Presbyterian Homes acquires stake in Twin Cities health care provider serving seniors

[Minneapolis/St. Paul Business Journal, October 17, 2018] Nonprofit senior-living provider Presbyterian Homes & Services has reached a deal to buy a 50 percent stake in Twin Cities geriatric medical group Genevive.

North Clinic, an independent physicians practice based in Brooklyn Park, is the seller in the transaction. Financial terms of the deal weren’t disclosed. The ownership change goes into effect Jan. 1.

Minneapolis-based Allina Health System will retain its 50 percent stake in Genevive, which serves patients at long-term and transitional-care facilities. Minneapolis-based Genevieve, formerly Geriatric Services of Minnesota, serves about 5,500 adults and, as of last year, employed roughly 112 workers. Read the full story at www.bizjournals.com.