FOR IMMEDIATE RELEASE
The Phoenix at Albany (Photo courtesy of Phoenix Senior Living)
NEW YORK — December 15, 2017 — Hammond Hanlon Camp LLC (“H2C”), a healthcare focused strategic advisory and investment banking firm, served as the exclusive financial advisor to Phoebe Putney Health System (“Phoebe”) on the sale of Phoebe Senior Living at Morningside (“Morningside” or the “Community”) to Care Investment Trust (“CIT”), a real estate investment company focused exclusively on the seniors housing sector. Morningside is a senior living community consisting of 50 assisted care units and 18 memory care units located in Albany, GA that offers an engaging, maintenance-free lifestyle filled with activities. Morningside, was renamed as The Phoenix at Albany, will be operated by Phoenix Senior Living (“Phoenix”), a regional assisted living and memory care operator based in the state of Georgia with a reputation for providing compassionate senior living services throughout the Southeast.
Phoebe Putney Health System initially engaged H2C in 2016for a Real Estate Transaction Alternatives Study (“RETAS”) to identify the best course of action for the Community and the adjacent 16-acre development parcel. After analyzing the Community’s market, operational characteristics, financial performance and the underlying real estate, H2C presented Phoebe with a range of strategic alternatives for the Community. Morningside was the only senior housing community that Phoebe owned and the Board ultimately elected to pursue a sale of Morningside to focus on continued investment in its acute-care hospitals.
“Phoebe has a tradition of delivering high-quality healthcare in Southwest Georgia, which is why vetting the operating partner was just as important as the buyer,” said Jay Miele, Managing Director at H2C. “Phoenix taking over operations at Morningside will continue the Phoebe tradition of care and CIT’s investment will further elevate the community experience.”
About Phoebe Putney Health System
Phoebe Putney Health System is a not-for-profit network of more than 4,500 physicians, nurses, professional staff, and volunteers. We deliver compassionate, high quality healthcare to more than 500,000 residents in our 35-county region. Phoebe is dedicated to providing a better way to health and wellness for our entire community.
We are a recognized leader in specialties including cardiovascular medicine, oncology, orthopaedics, and women’s health; and we offer patients the most advanced diagnostic and therapeutic treatments available.
Phoebe also operates Phoebe Physicians, a self-governing, not-for-profit network that includes clinics and hospital-based physicians representing a wide range of medical specialties. Through our facilities, physician network, and innovative partnerships, we bring state-of-the-art medicine to Georgia’s hometowns.
About Hammond Hanlon Camp LLC
Hammond Hanlon Camp LLC (“H2C”) is an independent strategic advisory and investment banking firm committed to providing superior advice as a trusted advisor to healthcare organizations and related companies throughout the United States. H2C’s professionals have a long track record of success in healthcare mergers and acquisitions, capital markets, real estate and restructuring transactions, acting as lead advisors on hundreds of transactions representing billions of dollars in value.
Hammond Hanlon Camp LLC conducts securities-related engagements through its wholly-owned subsidiary, H2C Securities Inc., member FINRA/SIPC.
Media Contacts
Kelly Duong
858 242 4810
kduong@h2c.com
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