Life Care Services to acquire one, manage two Milwaukee area continuing care retirement communities

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Life Care Services acquires Newcastle Place, and enters into an affiliation with the Milwaukee Protestant Home with the management of Eastcastle Place, thus assuring the continuation of the 125 year tradition of senior living services at Eastcastle Place.

Newcastle Place, Mequon, WI

Life Care Services' strong history is a perfect complement to our existing heritage.

Life Care Services, An LCS Company, is pleased to announce its association with two Wisconsin senior living communities sponsored by the Milwaukee Protestant Home. Life Care Services will provide management services to both Newcastle Place in Mequon and Eastcastle Place in Milwaukee beginning around the first of October.

LCS and The Westminster Funds reached an agreement to acquire Newcastle Place, with the closing expected to take place on or around September 30, 2012.

Newcastle Place was developed by the Milwaukee Protestant Home, which owns Eastcastle Place, a landmark establishment in the Milwaukee area that has been serving the needs of seniors for 125 years.

“We are privileged to serve as owner and manager of this well-respected senior living community,” says Rick Exline, Executive Vice President, Director of Operations Management. “We are fully aligned with the Milwaukee Protestant Home’s commitment to health, wellness, dignity and respect for those who call Newcastle Place home.”

Newcastle Place offers seniors a variety of options including 130 independent living apartments, 29 carriage homes, 36 assisted living residences, 16 memory care rooms and 47 skilled nursing beds. The community also features an aquatic, spa, and wellness center with trainers; two restaurant-style dining venues; library; game room; interfaith chapel; and beauty salon/ barbershop.

The sale of Newcastle Place enables the Milwaukee Protestant Home to further its strategic plans for Eastcastle Place. A portion of the proceeds from the sale of Newcastle Place will be allocated to renovations at the Eastcastle community, a CCRC with 117 independent apartments, 39 assisted living residences, 18 memory care rooms and 40 skilled nursing beds.

“Life Care Services’ strong 41-year history of successfully managing and owning senior living communities is a perfect complement to our existing heritage,” said Carmen Witt, chairman of the Board of Directors of Milwaukee Protestant Home. “We chose to affiliate with LCS because it allows us to continue our mission and 125 year history of service to Milwaukee area seniors. We’re not just turning the keys over. It is a true collaboration of organizations with like cultures, philosophies of care and service to residents. The sale of Newcastle Place strengthens the cash position of both communities, and allows us to move into the future with confidence.”    

“Our focus will be to continue the rich heritage that Milwaukee Protestant Homes has established with its communities,” says Exline. “We will continue to look for opportunities that will make residents’ lives enjoyable, healthier, and even more satisfying.”

About LCS™
Based in Des Moines, Iowa, and established in 1971, LCS™ is a leading provider of high-quality senior lifestyle products and services. The LCS Family of Companies focuses on planning and development, operations management, marketing and sales management for continuing care retirement communities (CCRCs) and senior living communities, home health care and companion services, senior living community ownership, insurance, and national volume purchasing. The companies of LCS serve over 28,000 residents in 29 states and the District of Columbia. LCS is an equal opportunity employer hiring skilled and professional employees to better serve the customer. For more information, visit LCSnet.com.

About Life Care Services™
Life Care Services, An LCS Company, is the nation’s leading manager of full-service senior living communities. Life Care Services currently provides operations, marketing and sales management services for not-for-profit and for-profit continuing care retirement communities (CCRCs) serving nearly 28,000 residents in 29 states and the District of Columbia. For more information, visit lifecareservicesLCS.com.

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Greg Williams
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