The acquisition was announced in a news release Thursday. The transaction value totals $2.8 billion, including $1.4 billion in Emeritus’ mortgage debt.
According to the release, the acquisition will create a nationwide senior living network with more than 1,100 facilities in 46 states. The merger of the two companies will likely take place in late 2014.
We’ll check on what the implications of the purchase for local Emeritus clients could be. The Tacoma News Tribune has more details on the acquisition.