The largest nonprofit senior living providers have once again been identified by industry association LeadingAge and specialty investment bank Ziegler.
The 14th annual LeadingAge Ziegler 150 (LZ 150), published Monday, ranks the largest not-for-profit systems providing aging services through senior living in the United States, in order of total owned market-rate units, as of Dec. 31, 2016.
The top 10 largest organizations are:
1. National Senior Campuses — 19,051 units
2. The Evangelical Lutheran Good Samaritan Society — 17,839 units
3. ACTS Retirement Services, Inc. — 7,862 units
4. Presbyterian Homes & Services — 7,135 units
5. Benedictine Health System — 5,270 units
6. Covenant Retirement Communities — 5,022 units
7. Cornerstone Affiliates (ABHOW & be.group) — 4,761 units
8. Ascension Senior Living — 4,624 units
9. Trinity Senior Living Communities — 4,198 units
10. Retirement Housing Foundation — 4,105 units
Together, these top 10 providers represent about 30% of the total number of units for all organizations in the LZ 150, the report notes.
Once again, the state with the highest number of LZ 150 organizational headquarters is Pennsylvania. Minnesota, meanwhile, has the highest number of LZ 150 communities, at 207.
In the past 10 years, the average yearly growth rate in total nonprofit senior living units equals 3.1%. Independent living and assisted living have grown every year, the report says, but the number of skilled nursing beds has dropped.
Memory care units, meanwhile, are becoming an increasingly critical part of the annual unit counts, with 60% of this year’s LZ 150 having specialized memory care units.
Additionally, about 54% of the LZ 150 offer some type of home and community-based services to individuals who aren’t residents, the report notes.
More growth may be ahead for the largest nonprofit organizations, as 75.2% of the LZ 150 plan to reposition or expand an existing community in 2017 or 2018, the report says.
Written by Mary Kate Nelson