Luther Manor President and CEO Stephanie Chedid is excited. Since her appointment as head honcho last January, Chedid has seen first-hand the passion her employees and residents share for Luther Manor. The organization is based in in the western Milwaukee suburb of Wauwatosa, Wisconsin, and spread across three nearby campuses, offering the full continuum of care […]
Category: Non-Profit
ACTS Retirement-Life Communities is in the midst of a $300 million project to revamp its CCRCs—but the company’s strongest investments might be in a different area. While he acknowledges how important the facility upgrades are, ACTS CEO J. Mark Vanderbeck speaks especially forcefully about the nonprofit provider’s commitment to its workers. Cultivating satisfaction and longevity at every level […]
It’ll take more than a name change to keep continuing care retirement communities (CCRCs) successful—or even in existence—in the future. At least, that’s the impression one gets from speaking with a leader in the industry—Doug Leidig, who became president and CEO of Asbury Communities Inc. in June 2015. Asbury’s six communities—in Maryland, Pennsylvania and Oklahoma—together […]
How do you turn around a senior living company facing nearly $3 million in net operating losses, with one of its CCRCs still recovering from a high-profile bankruptcy? Virginia Baptist Homes’ new president and CEO, Jonathan R. Cook, has helped right the ship by putting forward concrete goals and focusing on the block-and-tackle changes needed […]
From here on out, continuing care retirement communities may be called “Life Plan Communities” — or not. The new term emerged out of a lengthy process spearheaded by LeadingAge and Mather LifeWays, which revealed shortcomings in the “CCRC” terminology. Still, even leaders of the project admit that there’s no telling whether the newly proposed alternative will have staying power. The […]
Ecumen, National Senior Campuses and Episcopal SeniorLife were among the fastest-growing nonprofit senior housing providers in 2014, according to the 2015 LeadingAge Ziegler 150. The LZ 150, now in its 12th edition, lists the largest not-for-profit systems offering aging services through senior living in the country, among other statistics. This year, the top three largest not-for-profit […]
A clear consensus is emerging in the senior living sector: Nonprofits are bouncing back after the recession, and leaders in the industry are taking note of their aggressive push for affiliations. More nonprofit senior living providers are choosing to consolidate or partake in joint ventures for strategic reasons, as opposed to the financial pressures that […]
Ziegler and LeadingAge have released a sneak preview of their annual research project analyzing the largest not-for-profit senior living providers in the U.S., revealing the top 25 multi-site senior living organizations, and there is a new No. 1: National Senior Campuses. “National Senior Campuses has been pretty aggressive with their growth,” Lisa McCracken, senior vice […]
NHI Acquires Ohio Assisted Living and Memory Care Community for $21 Million National Health Investors (NYSE: NHI) announced on Aug. 3 that its NHI-Bickford Senior Living joint venture has acquired Fairfield Village, an assisted living and memory care community in Lancaster, Ohio, for $21 million in cash. The 92-unit Fairfield Village was built in 2006 […]
Senior care acquisitions shattered records last year. And now just two months into 2015, senior housing is leading the way when it comes to mergers, acquisitions and affiliations in both the for-profit and not-for-profit sectors. Senior housing and care represented more than 280 transaction totaling $25.75 billion last year, propelling overall health care M&A activity to […]