TPG has closed on previously announced plans to acquire Assisted Living Concepts Inc. (NYSE:ALC), a long-term care (LTC) provider, for $280 million in cash.
TPG, an investment firm once known as Texas Pacific Group, has taken Assisted Living Concepts’ stock off of the New York Stock Exchange and appointed Jack Callison Jr. to become the company’s chief executive officer.
Dr. Chip Roadman has been the temporary CEO.