Healthcare Services Group to Buy NEXDINE Hospitality for $93.5 Million
The all-cash purchase of a privately held dining and hospitality service manager is meant to expand HCSG into senior living and hospitality-driven care.
Healthcare Services Group, Inc. (HCSG) agreed to acquire NEXDINE Hospitality for an upfront purchase price of $93.5 million in cash.
The deal is a step into senior living and hospitality-driven care, markets described as rapidly growing. NEXDINE is privately held and a leader in dining and hospitality service management.
Ted Wahl, President and CEO of Healthcare Services Group, said the purchase is a significant milestone as the company expands that footprint.
The transaction is structured as an all-cash acquisition of the target. The release did not state an exchange ratio, a premium, or an expected close date.
Healthcare Services Group framed the rationale as adding a hospitality service operator to its existing healthcare-services platform rather than as a real-estate or facility purchase. The company did not disclose NEXDINE’s revenue, locations, or employee count.
The $93.5 million figure is the upfront purchase price as announced. Healthcare Services Group did not provide working-capital adjustments, earnouts, or other contingent consideration in the release.
Wahl’s comment tied the acquisition to the company’s stated market focus on senior living and hospitality-driven care. The company did not quantify expected synergies, accretion, or a timeline for integration.
It remains unclear how NEXDINE’s dining and hospitality service management will be combined with Healthcare Services Group’s current operations. The company said the purchase is a milestone in that expansion.