Discovery CEO: ‘Big, Final’ Restructuring Push is On with DMG Launch and Comvest Deal

The transformation of Discovery Senior Living in recent years has included rapid growth and the launch of various operating companies.  With the creation of the Discovery Management Group (DMG) and a new credit facility from Comvest Credit Partners, the company is almost completely reorganized and ready to begin the next chapter, CEO Richard Hutchinson told […]

Wave of Operator Switches Points to Evolving Playbook for Senior Living in Smaller Markets

This article available as part of your SHN+ membership Operator transitions have been making headlines over the last few weeks, with many of the handovers involving properties serving middle-market consumers in secondary markets. The recently announced transitions include: The backstories behind these transitions vary, but many of the communities involved are serving a similar consumer […]

Why 2023 Is Shaping Up to Be Private Equity’s Big Year in Senior Living

Last week, we learned that the first quarter of 2023 was the slowest for new senior living M&A since the same period in 2021. Interest rates causing headaches in capital markets were a big reason why. For companies that previously planned to rely on sourcing debt for new deals, the cost of capital and general […]

ISL, Discovery Senior Living Joining as ‘Sister Companies’ After New Recap From Lee Equity, Coastwood

Integral Senior Living (ISL) and Discovery Senior Living are now collaborating in a move that is in effect creating a new senior living operations heavyweight. Funds advised by specialized investment firms Lee Equity Partners and Coastwood Senior Housing Partners are investing in ISL as part of a new recapitalization, the companies announced Tuesday. They did […]

How Silverado, Discovery and Pathway Are Meeting Senior Living’s ‘Inflection Point’

Senior living operators have radically changed the way they operate over the last few years. Looking ahead, it’s clear there are more changes to come as the industry sits at a crossroads between recovery and stagnation. The shift in the industry since the height of the pandemic has created a multitude of opportunities and challenges. […]

Discovery Recaps with Coastwood, Lee Equity; Decker Named Board Chair

Lee Equity Partners and Coastwood Senior Housing Partners have agreed to make a major investment in a recapitalization of Discovery Senior Living, one of the nation’s largest operators. The Oct. 2 transaction, which was announced Wednesday, is part of a new venture to support the expansion of Discovery Senior Living’s national portfolio. Discovery did not […]

Movers & Shakers: Brookdale’s New Board Chairman

Brookdale Appoints New Director and Non-Executive Chairman of the Board Brookdale Senior Living (NYSE: BKD), the largest senior living operator in the U.S., announced that its Board of Directors has appointed Daniel Decker as Class I director and the non-executive chairman of the board in replacement of the late Granger Cobb, effective Oct. 1. “Dan is […]