Post Acute Partners Closes on Purchase of Elderwood Senior CareAugust 12, 2013
New York City-based partnership to carry on Chur family legacy
WILLIAMSVILLE, NY – Post Acute Partners, a New York City-based health-care services company operating in four states, today announced the formal acquisition of substantially all of Elderwood Senior Care.
The purchase of the Buffalo-based senior care company owned by the Chur family includes nine skilled-nursing facilities, six assisted-living residences, two independent living communities, and an institutional pharmacy.
Carol and Robert M. Chur started Elderwood in 1978 with one facility in Williamsville and developed it into today’s multi-level senior-care company. Elderwood Senior Care’s 19 facilities located in Western and Central New York employ more than 2,900 people and cared for 5,000 patients and residents annually. The company’s facilities won several national quality care awards in recent years.
As part of the transaction, Post Acute Partners is contributing $100,000 to a charity in honor of the Chur family and its contributions to the community.
Dr. Jeffrey Rubin and Warren Cole founded Post Acute Partners in 2010. Post Acute’s mission is to be a state-of-the-art, fully integrated provider with significant regional concentrations. Post Acute currently operates in New York, Rhode Island, Pennsylvania and Massachusetts.
“The post-acute level of care is changing. It has become extremely sophisticated and quality driven,” Cole said. “As we grow our company, we seek to acquire only best-in-class companies. Elderwood is one such company. This acquisition positions Post Acute Partners to become the largest and most fully integrated provider in upstate New York.”
“We are hands-on health-care providers,” Dr. Rubin added. “To deliver quality, we require a work force that is well trained and dedicated to superior customer service and clinical outcomes. Elderwood possesses these qualities.”
“The longevity of the workforce is the longest we have ever encountered. In health care, that matters. And it shows up in their excellent outcome data. We are proud to continue on with this legacy,” Dr. Rubin said.
Post Acute Partners, which plans to keep the Elderwood name, seeks to acquire geographically concentrated portfolios with great local reputations. They then work with the predecessors, staff, state regulators, referral sources, and local communities to nurture the local character of these portfolios, while introducing top-flight operational techniques and technology. Since 2010, Post Acute Partners acquired and developed five pediatric specialty hospitals in Pennsylvania; two other skilled-nursing facilities in Rhode Island; a home-care agency and an institutional pharmacy, both in Massachusetts.
For further information go to www.postacute.com.
The Chur family will retain two assisted living residences. Effective today, Elderwood Assisted Living at Penfield and Elderwood Assisted Living at Heathwood are renamed Heathwood Assisted Living.
Chur and his daughter, Carla Suero, will continue to operate these two residences. Other than new signs and a new logo, the facility ownership and management will remain the same.
For more information, go to www.heathwoodassistedliving.com.