FOR IMMEDIATE RELEASE
DRESNER PARTNERS ADVISED CARLE FOUNDATION
IN SALE OF ITS SKILLED NURSING AND MEMORY CARE BUSINESS
TO TRADITIONS MANAGEMENT
CHICAGO – December 1, 2009 – Dresner Partners, a leading FINRA-registered, middle-market investment bank and IMAP member firm, announced today that it advised Urbana, Illinois-based Carle Foundation (“Carle”) in the sale of its wholly owned skilled nursing and memory care business to Dunedin, Florida-based Traditions Management USA LLC.
Carle’s skilled nursing and memory care facility, the Carle Arbours, is a 240-bed Medicare-licensed facility that provides a full range of care including 24-hour nursing, respite care and hospice. In addition, the facility provides occupational and speech therapy and rehabilitative services.
Rob Tonkinson, Carle’s Chief Financial Officer, commented, “We are grateful for the excellent work performed by Dresner in identifying potential buyers and marketing this property. Their contacts were extensive and identified several strong potential buyers, which led to a very positive outcome for the Carle Foundation.”
Steven Dresner, founder and President of Dresner Partners, added, “Dresner has had the privilege of providing advisory services to Carle on multiple occasions. We count Carle among our most valued relationships.”
About Dresner Partners
Dresner Partners is a FINRA-registered, middle-market investment bank headquartered in Chicago, Illinois. Founded in 1991, Dresner Partners provides financial advisory services to business owners and managers throughout the world, including institutional private placements of debt and equity, merger and acquisitions, valuations and strategic consulting services. Dresner Partners' Healthcare Advisory Group provides a full spectrum of healthcare investment banking services to healthcare sectors ranging from acute care to outpatient and ancillary services such as home health agencies, ambulatory surgery centers, renal dialysis providers, diagnostic laboratories, imaging companies, and payers. Dresner Partners is also a member of IMAP, an exclusive global organization of leading merger and acquisition advisory service firms. Its affiliate company, Dresner Corporate Services, is a strategic communications firm specializing in public and investor relations. More information is available at www.dresnerpartners.com.
About Carle Foundation
The Carle Foundation operates a variety of health-related businesses to provide residents of east central Illinois a complete array of quality health services. Carle owns and operates Carle Foundation Hospital, a not-for-profit 315-bed Joint Commission accredited hospital in Urbana, Illinois. Carle Foundation Hospital’s services include a full spectrum of acute care and outpatient services, including a heart and vascular institute, a cancer center, and the area’s only Level I trauma center and Level III perinatal center. In addition, Carle offers a broad range of related services, including home health, assisted and independent living, pharmacy, therapy and rehabilitation, ambulance and sports medicine. More information is available at www.carle.org.
About Traditions Management
Traditions Management provides management and consulting services at all levels of the seniors housing continuum, including independent senior living, rehab facilities, assisted living, and skilled nursing. Traditions’ consulting services include routine nurse consulting, market studies, rehab utilization analysis, and temporary administration. The Company provides full-service management that covers all areas of running a facility including nursing, accounting, general management, marketing, risk management, and development. The Company owns or manages 10 facilities in the states of Florida, Virginia, Iowa, and Illinois. More information is available at www.traditionsmanagement.net.
For Media Inquiries:
Stephen Mullin, Director of Information & Marketing, Dresner Partners, (312) 780-7213, firstname.lastname@example.org