It was a pleasure to work with the Shea Family organization and help them execute their strategic goals. The Ensign team was great to work with and the Shea Family is pleased to have Ensign as the future steward of the business.
(PRWEB) January 16, 2015
Ziegler, a specialty investment bank, is pleased to announce the successful closing of the Shea Family’s sale of its integrated post-acute care platform in Southern California to The Ensign Group, Inc.
Ziegler’s investment banking team served as exclusive advisor to the Shea Family, the largest provider of a complete continuum of post-acute healthcare services in the San Diego market. Shea entered into an agreement to sell its nine skilled nursing and assisted living facilities (732 licensed beds), a home health agency and a private home care business to Ensign. Ensign will purchase and retain the real estate in two of the nine operations and will assume long-term leases on the remaining facilities, two of which will include an option to purchase the real estate.
The Shea Family traces its tradition of care back 85 years, across four generations. Families in the greater San Diego region have relied on Shea Family to be "Here for What Matters," since 1974. Today, that platform includes a full spectrum of services across the entire post-acute care continuum. As a result of this transaction, Shea will no longer have post-acute care operations in the San Diego marketplace.
Ziegler’s corporate finance team worked closely with the Shea Family ownership and senior management team to determine probable value, market the business to logical and qualified operators, coordinate management presentations and due diligence, provide transaction guidance, and assist in definitive agreement negotiations to accomplish a successful closing. Sheppard Mullin served as legal advisor for the transaction.
Kenneth Lund, Shea Family's Chief Executive Officer stated, “The valuation achieved for this high profile transaction exceeded expectations as the Ziegler team’s commitment, skill, wisdom, guidance, and dedication were instrumental in achieving a successful transaction.”
Bill Mulligan, Managing Director and Head of Corporate Finance Senior Living & Post-Acute Care, stated, “It was a pleasure to work with the Shea Family organization and help them execute their strategic goals. The Ensign team was great to work with and the Shea Family is pleased to have Ensign as the future steward of the business.”
Ziegler’s Corporate Finance team is focused on delivering best-in-class advisory and financing solutions for companies and organizations across the healthcare industry. In our core practice areas of healthcare services, information technology, hospitals and senior living, Ziegler is one of the most active M&A firms offering innovative sell-side, buy-side, recapitalization/restructuring, equity private placement and strategic partnering services.
For more information about Ziegler Corporate Finance practice please visit us at http://www.Ziegler.com/CorporateFinance.com.
The Ziegler Companies, Inc., together with its affiliates (Ziegler), is a privately held, specialty investment bank with unique expertise in complex credit structures and advisory services. Nationally, Ziegler is ranked as one of the leading investment banking firms in its specialty sectors of healthcare, senior living, religion, and education, as well as general municipal and structured finance. Headquartered in Chicago, IL with regional and branch offices throughout the U.S., Ziegler provides its clients with capital raising, corporate finance, FHA/HUD, strategic advisory services and research. Ziegler serves institutional and individual investors through its wealth management and capital markets distribution channels.
Certain comments in this news release represent forward-looking statements made pursuant to the provisions of the Private Securities Litigation Reform Act of 1995. This client’s experience may not be representative of the experience of other clients, nor is it indicative of future performance or success. The forward-looking statements are subject to a number of risks and uncertainties, in particular, the overall financial health of the securities industry, the strength of the healthcare sector of the U.S. economy and the municipal securities marketplace, the ability of the Company to underwrite and distribute securities, the market value of mutual fund portfolios and separate account portfolios advised by the Company, the volume of sales by its retail brokers, the outcome of pending litigation, and the ability to attract and retain qualified employees.
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