Presby’s Inspired Life to be acquired by California nonprofit
The two nonprofits said they will strive to operate on a national scale.
Presby’s Inspired Life, one of the Philadelphia region’s largest operators of affordable housing for seniors, will be acquired by HumanGood, a California nonprofit that operates 77 senior-living communities in California, Arizona, Washington, and Idaho, the two nonprofits said Monday.
Under the terms of the deal, scheduled to be completed June 30, HumanGood’s chief executive John Cochrane continue in that role for the combined operations. Presby’s CEO Judee M. Bavaria will aid in the transition until December.
Presby’s provided continuing care and affordable housing for 3,000 people 62 and older in 30 communities across the Philadelphia region. HumanGood has more than 10,000 residents in its facilities.