ALLENTOWN, Pa., June 15, 2017 /PRNewswire/ -- Inspirit Senior Living today announced that it has acquired two seniors housing facilities previously owned and operated by LifeCare Holdings LLC and The Weston Group Inc. The Palmerton (formerly The Villages at Palmerton) and The Willow (Macungie) mark the third and fourth acquisition for Fairfax, VA-based Inspirit, a new venture headed by industry veteran David McHarg.
Joseph Cimerola, president and chief executive officer of LifeCare Holdings, says he and Weston searched carefully for the right buyer. "Our properties at Palmerton and Macungie are important parts of the fabric of those towns. Inspirit brings more than 25 years of business leadership to these communities along with the human element that defines excellent seniors housing. LifeCare is honored to be placing these communities in such capable and caring hands." Purchase price and other details of the private transaction were not disclosed.
Inspirit's business model focuses on identifying and acquiring well-respected, stand-alone facilities and incorporating them into a regional network that can capture economies of scale. In the past six months, Inspirit has acquired properties in Virginia and Tennessee which, like the 67-unit Willow and the 70-bed Palmerton, the company plans to renovate. Said Inspirit CEO David McHarg: "Inspirit is proud to add The Willow and The Palmerton to our growing family of properties, and we look forward to working with the local teams to make them even better places for Pennsylvania's seniors to call home."
Inspirit CEO David McHarg founded the company in 2015 after retiring as president and chief operating officer of Greenfield Senior Living, a leading network of assisted living communities. Under McHarg's leadership, Greenfield grew from two properties to more than 20 in six states.
Like other planned Inspirit acquisitions, both The Willow and The Palmerton offer a personal care model; The Palmerton also offers memory care. Inspirit is currently in negotiations to acquire additional properties in the mid-Atlantic region.
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SOURCE Inspirit Senior Living