Brandywine Senior Care Acquired by Warburg Pincus

Jul 10, 2006, 01:00 ET from 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
     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

SOURCE Warburg Pincus