BENSALEM, Pa. — Healthcare Services Group agreed this week to buy competitor Summit Services Group, Newton Lower Falls, Mass., for $17.2 million.
Both companies provide professional housekeeping, laundry and food services to long-term care and related facilities.
The deal also calls for Healthcare Services Group to assume $1 million in Summit liabilities.
Healthcare Services Group, which serves approximately 1,700 nursing homes, retirement facilities, rehabilitation centers and hospitals, expects the buyout to add $50 million to its annualized revenues.
Summit Services Group serves more than 400 nursing facilities in 35 states.