Mergers, acquisitions and affiliations continue to drive growth among not-for-profit senior living providers, recording a 1.6% annual growth rate in 2012 alone, according to the latest LeadingAge/Ziegler 100 report released Thursday.
Among the top 100 nonprofit providers, 90% are now offering memory care services, the LZ 100 reports, while others are offering affordable housing (53%) or some type of home and community-based services (61%).
Some providers are experiencing larger growth rates than others as the top-10 organizations—which represent approximately 36% of total units in the LZ 100—shift in and out of rank in this year’s list.
Here’s the 2013 LeadingAge Ziegler Top 10:
- Evangelical Lutheran Good Samaritan Society (SD) —18,462 units
- National Senior Campuses (MD) — 17,324 units
- ACTS Retirement-Life Communities, Inc. (PA) — 8,069 units
- Presbyterian Homes and Services (MN) — 6,582 units
- Covenant Retirement Communities (IL) — 4,612 units
- Retirement Housing Foundation (CA) — 4,112 units
- Lifespace Communities, Inc. (IA) — 4,085 units
- The Kendal Corporation (PA) — 3,389 units
- Westminster Communities of Florida (FL) — 3,299 units
- Lutheran Senior Services (MO) — 3,277 units
The top-10 nonprofit organizations remained relatively the same in 2013 compared to the preceding year, with a few providers exchanging ranks in the bottom half.
The Kendal Corporation moved into the #8 spot this year, up from #10 in 2012. Westminster Communities of Florida fell one spot on this year’s list to #9, while Lutheran Senior Services moved from #9 in 2012 to #10 in 2013.
The 100 largest not-for-profit senior living providers on the LZ 100 list for 2013 represent more than 201,000 market-rate senior living units across 44 states. Of the top 100, the systems range in size from 18,462 units to 793 units.
The systems are made up of a variety of senior housing and care options across the country, including assisted living, independent living, memory care and affordable housing.
“Similar to other recent years, 2012 did not fall short in providing its challenges to providers,” wrote Dan Hermann, senior managing director and head of investment banking at Ziegler. ”The nation is in the early stages of health care reform, our housing market remains fragile, and the economy continues with its inconsistencies. As a result of these challenges, providers are looking to new and innovative ways to attract residents.”
Click here to view the full list, along with other charts and data compiled by LeadingAge and Ziegler.
Written by Jason Oliva