Senior living is an arguably more challenging industry in 2022 than in any year before the pandemic — but even so, the industry is moving in the right direction, according to Silverado CEO Loren Shook. While the general cost of doing business has risen steadily in the past year and labor remains a sore spot […]
The former top leader of health system Ascension’s senior living arm and Green Street Real Estate Ventures are launching a new senior living operating company with an initial focus on assisted living and memory care. The St. Louis-based company, Chapters Living, is being led by former Ascension Living CEO Danny Stricker. The new operator is […]
Changing consumer preferences with the arrival of the baby boomers. The middle-market. Rising expenses. Evolving resident care needs. The senior living industry is in the midst of a host of changes creating new challenges and opportunities for operators. A melange of forces are driving that change, from the pandemic to a historic labor market and […]
Bridgewood Property Group President and Retirement Center Management CEO Jim Gray is launching a new senior living management company. The new Houston, Texas-based operator, The Aspenwood Company, was created to “meet the evolving needs of [Bridgewood’s] current as well as future developments and acquisitions,” according to a press release on the launch. “Our main primary […]
The management team at Ventas (NYSE: VTR) is seeing its highest senior housing unit revenue in years as operating partners set rates higher for the coming year — but even that is not enough to get the company back to desired margins as cost pressures continue to eat into the bottom line. The Chicago-based real […]
Continuing care retirement communities (CCRCs) have weathered Covid-19 from a relatively good position over the last couple of years — but looking ahead, there are questions as to whether that trend will continue. Widespread cost inflation has pushed CCRC and life plan community operators to get creative to maintain margins, continue unit turnover as steadily […]
The last year was big for resident rate increases, and Anthem Memory Care CEO Isaac Scott thinks 2023 will be similar for one reason: expenses. When labor and other expenses spiked last year and into 2022, many operators hoped such cost increases would be transitory in nature. And as the industry stands on the precipice […]
Eagle Senior Living has completed a financial restructuring to emerge from Chapter 11 bankruptcy protection. The company formed in 2018, through the acquisition of 16 communities formerly operated by Brookdale Senior Living (NYSE: BKD). But occupancy and cash flow challenges were “greatly exacerbated” when the Covid-19 pandemic hit, according to court documents, and the company […]
National Church Residences President and CEO Mark Ricketts has announced his retirement after a more than two-decade career with the organization. The Columbus, Ohio-based senior living and affordable senior housing organization’s board of directors announced the planned leadership transition Wednesday. Ricketts is set to officially retire in June, 2023. Ricketts joined the organization in 2000 […]
September has started with blockbuster health care news that carries major implications for the older adult market — and, by extension, the future of senior living. Giants of retail and insurance are behind the latest headlines: CVS Health — parent company of Aetna — is to acquire Signify Health in a transaction valued at about […]
