Colfax-based Brightspire, formerly The Presbyterian Home, and Greensboro-based The Well-Spring Group will have equal shares in the parent company. Once combined, the company would be the largest not-for-profit older-adult living organization in the state and in the top 40 in the nation.
The move would have to be approved by leadership in both organizations as well as government regulators.
Together, the companies own five continuing-care retirement communities serving more than 2,000 residents and with more than 2,100 employees. There are no layoffs anticipated in the wave of the potential merger, the report said.
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