A transaction involving the sale of two local nursing and rehabilitation centers is expected to close this weekend.
Ascension Living, a St. Louis-based senior living provider, has announced it is selling Presence Our Lady of Victory in Bourbonnais and Presence Merkle-Knipprath Countryside in Clifton to Skokie-based Villa Healthcare.
In an email interview with the Country Herald, Molly Gaus, vice president of marketing and communications with Ascension Living, confirmed the sale was imminent.
“Ascension Living signed a definitive agreement with Villa Healthcare … for the senior-living provider to acquire (both properties) and all of their related operations,” Gaus said.
Neither Ascension Living nor Villa Healthcare have disclosed the purchase price, though Gaus indicated the transaction has been in the works since July. Residents and families, she said, have been informed of the anticipated ownership change.
“This is a necessary step for Ascension and for these sites, as it is designed to support the long-term viability of our mission in the midst of continuing challenges across the industry,” Gaus said.
Since the announcement this summer, Gaus this week indicated plans for the Nov. 1 closing of the transaction was still on track, though she offered a caveat.
“The sale is subject to the receipt of regulatory and canonical approvals,” she said.
According to its “about us” page, Ascension Living — a subsidiary of hospital operator Ascension — is the fourth largest nonprofit senior living provider.
Prior to the forthcoming transaction, Ascension Living has served more than 10,000 adults in 54 senior living communities within 12 states and Washington, D.C. The organization employs more than 7,000 people.
As noted on its website, Villa Healthcare was founded in 2010 in Chicago and has since acquired a number of senior living facilities in Illinois and neighboring states.
