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CEO excited about merging with Florida retirement community

| Apr 12, 2014 | Business Formation & Planning |

Acquiring a new business can bring a great deal of excitement and lucrative opportunity. However, it is imperative for firms to thoroughly analyze the ins and outs of a transaction before buying a company. In Fort Lauderdale and throughout Florida, a number of businesses have capitalized on the perks that mergers and acquisitions can offer. In order to maximize the benefits of these deals, it is crucial to closely review business goals and do everything possible to ensure a smooth transaction.

A sizeable Ohio-based nonprofit, which owns 330 retirement communities, will merge with a retirement community in Bradenton, Florida. 325 people currently live in the Bradenton facilities, some of whom were concerned about its financial viability, according to the president of the community. Although the community has $20 million worth of debt due to construction, the CEO of the company that will be taking over is very excited about the transaction.

Additionally, he claims that the merger will provide them with a critical place in their nationwide property list and does not anticipate replacing any of the community’s current employees. According to the CEO, merging with this community will make it easier for their company to take root in Florida and is far less complicated than building new facilities.

There are a variety of considerations that companies may want to focus on, whether they are planning a small business merger or are merging with a major corporation. In addition to analyzing corporate strategy objectives, it is smart to look at the deal from a legal perspective. Although this might seem difficult for some, turning to an attorney can help simplify the process.

Source: Bradenton Herald, “National company to take over Bradenton retirement community,” Matt M. Johnson, Mar. 29, 2014

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