Five Star acquires six assisted living centers for $58 million
Five Star Quality Care, a major senior living chain, completed its $58 million acquisition of six assisted-living centers from Gordon Health Ventures of Beaver, PA.
The Newton, MA-based provider, also bought a long-term care pharmacy in Omaha, NE, for $4.4 million. The purchase price for the assisted living centers was $5.5 million less than earlier, expected, a news report said. It was lowered following auditors' examination of the centers' financials during due diligence.
Five Star currently owns or leases 103 independent- and assisted-living centers, 52 nursing homes and three pharmacies.