Post Acute Partners, a New York City-based healthcare services company operating in four states, planned to buy nearly all of the facilities owned by Buffalo-based ElderWood Senior Care. The deal was to include nine skilled-nursing facilities, six assisted-living residences, two independent living communities and an institutional pharmacy. Both the operating assets and the real property assets of the seller are part of the deal. Post Acute needed a law firm experienced in successfully completing complicated acquisitions in a timely manner, so it called on AGG.
AGG handled negotiation and drafting of all transaction documents, including both corporate and real estate acquisition documents. AGG also served as outside counsel for a series of loan transactions, the proceeds of which were used to fund a substantial portion of the purchase price. AGG also provided support with the client’s change of control applications and other regulatory matters.
Post Acute complimented the AGG team for its “diligence in getting this transaction to the finish line and keeping us organized and on task.” The acquisition positions Post Acute to become the largest and most fully integrated post-acute care provider in upstate New York at a time when such care has become extremely sophisticated and quality driven.