A team of senior living veterans including former Capital Senior Living (NYSE: CSU) CEO Larry Cohen is launching a new operating company, Trustwell Living.
Cohen is starting Trustwell Living with three of his colleagues from Capital Senior Living, according to a press release issued this morning. Cohen led Dallas-based Capital as CEO and vice chairman from 1999 to 2018.
“I am excited to re-enter an industry I love and am fortunate to do so with a leadership team I know so well and admire so highly,” Cohen stated. “We worked closely together for more than a decade during which time our organization established a track record of generating industry leading operating and financial results through various economic and senior living cycles.”
Trustwell will offer independent living, assisted living and memory care, based on a culture of “trust, compassion, integrity and respect,” the release states.
Community empowerment and data-driven analytics related to hiring, retention and support of top talent will be other elements of Trustwell’s operating approach. The plan is to partner with institutional investors to acquire and operate communities.
During Cohen’s tenure at Capital Senior Living, the provider expanded from 27 communities serving about 5,000 residents to 129 communities with a resident capacity of about 16,500. Cohen also is a founding member and former chairman of the American Seniors Housing Association (ASHA) and serves as chairman of the Hall of Fame Committee.
A tax lawyer and CPA, Cohen’s leadership style is largely based on surrounding himself with a strong team, and relying on quality data, he said during a 2016 interview for SHN’s Leadership Series.