Yet again, we are seeing a combination of these healthcare service sectors, as several of the senior care REITs announced plans to grow their behavioral health holdings in their recent earnings announcements.
The target was Hometown Senior Living, a family-owned and operated provider that has grown over the past 10 years to be one of the largest memory care operators in the Minneapolis area. It was acquired by Beacon Specialized Living, one of the biggest behavioral health providers in the country with over 190 locations. With the acquisition, it has now added geriatric dementia care to its line of service offerings. Helios Healthcare Advisors served as exclusive sell-side advisor to Hometown throughout the transaction process.
