Inspirit Senior Living Announces Acquisition Of Hilltop House
Local senior care community becomes first in major new network planned by industry veterans for mid-Atlantic/Southern region
WINCHESTER, Va., Nov. 30, 2016
WINCHESTER, Va., Nov. 30, 2016 /PRNewswire/ — Inspirit Senior Living today announced that it has acquired Hilltop House, an assisted living facility founded in 1985 by Joe and Juanita Smith and operated continuously since then by the Smith family. The five-acre, 96-bed facility marks the first acquisition for Fairfax, VA-based Inspirit, a new venture headed by chief executive officer David McHarg.
The Smith family searched for the right buyer for the business that marketing director Lisa Smith described as her family’s life’s work. “Three generations of Smiths have worked to create a happy, caring home for senior citizens from the Winchester area. We felt a sacred obligation to ensure that Hilltop’s next owner would share our family’s same values. We are grateful to entrust our family legacy—and more important, the wellbeing of our extended family of Hilltop residents and staff—to such a capable and committed new operator.” Purchase price and other details of the private transaction were not disclosed.
Inspirit has no immediate plans to expand the facility but will be doing renovations to the property and will also upgrade the back-office accounting and administrative systems. The company’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. “Inspirit could not be more proud that our first acquisition was Hilltop. There are economic and other advantages to being part of a strong network. But the essence of the senior living experience is the physical setting, the staff, and the spirit. The Smiths have built a true community over the years, and Inspirit is honored to take that work forward.”
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, Hilltop offers a graduated care model ranging from independent living, to assisted living, to memory care. The company is currently in negotiations to acquire three additional properties in the mid-Atlantic and Southern regions of the country.
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SOURCE Inspirit Senior Living