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Why the AlerisLife Saga is a Cautionary Tale for Senior Living

By The Citizen on February 8, 2023

This article is a part of your SHN+ membership

Last Friday, AlerisLife management announced that the company is being sold to another firm led by Managing Director and Board Chair Adam Portnoy.

The company’s board has agreed to sell the company to Portnoy’s firm, ABP Acquisition, for $1.31 per share in cash, or approximately $43.8 million. With the sale, AlerisLife will be taken private — a move that “will allow us to enhance our focus on operational excellence, and put us in the best position to successfully deliver on our business and mission,” according to CEO Jeff Leer.

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The post Why the AlerisLife Saga is a Cautionary Tale for Senior Living appeared first on Senior Housing News.

Source: For the full article please visit Senior Housing News

Published in ABP Acquisition LLC, AlerisLife, RMR Group, SHN+ and Uncategorized

The Citizen
The Citizen

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