CHICAGO and NASHVILLE, Tenn. — Ventas (NYSE: VTR), a Chicago-based REIT and one of the largest owners of seniors housing in the country, has restructured its master lease with Brookdale (NYSE: BKD), the largest seniors housing operator in the country, in response to the challenges presented by the COVID-19 pandemic. Ventas owns 120 Brookdale-managed communities totaling 10,174 units. As part of the restructuring, Brookdale sold five communities that it both owned and operated to Ventas, but will continue to operate those properties. “These agreements represent a significant step forward toward …
Company News
KNOXVILLE, Tenn. — Propel Insurance, a leading retail insurance agency and a portfolio company of Flexpoint Ford, has acquired HealthCare Services (HCS), a boutique risk management and insurance consulting firm based in Knoxville. HCS specializes in serving senior care organizations. The combined agency expects to generate more than $120 million of annual revenue in 2020 and will have seven offices across the country. The acquisition will expand Propel’s existing senior living practice, as well as the Charlotte, North Carolina-based company’s geographic spread. Ed Sims and Taylor Preston, senior partners at …
SARASOTA, Fla. — LifeStar Living LLC, a Sarasota-based seniors housing operator, has announced it will officially launch on July 6. Celebrity sports agent David Falk, who represented Michael Jordan and over 100 other players, founded the company. Falk hired Joel Anderson to lead it as managing principal. Anderson most recently was CEO of Village On The Isle seniors housing community in Venice, Florida. He serves as the chair of LeadingAge Florida as well as an appointee to the Florida governor’s Continuing Care Advisory Council. His background includes over 20 years …
EVANSTON, Ill., and CHAUTAUQUA, N.Y. — Mather and Chautauqua Institution have entered into a partnership to jointly implement research and programming to engage and enrich the lives of seniors, while also providing a forum to discuss critical issues. Through the partnership, residents of senior living communities across the U.S. are invited to engage in CHQ Assembly, a new video platform where subscribers can access lectures, worship, performances, visual arts and recreation programs on their desktop or laptop computers or on mobile devices and televisions. Chautauqua Institution, based in the Western …
BEND, Ore. — Sunshine Retirement Living has announced plans to move into a new headquarters within its current home of Bend. While the square footage was not released, the new headquarters will triple the company’s current footprint. Sunshine operates 32 communities across 16 states, with plans for “significant expansion.”
SHEBOYGAN, Wis., and MINNETONKA, Minn. — PalCare and Notify Nurse Call have formed a strategic partnership that will provide senior living communities with emergency alert systems, nurse call mobile applications and management dashboards. Sheboygan-based PalCare has partnered with over 1,600 communities across North America to implement technological solutions for resident safety and caregiver efficiency. Services include nurse call, access control and wander management. Minnetonka-based Notify is a mobile nurse call system that allows caregivers to receive and respond to alerts from wherever they are in the building.
BALTIMORE — Developer and owner Capital Health Group has launched its new management company, Elegance Living, with Josh Krull as the CEO. Krull has over 20 years of experience in all facets of senior living. He spent 13 years at Atria Senior Living where he was most recently the operations chief of staff. Among other roles at Atria, he worked closely with the COO to oversee operations of communities across North America. Headquartered in Baltimore, Elegance manages 46 senior housing communities in 16 states with approximately 4,150 units, 750 of …
LOUISVILLE, Ky. — myFamilyChannel, a technology company focused on seniors, has named Tim Wesley as its new president. Wesley has 30 years of experience as an executive in healthcare and senior living companies such as Humana, Vencor, Atria and Elmcroft Senior Living. The company, based in Louisville, provides a senior-friendly communications platform that allows families, residents and staff to communicate through smart phones and television screens. Additionally, it provides a pathway for telehealth and communication by physicians, hospitals and other senior-focused companies. Wesley, who served as a consultant to the …
CHICAGO — Ventas Inc. (NYSE: VTR), a Chicago-based REIT and one of the largest owners of seniors housing in the United States, has adjusted its corporate cost structure in response to the COVID-19 pandemic’s impact on the company. In mid-June, Ventas plans to eliminate roles representing over 25 percent of its corporate positions, excluding onsite field personnel, according to a May 27 SEC filing. In addition, for the second half of 2020, the company will reduce the base salary of CEO Deb Cafaro by 20 percent, while reducing the salaries …
BEDFORD, N.H. — Single Digits, a wireless network provider serving multiple commercial real estate sectors including seniors housing, has acquired Inviacom, a provider of Wi-Fi and connectivity services for senior living communities across the U.S. Bedford-based Single Digits cites Inviacom’s specialty in the seniors housing sector as a reason for the purchase. The buyer plans to combine the software and service offerings of the two companies. “Inviacom has been providing exceptional managed Wi-Fi, VoIP, white glove training services and hands-on support to senior living communities since 2011,” says Stephen Singlar, …