As temperatures began to plunge in Chicago, we were sure to bring our readers the hottest industry happenings, including the news that a major senior housing real estate owner has named a new CEO and president.
Ventas Inc. also made a splash by announcing it would sell 36 Kindred-leased skilled nursing facilities for $700 million to Kindred. We also took an in-depth look at current pricing trends and why providers are keen to move off of one popular practice.
Around the web, we fell in love with a group of residents who tried out the mannequin challenge.
Providers Slam Discounting, Embrace Other Pricing Approaches—As competition heats up within the senior housing industry, some companies are doing their best to cool down one common practice—discounting their prices. In an effort to curb the far-reaching impacts of undervaluing senior housing through discounting, providers are taking different approaches to their pricing strategies.
Kindred ‘Expected’ to Buy Ventas SNF Portfolio for $700 Million—Kindred Healthcare (NYSE: KND) is expected to pay $700 million to purchase 36 skilled nursing facilities (SNFs) from Ventas Inc. (NYSE: VTR). The SNFs are currently operated by Kindred.
HCP Names Herzog CEO, Hutchens President—Following a series of recent transactions including the spinoff of HCR ManorCare assets, “Big Three” REIT HCP Inc. (NYSE: HCP) has named a new CEO and a new president. The company announced its board will elect Tom Herzog, the company’s current chief financial officer, as a board member and CEO; and will elect Chief Investment Officer Justin Hutchens to be the company’s president.
Around the Web
Case Could Help L.G.B.T. People Fight Bias in Senior Housing—A lawsuit against a senior living provider has been filed for allegedly failing to protect a resident from hostile residents who have insulted and verbally abused her for being gay, The New York Times reports. The case could be important for housing discrimination against older lesbian, gay, bisexual and transgender people elsewhere.
For Startups Marketing to Seniors, A Novel Idea: Move In With Them—Some major senior living providers are enabling entrepreneurs who create solutions for older adults to spend time within communities by letting select entrepreneurs live within their residences for a few days, NPR reports. The living situation enables entrepreneurs to learn about who they are marketing their products to, and for providers to stay up to date on new technologies quickly.
Move Over Therapy Dogs, Make Room for Miniature Horses—Rather than spending time with therapy dogs, seniors at an independent living complex in Decatur, Illinois, were given playtime with miniature horses.
Austin Senior Citizens Take on the Mannequin Challenge—Move over “Nae-Nae,” the “mannequin challenge” is the hottest viral sensation taking over the Internet, and seniors aren’t being left out. Residents of Austin-based Parsons House took on the fad in their own holiday-themed video.
Written by Amy Baxter