Pinnacle Living Working to Ensure Smooth Transition for Eastern Shore Residents and Team Members
October 10, 2018
On October 10, 2018, Pinnacle Living announced it will transfer ownership of Hermitage Eastern Shore to Commonwealth Senior Living. The transfer of ownership is anticipated to be complete by mid to late December.
Pinnacle Living’s Board of Directors reached the very difficult decision that we can no longer sustain continued financial losses at Hermitage Eastern Shore, caused by the need to heavily invest in capital projects and ongoing occupancy challenges. As an organization, we must balance the needs of all communities as we look to the future.
Meetings were held on October 10 with Eastern Shore team members, residents and family members to share this news.
The Commonwealth Senior Living model of service differs from what Pinnacle Living currently provides at Hermitage Eastern Shore. We expect their more affordable independent living, assisted living and memory care services to be well received by the Eastern Shore community. In the coming weeks, Commonwealth Senior Living will be working with the Hermitage Eastern Shore team to assess and determine how they will best meet the needs of each resident.
Pinnacle Living acknowledges the dedication and commitment of each team member as we strive to meet our mission of Enriching Life’s Journey. We recognize the impact of this decision on them. Commonwealth Senior Living will be interviewing team members interested in continuing their employment at the community. Team members not retained by Commonwealth Senior Living will be offered severance pay and if they currently participate in the health insurance program, Pinnacle Living will pay their health insurance costs for a minimum of 30 days.
As ownership is transferred, Pinnacle Living will work closely with Commonwealth Senior Living to facilitate a smooth transition for our residents, their families and team members. .
We are very happy we have identified a partner who is committed to meeting the needs of Eastern Shore residents for many years to come.