SeniorLiving.net (SLN) has been acquired by RealPage, Inc. for $4.5 million in cash with the potential to earn additional consideration upon achieving future financial targets through June 2014.
SLN is an internet lead generation platform for the senior housing market that helps families with aging parents find care providers. According to RealPage, the company generates leads though over 200 websites and affiliates to provide customers to nearly 2,700 senior living communities.
“SeniorLiving.Net expands our senior housing offering, which currently features accounting, census management and facilities management marketed as OneSite Senior Living,” said Dirk Wakeham, president of RealPage. “We expect to rapidly expand SeniorLiving.Net’s lead generation and placement network service by leveraging lead generation, capture and management systems that RealPage has deployed in other markets.”
Founded in 2008 by Todd Walrath, SLN’s trailing 12 month results show revenue of less than $1 million and an operating loss said RealPage.
“We are extremely excited to be joining RealPage,” said Walrath. “SeniorLiving.Net has become an important source of qualified families to the top senior care providers in the industry. Our service gives senior care providers a highly qualified family that is matched to their services, location and budget.”
SLN had raised a little over $1 million from CIT GAP Funds and other private investors.