Senior care provider FellowshipLIFE announced Jan. 10 it signed an agreement to transfer CentraState Healthcare System‘s Applewood senior community into its network. 

A representative for FellowshipLIFE said the company is not disclosing financial terms of the deal at this time. The transaction is expected to be completed by mid-year.  

Under the agreement, FellowshipLIFE will fully own and operate the Freehold campus, which will be renamed Applewood Village. CentraState will remain the preferred medical service provider for all residents and maintain an on-site primary care practice and medical director. 

With facilities located less than 2 miles from the Applewood campus, CentraState, a partner of Atlantic Health System, will also hold seats on Applewood’s board. 

Applewood’s 44-acre Monmouth County campus features 300 independent living residences, 40 assisted living apartments, 60 skilled nursing apartments and 11 specialized memory care apartments. 

In a letter to FellowshipLIFE stakeholders, President and CEO Brian Lawrence said the move was “an exceptional opportunity to further FellowshipLIFE’s vision and mission.” 

“As a premier aging services provider, we are always looking for opportunities to better position FellowshipLIFE and its communities, services and programs in N.J.’s competitive marketplace,” Lawrence wrote. “Applewood’s prime location in Monmouth County expands the reach and collaboration of our organization across New Jersey.” 

CentraState President and CEO Thomas Scott added that the agreement allows the health care provider to focus on its core clinical services. 

According to FellowshipLife, Applewood would be the fourth Garden State life plan community to join its network in the past two years. The FellowshipLIFE representative told NJBIZ those facilities are Friends Village in Woodstown; Pines Village in Whiting; and Riverwalk Village at The House of the Good Shepherd in Hackettstown.