With continued strong performace across the senior living market spanning independent living, assisted living and continuing care retirement communities, Brookdale Senior Living (NYSE: BKD) executives say there is more room to grow in the market not only across housing products in terms of rates and occupancy, but also ancillary services such as home care and hospice.
In a presentation given Tuesday at the JMP Securities Financial Services and Real Estate Conference, Brookdale executives outlined current investment opportunities as well as future growth potential.
With strong underlying demographics including a senior population estimated to grow three times faster than the base population and a rising need for memory care among Alzheimer’s patients, Brookdale says, occupancy and pricing are poised to grow steadily.
But outside of its core businesses, the company expects to see expansion among ancillary businesses including home care and hospice services.
Currently, Brookdale serves outpatient therapy in roughly 50,000 units and home health care in 45,000 units, which it expects to grow.
“Home health will have some growth as we continue to get some additional licensure, said Ross Roadman, senior vice president of investor relations. “…over time, we see an opportunity to take those services outside of our walls.”
The company said it expects to capitalize on the highly-fragmented market for senior living, as the only multi-product operator positioned to consolidate all product types.
Written by Elizabeth Ecker