A health care firm focused on older adults has acquired a small home senior living operator in an effort to expand the company’s footprint in the space and grow a burgeoning brand.
The company, Laguna Hills, California-based Parentis Health, on Tuesday announced it is acquiring Quality Life Homes and its five residential homes in Laguna Niguel.
The communities are planned to house up to six residents each, and carry staffing ratios of three residents per caregiver. Like other small home senior living operators, the homes offer 24-hour care in a homelike setting. Parentis Health also arranges for regular visits from RNs and LVNs.
Parentis Health did not disclose the terms of the acquisition.
In acquiring Quality Life Homes, Parentis is seeking to grow its Verona Court brand of residential care communities. With the deal, the company will have 16 care homes in California under the Verona Court banner in addition to other services, such as home-based care, transportation and hospice services.
But the company is not stopping with Quality Life Homes. In fact, it’s currently eyeing another two care homes to add to its Verona Court portfolio, CEO Tarek A. El Nabli told Senior Housing News.
“Our plan is to increase the number of beds that will be available to provide very excellent care to our residents,” El Nabli told SHN. “We plan on growing more in the residential care arena.”
Currently, Parentis Health has a base of operations in four California markets: Mission Viejo, Laguna Hills, Laguna Niguel, and Laguna Beach. The company focuses on local ties, as “it’s really important to us to be known locally,” El Nabli said.
”We can actually help the residents to live in their community and stay here,” El Nabli said.
Looking ahead, El Nabli said the company could expand into other parts of Orange County in the future.
“We want to grow because we can do it, and we can do it right,” El Nabli said.
Residential care — also sometimes called small home senior living — is a growing trend in the industry, with companies across the space gaining momentum in the wake of the Covid-19 pandemic. Although the sector is still relatively fragmented, several small home senior living companies are looking to grow through acquisitions, new development and even franchise models.
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