Kaiser Permanente on Wednesday announced it is acquiring Geisinger and folding it into a new entity, Risant Health, in a deal that could have wider implications for how care is delivered in senior living communities. With the deal, the terms of which were not disclosed Wednesday, Danville, Pennsylvania-based Geisinger will keep its name and mission […]
Welltower
Activist shareholder Land & Buildings is still not pleased with Ventas (NYSE: VTR) more than a year after first taking aim at the company’s leaders over claims of mismanagement and underperformance. In an open letter to the Ventas board, Land & Buildings Founder Jonathan Litt said the company plans to vote against Board Chair and […]
Pegasus Senior Living is stepping up to the plate in 2023 with plans to improve staffing through a data-driven “Moneyball” strategy while optimizing operations and growing in memory care. This past winter was “brutal” for Pegasus and the wider industry, according to Pegasus CEO Chris Hollister. But looking ahead, he sees more rebounding in 2023, […]
ProMedica recently promoted a trio of company leaders to help guide the company forward., including a new president for its senior care division. The Toledo, Ohio-based company promoted Angela Brandt, previously president of ProMedica Senior Care, to the role of chief administrative officer Backfilling her newly vacated role is Justin Skiver, who was previously the […]
An alum of Brookdale Senior Living (NYSE: BKD) and Holiday Retirement is leading a new senior living venture aimed at growing at a steady pace. Since launching the company in 2019, Willow Ridge Senior Living Founder Michael Morris has his sights set on growing the New York-based company through new capital partnerships. The Albany, New […]
Senior living industry pioneer and ReNew REIT CEO George Chapman died on Wednesday, according to a notice from the Toledo, Ohio-based company. Chapman, who helped found ReNew REIT in 2018 and also was a longtime CEO of the real estate investment trust that later became Welltower (NYSE: WELL), was a “pillar in the industry and […]
Juniper Communities has set a goal to increase care revenue by three percentage points on a company-wide basis in 2023. Welltower (NYSE: WELL) worked with one of its operators to drive a 74% increase in care revenues between Q4 2021 and Q4 2022. As these examples demonstrate, companies are getting creative in finding new ways […]
When I recently asked Welltower (NYSE: WELL) CEO Shankh Mitra why the company pursued IRS approval to self-manage independent living assets, he replied with a question of his own. “Do you not know the state of our industry?” he asked. The sector continues to fall woefully short in attracting customers, has failed to create a […]
Self-managing certain senior living assets is currently out of the question for Ventas (NYSE: VTR), according to CEO Debra Cafaro. Late last year, fellow real estate investment trust (REIT) Welltower (NYSE: WELL) won flexibility from the IRS to self-manage more than 45,000 independent living units. The Toledo, Ohio-based REIT is now spinning up an operations […]
The impact of Welltower’s new flexibility to self-manage certain independent living units will be felt all throughout the company’s senior housing portfolio, according to COO John Burkart. Last year, Burkart said he thought the senior living industry was decades behind the multifamily industry’s operational sophistication. But by self-managing more than 45,000 independent living units and […]
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