Laurel Lake to attain self-ownership from Catholic Health Partners

Laurel Lake to attain self-ownership from Catholic Health Partners

May 23, 2013 / Hudson OH … On March 27, 2013, the Board of Directors of Laurel Lake Retirement Community, Inc. approved a resolution to purchase Laurel Lake from its sponsor, Humility of Mary Health Partners (HMHP), a member of Catholic Health Partners (CHP).

The decision was endorsed by CHP senior leadership and has now been approved by the Boards of Catholic Health Partners, Humility of Mary Health Partners, and The Sisters of the Humility of Mary.

The Laurel Lake Retirement Community Foundation will now pursue financing to acquire Laurel Lake, with the transaction likely to occur late in 2013. Once the sale is complete, Laurel Lake, Northeast Ohio’s first and largest not-for-profit Life Care community located on 150 acres in Hudson, will once again be independently owned and operated.

“This is an exciting decision by the Laurel Lake Board,” said Jason Niehaus, President of Senior Health and Housing Services for CHP. “Laurel Lake has a strong, experienced leadership team. I am confident this transition will ensure that Laurel Lake will maintain and grow its exemplary reputation into the future.”

“Laurel Lake has enjoyed nearly 25 years of successful operation and growth, many of those years as a member of Humility of Mary Health Partners and Catholic Health Partners,” said Laurel Lake Executive Director David Oster. “Our community is well positioned to continue the exceptional lifestyle for current and future generations of residents.”

CHP’s decision to divest Laurel Lake follows the health system’s announcement last year that it would move to a new Senior Health model of care, one in which its senior health facilities will provide more highly coordinated post-acute care services for CHP hospitals.

With self-ownership, Laurel Lake will retain its nonprofit status. Although Laurel Lake will no longer be sponsored by a Catholic corporation, the community’s commitment to faith-based, mission-guided principles of management and a spiritually rich environment sensitive to the diverse faith traditions of its residents will remain the same.   

In 1989, Laurel Lake became the first retirement community in Northeast Ohio to offer Type A “Extensive” Life Care, the most comprehensive form of long-term care coverage available today. Under self-ownership Laurel Lake will continue to offer Life Care, along with other types of residency options.

Established in 1989, Laurel Lake Retirement Community is a not-for-profit continuing care retirement community (CCRC) offering multiple home styles within 150 scenic acres in historic Hudson, Ohio. Located just one mile from Route 8 and the I-80 Ohio Turnpike and minutes from the Cuyahoga Valley National Park, Laurel Lake offers easy access to the world-class cultural and medical centers of Cleveland and Akron. Lifestyle options include independent living in 225 apartments and 66 villas; 59 assisted living apartments in Greenwood and Rosewood memory-supportive care; and licensed skilled nursing and rehabilitation in the 75-bed Crown Center. Campus amenities include two on-site restaurants and a pub, a fitness & aquatic center, library, computer center, bank, salon, gift shop/convenience store, greenhouse, woodworking & hobby shop, two chapels, a medical clinic and therapy center. Outdoor recreational spaces include sheltered courtyards and gardens, three stocked fishing lakes, five miles of nature trails, a 3-hole practice golf course, woodlands and protected wetlands. To learn more about Laurel Lake, call 1-866-650-2100, visit the community online at www.laurellake.org, or like us on Facebook.