Rochester Regional Health and Wegman Companies, Inc
Announce Strategic Agreement for Senior Housing
Wegman Companies to assume day-to-day operations and ownership of The Village at Unity
ROCHESTER, N.Y. – Rochester Regional Health is pleased to announce an expanded collaboration in senior housing with Wegman Companies, Inc. of Rochester, NY. Rochester Regional Health’s Unity Hospital and Wegman Companies have been working together in delivering senior housing services at The Village at Mill Landing in Greece, NY, since 2014. The agreement announced today builds on that success by adding assisted living and memory care at The Village at Unity.
“After a careful year-long evaluation of our senior housing division, we have made the decision to transfer ownership of additional entities of our senior housing division to Wegman Companies and their national partner, Leisure Care,” stated John Foley, SVP/Chief Strategy Officer at Rochester Regional Health. “Wegman Companies/Leisure Care, together, have a demonstrated track record of success in developing and maintaining senior housing communities.”
As part of this agreement, Rochester Regional Health’s name will remain on the properties, and will be added to future Senior Housing properties developed or purchased by Wegman Companies in Rochester.
Wegman Companies has retained a professional management company, Leisure Care, to manage day-to-day operations. Leisure Care has worked together in this capacity with other Wegman Companies properties around the United States. Leisure Care intends to extend employment offers to the current RRH employees at the Village at Unity and the Village at Mill Landing (already owned by Wegman Companies).
“We are thrilled to expand our relationship with Rochester Regional Health,” said Jay Wegman, Partner, Wegman Companies, Inc. “Through this strategic agreement, we will be able to add a family style atmosphere to the extraordinary care and services The Villages offers to our seniors. The Wegman Companies/Leisure Care team is excited to work with the current employees at The Villages.”
Rochester Regional Health will retain ownership and operation of its other Senior Housing facilities at Park Ridge Commons, Resch Commons, Moore Park, Hilton Park and Hudson Housing.
The parties expect the transaction to close by March 1, 2018.
About Rochester Regional Health
Rochester Regional Health is an integrated health services organization serving the people of Western New York, the Finger Lakes and beyond. The system includes five hospitals; primary and specialty practices, rehabilitation centers, ambulatory campuses and immediate care facilities; innovative senior services, facilities and independent housing; a wide range of behavioral health services; and Rochester Regional Health Laboratories and ACM Global Laboratories, a global leader in patient and clinical trials. Rochester Regional Health is the region’s second largest employer. Learn more at RochesterRegional.org.
About Wegman Companies
Wegman Companies, Inc. is a family-owned, full-service real estate development and investment company, specializing in developing and owning senior housing communities including assisted living, memory care and independent living throughout the United States. Wegman Companies, Inc. has been in the senior housing business for over forty years. Philip R. Wegman (Founder) continues to serve as Chairman of the Board. Learn more at www.wegmancompanies.com.