newsfilter
← Latest News
Business Wire·

Healthcare Services Group Announces Acquisition of NEXDINE Hospitality

  • Healthcare Services Group, Inc. (HCSG) acquired NEXDINE Hospitality, a leader in dining and hospitality service management within the senior living market.
  • NEXDINE will operate as a wholly-owned subsidiary while retaining its brand identity, headquarters in Mansfield, Massachusetts, and current leadership team led by CEO David Lanci.
  • The acquisition involves an upfront purchase price of $93.5 million with potential additional contingent consideration based on performance targets.
  • The transaction was funded using cash on hand and is expected to generate over $150 million in annual revenue.
  • HCSG views this deal as a strategic expansion into the senior living and hospitality-driven care markets, leveraging NEXDINE's reputation for culinary innovation.
  • NEXDINE's nearly two-decade history focuses on service excellence driven by strong client relationships, aligning with HCSG's operational values.