Senior Health & Housing Services Division of Catholic Health Partners Divested Four Facilities through an Asset Sale to Aviv REIT, Inc.

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Transaction Announcement
Ponder & Co. is pleased to announce that the Senior Health & Housing Services Division of Catholic Health Partners (“CHP”) divested four facilities through an asset sale to Aviv REIT, Inc. (“Aviv”), based in Chicago, Illinois and an operations transfer agreement to Diversicare Healthcare Services, Inc. (“Diversicare”), based in Brentwood, Tennessee. The four facilities divested were: Mercy Siena Woods in Dayton, Ohio; Mercy Health – Schroder in Hamilton, Ohio; Mercy Health – St. Theresa in Cincinnati, Ohio; and Mercy Health – Providence in New Albany, Indiana. Net operating revenues generated by the four facilities totaled to $59.6 million.

Catholic Health Partners
CHP is the largest health system in Ohio and one of the largest health systems in the United States, employing more than 33,000 associates in Ohio and Kentucky. With $5.6 billion in assets, CHP operates more than 250 health facilities, including 24 hospitals, 11 senior living communities, five hospice programs, eight home health agencies, and a health insurance plan.

Aviv REIT, Inc.
Aviv specializes in the ownership and triple-net leasing of post-acute and long-term care skilled nursing facilities. Aviv’s portfolio consists of 269 properties in 29 states leased to 36 tenants.

Diversicare Healthcare Services, Inc.
Diversicare provides long-term care services to patients in 47 skilled nursing facilities containing 5,533 licensed beds, primarily in the Southeast and Southwest.

Ponder’s Role
Ponder’s M&A Group advised CHP on the divestiture, managed the controlled auction process and negotiated the terms and conditions of the transaction.

Ponder & Co.
Ponder & Co. provides M&A and capital advisory services to more than 150 non-profit hospital and healthcare system clients. Ponder has completed more than 100 M&A engagements involving acute and specialty hospitals, long-term care facilities, ambulatory surgery centers and behavioral health facilities. Transactions have ranged from $4 million to $1.5 billion in value.

Ponder’s M&A services include:

  • Strategic option assessments
  • Partnerships and joint ventures
  • Mergers, acquisitions and divestitures
  • Business valuations and fairness opinions
  • Board and special committee assignments
  • Real estate transaction services

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