The management team of Louisville, Kentucky-based operator Elmcroft Senior Living last week purchased the company to become the majority shareholder, according to Louisville Business First.
The deal, which closed Friday for an undisclosed amount, involved Elmcroft’s management team purchasing the company from its previous owner, whom CEO Pat Mulloy only noted as a “private family” in the article.
“Our goal is to continue to grow and realize our mission of building a great senior services company that provides excellent service to our residents and gives our associates a great place to work,” Mulloy is quoted as saying. “We intend to build on our reputation and find new and better ways to serve our residents and their family members.”
Elmcroft Senior Living operates 102 senior living communities across 19 states.
Elmcroft had not returned a request for comment as of press time.
Read more at Louisville Business First.
Written by Jason Oliva