Leaders from the Sisters of St. Joseph of Northwestern Pennsylvania, Saint Mary's Home of Erie, and LECOM Health Institute for Successful Living have engaged in a due diligence process to evaluate the potential sale of Saint Mary's at Asbury Ridge and the Sisters' Community Living Center (CLC) to LECOM Health, a prominent senior living and healthcare provider in northwest Pennsylvania.
The Sisters previously announced they were seeking a buyer for its CLC property that would continue its operation as a residence for the Sisters and that Saint Mary's was seeking a buyer that would continue to operate the Continuing Care Retirement Community (CCRC). This potential sale would meet both objectives. The due diligence or "information gathering" process will occur over several months and includes acquiring several regulatory and canonical approvals and meeting other conditions required by the Agreement of Sale.
"It makes sense that LECOM is interested in purchasing and operating these properties," said Mary Drexler, SSJ, president of the Sisters of St. Joseph. "LECOM is a well-known, local, non-profit organization that has demonstrated a commitment to the Erie community."
The era of independent, stand-alone senior living facilities has passed. To be effective and sustainable, most facilities nationwide have had to join forces with other providers. Saint Mary's Board of Trustees recognized the need for Saint Mary's to do the same to ensure its long-term viability.
"Our priority continues to be seeking a buyer that can provide stability for our employees and a high level of care for our residents," said Robert Orton, President/CEO of Saint Mary's Home of Erie. "Exploring a potential sale with LECOM, a provider who understands Erie and senior care in our area, is a way to do that."
This potential acquisition reflects LECOM's mission to expand and enhance its network of senior care services in the region. LECOM Health currently operates ten senior living communities in the region, encompassing independent living, personal care, assisted living apartments, and skilled nursing care as part of a full continuum of services for older adults.
"We're enthusiastic about the opportunity to explore the acquisition of Saint Mary's Home of Erie and the Sisters' CLC property. Both of these entities would be important in our commitment to delivering exceptional care for seniors in Erie and neighboring communities," said Dr. James Lin, President of the LECOM Institute for Successful Living. "We recognize the Sisters of St. Joseph and Saint Mary's long history in the Erie community. Saint Mary's is one of the earliest facilities in the country for seniors and is highly regarded for its dedication to residents and their families. We respect the long-established relationship with the Erie community and the legacy of both the Sisters and Saint Mary's."
About Saint Mary's Home of Erie
Saint Mary's Home of Erie is a non-profit Continuing Care Retirement Community (CCRC) that serves primarily seniors and their families on a 34-acre campus that is home to Saint Mary's at Asbury Ridge and the Carriage Homes at Asbury Ridge. Saint Mary's offers a full range of senior living and healthcare services with on-site amenities. Services include Independent Living, Residential Living and Personal Care, Memory Care, Skilled Nursing Care and Rehabilitation. Founded by the Sisters of St. Joseph in 1884 and operated in the Catholic tradition. Saint Mary's Home of Erie is committed to an environment of loving to care where primarily seniors, their families, staff and volunteers participate in fostering an atmosphere of community.
About the Sisters of St. Joseph of Northwestern Pennsylvania
Founded in 17th century France, the Sisters of St. Joseph first came to the Erie Diocese more than 160 years ago to minister to the sick, teach children, and serve in a wide range of ministries. Sisters staffed many schools, including Harborcreek School for Boys, and they established Saint Vincent Hospital, Saint Mary's Home of Erie, Villa Maria Elementary School, Villa Maria Academy, Villa Maria College, St. Joseph's Orphanage, St. Patrick's Haven and numerous other ministries. Sisters, Agrégées, and Associates continue to carry out the Sisters of St. Joseph of Northwestern Pennsylvania mission of unity of neighbor with neighbor and neighbor with God. Everything the Sisters do is in response to the world's ever-changing needs. Their ministries change with the times and are different today than in the late 1800s when they first arrived in the Erie Diocese. What never changes is their spirituality and desire to build relationships and create unity.
About LECOM Health
LECOM Health is a highly innovative, multi-faceted healthcare and education system. As the nation's only osteopathic academic health center, LECOM Health includes Millcreek Community Hospital, Corry Memorial Hospital, Medical Associates of Erie, LECOM Senior Living Center, LECOM Senior Living Communities, LECOM Medical Fitness and Wellness Center, LECOM Nursing and Rehabilitation Center, LECOM at Village Square, LECOM at Elmwood Gardens, LECOM Center for Health and Aging, the Visiting Nurse Association of Erie County, the Achievement Center of LECOM Health, and Corry Counseling Services of LECOM Health. At the core of LECOM Health is the Lake Erie College of Osteopathic Medicine (LECOM), the largest and one of the most affordable medical schools in the country. Since 1993, LECOM has trained nearly 18,000 healthcare professionals through its cutting-edge, student-centered College of Osteopathic Medicine, School of Pharmacy, School of Dental Medicine, School of Podiatric Medicine, School of Health Services Administration, and Graduate School of Biomedical Sciences at campuses in Erie and Greensburg, Pa., Bradenton, Fla., and Elmira, N.Y.
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