Brandywine Senior Care Acquired by Warburg Pincus
MT. LAUREL, N.J., July 10 /PRNewswire/ -- Brandywine Senior Care, Inc., an owner and operator of assisted living facilities in the Mid-Atlantic region, today announced that it has been acquired by Warburg Pincus, the global private equity firm and a leading investor in real estate and healthcare. The terms of the transaction, which closed June 30, were not disclosed. Warburg Pincus acquired Brandywine from ABS Capital Partners, Grotech Partners, HB Equity and other investors. In connection with the acquisition, the company will change its name to Brandywine Senior Living. Brenda Bacon, Chief Executive Officer of Brandywine said, "We are pleased to have found such an excellent partner as we look to develop Brandywine into a leader in the senior housing industry. Warburg Pincus brings tremendous experience in both the healthcare and real estate sectors as well as a proven ability to help companies grow. With our new partner, we look forward to a bright future for Brandywine." Brandywine is the owner and operator of nine assisted living and Alzheimer's facilities in New Jersey, Pennsylvania and Delaware with approximately 1,000 active beds. The company is a leading provider of high quality care for seniors and its facilities offer an exciting and active atmosphere for residents. Brandywine expects to continue to build, acquire and manage additional sites in clusters both in and outside of the Mid- Atlantic region. "Given the growing population of aging baby boomers, we are targeting the senior housing sector for investments. Brandywine is our first investment in this space and we expect to rapidly grow the company through acquisition and development," said Patrick Sullivan, a Warburg Pincus Managing Director. "We believe Brenda Bacon and her team are well-positioned to foster this expansion based on their established position and reputation for quality." Warburg Pincus is a leading investor in the real estate and healthcare industries. The firm has invested more than $1 billion in approximately 18 real estate companies, and $4.2 billion in more than 100 healthcare-related companies. About Brandywine Senior Care, Inc. Brandywine is the owner and operator of nine assisted living and Alzheimer's facilities in New Jersey, Pennsylvania, and Delaware with almost 1,000 active beds. The company provides high-quality residences for seniors with attractive locations, on-site nursing care, and an active, vibrant environment. The Company is led by Brenda Bacon, the Chief Executive Officer, and her team of experienced and caring employees. About Warburg Pincus Warburg Pincus has been a leading private equity investor since 1971. Throughout its 40-year history in private equity, Warburg Pincus has invested at all stages of a company's life cycle, from founding start-ups and providing growth capital to leading restructurings, recapitalizations and buy-outs. The firm currently has more than $10 billion under management and invests in a range of sectors including real estate, healthcare, information and communication technology, LBOs and special situations, media and business services, energy and financial services. Warburg Pincus' real estate practice has invested $1 billion of equity across a wide range of companies across the globe, including Guangzhou R&F Properties in China, Wall Homes in the United States and Resolution II in the United Kingdom. The firm has raised 11 private equity investment funds which have invested more than $20 billion in over 525 companies in 30 countries. Currently Warburg Pincus is investing from an $8 billion fund which closed in August 2005. An experienced partner to entrepreneurs seeking to create and build durable companies with sustainable value, Warburg Pincus has offices in North America, Europe and Asia and an active portfolio of more than 100 companies. For more information, please visit www.warburgpincus.com.
SOURCE Warburg Pincus
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