North Palm Beach, FL-based AgeWell Solvere Living will assume management of Orlando, FL-based Sonata Senior Living-branded communities effective Nov. 1, the companies announced Tuesday.
Neither AgeWell Solvere’s nor Sonata’s name will change with the deal, AgeWell Co-CEO Kristin Kutac Ward told the McKnight’s Business Daily. “The Sonata communities will remain and live on as a brand, as a community brand managed by AgeWell Solvere Living,” she said.
The latest acquisition follows the merger of AgeWell Living and Solvere Living on Jan. 1, which created a combined company with 19 communities with approximately 2,400 total units across seven states. The Sonata deal will result in a total of 34 communities under management for AgeWell Solvere Living, 22 of them in Florida.
“In addition to providing more competitive resources for our owners and communities, the merging companies share strong culture and values, which support residents and team members,” AgeWell Solvere Living Chairman Larry Landry said in a press release.
“I knew from their reputation that AgeWell Solvere was one of the few companies that would match well with our entrepreneurial spirit, culture and strong work ethic,” Sonata founder and Managing Partner Stuart Beebe said. “Their expertise, experience and demonstrated hands-on approach to getting the job done day in and day out gave me confidence that this merger made sense and would be successful.”
Beebe is one of 13 senior leaders from Sonata, including two C-suite executives, who are joining the AgeWell Solvere Living leadership team. Beebe is joining AgeWell Solvere as managing director, and Sonata Chief Development Officer Stephen Caruso will have the same title at AgeWell Solvere. The other 11 Sonata executives coming on board at Agewell Solvere are senior vice presidents, vice presidents or directors.
Sonata’s former CEO and president, Shelley Esden, has left the company, Ward said. Former Sonata Chief Operating Officer Jamie Merrill left this summer to become president and CEO of the Boys & Girls Clubs of Central Florida.
The merger, Ward said, not only strengthens AgeWell Solvere’s presence in Florida and the Southeast region; it also allows the company to be better equipped to support those communities.
