HCSG•Healthcare Services Group acquired NEXDINE Hospitality for $93.5 million upfront, with additional contingent consideration tied to performance targets. The deal is expected to add more than $150 million in annual revenue.
Healthcare Services Group acquired NEXDINE Hospitality, a dining and hospitality service management provider with a strong senior living presence. The $93.5 million upfront purchase price was funded with cash on hand, with additional contingent consideration tied to performance targets. NEXDINE will operate as a wholly owned subsidiary, retaining its brand and Mansfield, Massachusetts headquarters; founder and CEO David Lanci will remain in charge under the existing leadership team.
