Spring is in full swing, with another new senior living company blooming onto the scene.
This week, the news that Adam Kaplan, a former Senior Lifestyle Corp. executive, is launching Solera Senior Living captured our readers’ attention. We also kept our readers in the know about another executive shakeup at Brookdale, why REITs may be backing off the SNF space and a new Labor Department rule that could send providers’ labor costs soaring.
Here in the newsroom, we were a little concerned about our summer pool prospects after a new CDC report found thousands of pools may be unsafe, with nearly 80% failing to meet health inspection requirements. At senior living communities with pools, it may be a good reminder to check the pH level and disinfectant concentration …
Brookdale’s Chief People Officer to Exit C-Suite—Glenn O. Maul, executive vice president and chief people officer for Brookdale Senior Living (NYSE: BKD), will be stepping down from his roll effective July 15. Brentwood, Tennessee-based Brookdale, the largest senior living owner and operator in the country, has gone through several changes to its C-suite during its rocky integration of Emeritus Corp., including the recent departure of then-President Mark Ohlendorf.
Fitch: REITS to Steer Clear of Skilled Nursing for ‘Forseeable Future’—Facing lower margins for the foreseeable future, real estate investment trusts (REITs) are doing their best to put underperforming skilled nursing assets behind them, according to a special report from Fitch Ratings. The news comes just after HCP, Inc. (NYSE: HCP), one of the “big three” health care REITs, announced it is spinning off its struggling skilled nursing portfolio into a separate REIT.
Providers’ Labor Costs to Soar Under New Overtime Rule—The U.S. Department of Labor (DOL) has dramatically increased the number of salaried workers eligible for overtime, sending senior housing executives—and business leaders in other sectors—crunching numbers and considering how to cope with labor costs that could skyrocket. The final rule will raise Americans’ wages by an estimated $12 billion over the next 10 years. The added costs could be dire for senior living providers.
Former Senior Lifestyle Exec Adam Kaplan Launches New Senior Living Company—Former Senior Lifestyle Corp. executive Adam Kaplan is in the process of launching a new senior living company: Solera Senior Living. The company is preparing to launch as a developer of senior living communities in high barrier to entry markets, Kaplan tells SHN. He will serve as CEO of the new company.
Around the Web
The One-Man Crusader Driven to Improve Lives with Dementia—After losing his father to a sudden illness, James Ashwell was faced with a crisis as his widowed mother’s dementia became more serious, The Guardian writes. He set up Unforgettable.org, a website that provides products, advice and a community for people with dementia and memory loss, including a dementia-specific power of attorney (PoA) product for free.
Poetry Program Empowers Participants with Dementia—Seniors with dementia are becoming poets with the help of a poetry program that aims to trigger memory, calm people and intellectually stimulate residents through the writing process. Mind’s Eye Poetry breaks away from the typical day in assisted living communities with participation in interactive poetry sessions, engaging seniors in art therapy with similar benefits to music therapy.
CDC Study: 8 in 10 Public Pools Fail Routine Health Inspections—With summer approaching, staying cool by taking a dip into a public pool could pose a serious health hazard, according to a recent report from the Centers for Disease Control and Prevention (CDC). Thousands of public pools, hot tubs and water playgrounds have serious health violations and should be closed for the summer, officials say.
Written by Amy Baxter