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PA-Based ACTS Retirement-Life Communities Announces Agreement to Acquire Carlton Cove in Huntsville, Alabama
Date:4/22/2008

Experiences steady growth with additional CCRCs in PA, NC, SC, GA and FL

WEST POINT, Pa., April 22 /PRNewswire-USNewswire/ -- ACTS Retirement-Life Communities, a premier not-for-profit senior living organization, announced today that it has signed an agreement to acquire the assets of Carlton Cove, a continuing care retirement community (CCRC) in Huntsville, Alabama. The transaction is expected to close by May 30.

Following the closing of this transaction, Carlton Cove will become the 19th ACTS continuing care community and the third retirement community the organization has acquired rather than built. ACTS is a mission-driven, faith-based company formed more than 35 years ago by a Pennsylvania pastor and members of a non-denominational church.

"This acquisition is an exciting opportunity for ACTS and provides for the continued success and security of Carlton Cove, its residents and employees," said Marvin Mashner, ACTS President and CEO. "It is our desire to continue to grow our ministry and we knew when we first saw Carlton Cove that it was an excellent fit for our growth plans. We are very excited to welcome the Carlton Cove residents and team members into the ACTS family, as well as becoming a strong community contributor and partner."

Located on a 43-acre campus in south Huntsville, Madison County, Carlton Cove opened in 2003 and has 162 independent living apartments and single family homes and also provides personal daily assistance, skilled nursing care and Alzheimer's/memory support in an on-site health center. The community has numerous amenities and services including formal and casual dining venues, a fitness center, indoor pool, tennis courts, woodshop, and many social and recreational activities.

ACTS' life care communities are full-service CCRCs offering a mix of independent living and single family homes, assisted living, skilled nursing care and Alzheimer's care on the same campus. The ACTS life car
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SOURCE ACTS Retirement Life Communities
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