Leumit Health Services and Matav Association have joined forces to create a network of affordable assisted living homes to cater to the middle class. In this strategic move, the two organizations acquired the assisted living home Lev Ganim in Netanya in a deal valued at tens of millions of shekels. According to the agreement, Matav will hold 60% ownership in the joint company, while Leumit will hold 40%. The transaction is subject to approval by the Ministers of Finance and Health, the Ministry of Welfare, and the Competition Authority.
Haim Fernandes, CEO of Leumit Health Services, stated, "The decision to enter the assisted living sector stems from our vision and preparation for addressing the aging population in Israel. The collaboration with Matav will make assisted living services accessible to the middle class, which is crucial given the high prices currently characterizing this sector. I am pleased with the collaboration with Matav, the largest organization in Israel in the field of nursing, which is already active in the assisted living sector. On a broader scale, it's important to note the new geriatric medical center being built along Jabotinsky Road, between Ramat Gan and Bnei Brak, in partnership with Beit Hadar Company, Hachsharat Hayishuv Company, and Leumit. This center will provide essential services upon opening, addressing needs in ventilation, rehabilitation, nursing, and more."
Lior Strasberg, CEO of Matav, said, "The decision to establish a network of assisted living homes for the middle class is a significant part of Matav's growth strategy and service development for the well-being and quality of life of Israel's senior citizens. The aging rate of Israel's population is significantly rising. Currently, over a million people aged 65 and above live in Israel, and it is estimated that by 2040, this number will double. These statistics necessitate the development of innovative and precise solutions for the elderly population, including making quality assisted living accessible to the middle class in Israel. I am pleased with the partnership with Leumit Health Services and am confident that together we can lead a change and contribute to the dignified aging of senior citizens."
Lev Ganim, located in the western part of Netanya, is easily accessible from the coastal road and is just a 5-minute drive from the beach and the Ir Yamim mall. It is a unique home with a warm, community-like atmosphere, fostering familial relationships between staff and residents and among the residents themselves. The home provides a comprehensive array of services, including cleaning, laundry, classes, workshops, fitness maintenance, and medical support as needed. The facility is managed by Yossi Kaplan, a veteran and respected manager in the field.
It is noteworthy that Matav also owns the Beit Hanasi assisted living home in Hadera. Now, together with Leumit, for which this is a significant and strategic initial step, they plan to establish a network of assisted living homes, with the first step being the acquisition of Lev Ganim.