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Fitch Ratings assigns ‘A-‘ credit rating with stable outlook for HumanGood

Fitch Ratings has assigned an upgraded rating of ‘A-’ with a stable outlook for the 14 California HumanGood life plan communities. This is an upgrade from our previous rating of ‘BBB+’.

The new credit rating will allow HumanGood to obtain more favorable borrowing rates for refinancing, resulting in significant savings for the future.

“This is a big win for HumanGood,” said John Cochrane, HumanGood CEO and president. “Along with our affiliation with Presby’s Inspired Life, this will help us invest in our future success and inspire more people to live their best lives possible.”

HumanGood’s affiliation with Presby’s Inspired Life, a regional leader of continuing care and affordable housing for seniors in greater Philadelphia, closed on June 30. As a result of the affiliation, the company became the 6th largest national non-profit senior living provider, with John Cochrane assuming leadership as CEO of the united organization.

The united organization will provide enhanced performance and care, create more opportunities for team members across a wider network of communities, and provide greater financial resources for new products, services and communities.

HumanGood and Presby’s Inspired Life Announce Affiliation

HUMANGOOD AND PRESBY’S INSPIRED LIFE ANNOUNCE AFFILIATION

– Affiliation to strengthen senior housing and services for older adults coast to coast –

LAFAYETTE HILL, Pa. (June 17, 2019) — HumanGood, California’s largest non-profit provider of senior housing and services, and Presby’s Inspired Life (Presby), a regional leader of continuing care and affordable housing for seniors in greater Philadelphia, announced today that the two organizations are joining in an affiliation which is expected to be finalized by June 30, 2019.  The affiliated organization will be the sixth largest national nonprofit senior living provider. 

The two senior living industry leaders will come together to create a united organization with increased competitive advantage, relevance, reach and impact on a national scale. HumanGood and Presby share similar missions as nonprofit, faith-based organizations that are focused on providing exceptional living experiences and enhancing the lives of all older adults.

Specifically, the affiliation will allow the united organization to enhance performance and care, create more opportunities for team members across a wider network of communities and provide greater resources for additional continuing care and affordable housing communities, as well as new products and services. 

“Coming together with Presby is a big win for both of our teams,” said John Cochrane, CEO of HumanGood. “At HumanGood, we believe in inspiring the best life possible for our residents and team members and we are excited to join with an organization that shares the same belief. Our united organization will have a greater mission impact and together, we will do more good for more people.”

Once the affiliation is complete, HumanGood CEO John Cochrane will assume leadership of the united organization. Presby’s Inspired Life CEO Judee M. Bavaria will continue working with the organization supporting the transition until December 2019.

“Presby’s Inspired Life has spent the last six decades discovering innovative and creative ways to expand its housing options to meet the growing demand for senior housing across the socio-economic spectrum in the Philadelphia region,” said Judee M. Bavaria, president & CEO of Presby’s Inspired Life. “We are excited to join forces with HumanGood to elevate our collective services to older adults and continue to break ground in the field of aging communities and services.”

For more information about the affiliation, visit www.inspiredforgood.org.

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ABOUT PRESBY’S INSPIRED LIFE — Presby’s Inspired Life, a nonprofit, faith-based organization, currently provides continuing care and Affordable Housing for more than 3,000 people 62 and better, across more than 30 communities throughout greater Philadelphia. The organization has been serving the Philadelphia community for more than 60 years. Learn more at PresbysInspiredLife.org.

ABOUT HUMANGOOD — At HumanGood, we believe that life is personal and our mission is to redefine the meaning of aging well. As California’s largest nonprofit provider of senior housing and services and one of the largest organizations of its kind in the nation, we work to inspire the best life possible for our residents and team members. We serve nearly 10,000 residents in 77 communities across California, Arizona, Nevada, Washington and Idaho. Learn more at HumanGood.org.