Assisted Living Concepts sold to investment firm for $278 M

Assisted Living Concepts, a senior living company with 210 senior housing centers in 20 states, is being acquired by TPG, a global private investment firm. The $278 million deal will change Assisted Living Concepts into a private company.

The struggling senior care provider had been seeking buyers for months, and had spent much of 2012 in the red financially, Reuters reports.

The transaction is one of several high-dollar senior living buyouts in the past six months, including Health Care REIT’s August 2012 purchase of Sunrise Senior Living for about $845 million.

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