The agreement is subject to regulatory approvals and that of the organizations’ governing bodies.
Two senior living providers in Connecticut announced Tuesday that they will “join forces.”
The two, Masonicare Corp., and United Methodist Homes, Inc. have agreed “to join forces through a carefully planned alliance designed to strengthen the delivery of care and services for the approximately 6,500 residents and patients in their care,” according to the companies.
“Once concluded, this strategic union will mark a significant milestone in the history of both organizations and will set the stage for a new era of growth, innovation, and sustainability,” according to a statement by the companies.
“By combining our complementary capabilities and talent, we will be poised to create a stronger, more resilient organization that is well-positioned to meet the evolving needs of our residents, patients and stakeholders,” Jon-Paul Venoit, president and CEO of Masonicare, said in a statement. “From our dedicated teams, to our cutting-edge technologies and extensive partner networks, we are confident that the alliance will enable us to deliver even greater value to those in our care.”
The agreement includes UMH becoming part of Masonicare.
An email seeking further details was sent to Masonicare.
Venoit is to remain president and CEO of Masonicare and David Lawlor, resident and CEO of United Methodist Homes, will hold serves as Masonicare CFO and president of its management/consulting services division,according to a statement by the companies.
The agreement is subject to regulatory approvals and that of the organizations’ governing bodies and is expected to to be completed in early 2025, according to the companies.
“Our goal is clear: to harness the collective strengths, talent, and know-how of both companies to form one stronger, enduring, mission-based organization that redefines the standards of excellence in the field of senior living. We are excited to embark on this transformative journey and thrive into the future,” Lawlor said, in the statement.
United Methodist Homes owns and operates five communities in Connecticut, according to the companies.
