Senior living operator Retirement Unlimited, Inc. (RUI) is acquiring Brandywine Living, a move that brings its total to 59 communities under management.
Current RUI CEO William Fralin and President Doris-Ellie Sullivan are slated to keep their titles with the new company. With the move, RUI is deepening its presence in the Northeast and Mid-Atlantic regions with new communities in New Jersey, Connecticut, Delaware, Maryland, New York and Pennsylvania.
Terms of the transaction were not disclosed with the announcement.
Brandywine’s communities will continue to operate under its existing brand to “ensure continuity for both residents and staff,” according to Sullivan.
“We believe the alignment of our two companies’ cultures and missions, along with our shared partnership with Welltower (NYSE: WELL), will aid in the integration of these well-located and market-leading communities into the RUI family,” RUI president Doris-Ellie Sullivan said in the release.
Fralin added that the deal was a unique opportunity to merge two operations with shared values and tremendous talent.””
Brandywine CEO Brenda Bacon is temporarily staying on as the licensed operator of Brandywine’s two largest communities in New York while the state reviews the transaction. She is also continuing her work as a board member with FTI Consulting (NYSE: FCN), Hilton Grand Vacations (NYSE: HGV), Rowan University and senior living industry association Argentum.
“I am fond of saying that ‘I want to write my own story.’ That story for the past 28 years has been one of being blessed to wake up every morning and love what you do,” Bacon said. “I have worked and will continue to work with some of the most talented and dedicated people in senior living.”
RUI has been in the process of making various moves throughout 2023, including a variety of promotions.
Additionally, the company has been solidifying its partnership with Welltower over the past year since it assumed management of two of its communities, Elance at Old Town Alexandria and Elance at Boynton Beach. Welltower management teased a forthcoming “significant expansion” in its relationship with RUI earlier this year.
The company has “continued to strategically scale” through acquisitions and transitions throughout 2023, according to the release. Alongside its promotions, the company this year grew rapidly, needing to hire after adding six communities as of July and having three more in development at the time.
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