Genacross Lutheran Services Has Signed a Letter of Intent to Join Benedictine
February 12, 2020
Genacross Lutheran Services (“Genacross”), an Ohio, faith-based healthcare provider of post-acute care, senior housing, and family and youth services has announced the signing of a letter of intent to join Benedictine (“Benedictine”). Benedictine shares Genacross’ Christian missions and core values. Benedictine will facilitate needed capital investments and operational support to help sustain and grow Genacross’ existing operations in and around Toledo, OH.
Cain Brothers served as Genacross’ exclusive financial advisor in connection with the partnership.
Genacross has been serving and inspiring people in need since 1860. Today, nearly 4,000 people of all ages throughout northwest Ohio and southeast Michigan benefit from Genacross programs and services that foster compassionate care and wellness in many areas of life. Genacross’ network of services includes skilled nursing care, assisted living, inpatient and outpatient rehabilitation, respite care, and affordable independent living for seniors, as well as community-based residential care and treatment programs for high-risk youth. Genacross is a nonprofit, Christian organization that employs more than 700 people and is supported by nearly 170 Lutheran congregations across the region.
Benedictine is a mission-based not-for-profit that has provided a full spectrum of health and housing services to aging adults for over 35 years. Based in Duluth, MN, Benedictine owns and manages skilled nursing, assisted living and independent living communities across the upper Midwest and offers services in such areas as therapy, rehabilitation, memory care, home health care, adult day and transitional care. Benedictine is one of the largest Catholic senior care organizations in the United States, with more than 30 senior care communities in five states.