HCP, Inc. (NYSE: HCP) and Argentum are joining forces to promote innovation and technology in senior living, the organizations announced Wednesday.
The three-year corporate partnership between the Irvine, California-based real estate investment trust (REIT) and the national association of senior living providers is inspired by opportunities they see to share metrics and best practices, develop benchmarks, identify and enhance technology use, and cultivate leaders, the organizations said in a press release.
“Building an optimal business is what best serves our members’ residents, families and loved ones,” Argentum President and CEO James Balda said in a prepared statement. “Argentum is honored to partner with HCP to foster operational excellence throughout the senior living industry.”
Specifically, Argentum and HCP plan to work together to develop research related to senior housing, health care investment and other components of the senior living industry. Together, the organizations want to provide senior living providers with new insights and tools to help them embrace innovation throughout their businesses.
HCP and Argentum will also work together to develop an Operational Excellence Symposium concentrated on senior living operations, technology, resident experience and business planning, the organizations said.
“Argentum and HCP share a passion for supporting senior living operators in their efforts to provide excellent care and service to their residents,” added J. Justin Hutchens, HCP’s executive vice president and chief investment officer for senior housing and care.
Argentum was not able to provide further details to Senior Housing News prior to press time. The partnership announcement comes before the association holds its annual meeting, which is scheduled to take place next week in Denver.
Written by Mary Kate Nelson