LOS ANGELES — The seniors housing industry needs to focus more on the health and happiness of residents and less on the real estate aspect of the business if profits are going to be sustained for the long term, said Maragret Wylde, president and CEO of research and advisory firm ProMatura Group and keynote speaker at last Thursday’s InterFace Seniors Housing West conference. Approximately 250 industry professionals attended the event held Feb. 26 at the Omni Hotel in Los Angeles.
News
BRENTWOOD, Tenn. — Brookdale Senior Living has appointed an expert to broaden its cognitive fitness programs. Dr. Paul Nussbaum, a board-certified psychologist specializing in neuropsychology, was named the company’s national director of brain health. Brookdale, which operates over 1,000 seniors living communities in 46 states, is America’s largest provider of Alzheimer’s and dementia care.
TOLEDO, Ohio — Health Care REIT Inc. (NYSE: HCN) has completed its underwritten public offering of 17 million shares of common stock at $75.50 per share. HCN granted the underwriters an option to purchase up to an additional 2.5 million shares during the next 30 days.
PROSPER, Texas — Dallas-based Tribute Senior Living will begin construction this spring on an advanced memory care and seniors living community at the corner of Preston Road and Broadway in Prosper, Texas. Upon completion in 2016, the 60,000-square-foot community will be home to 100 residents.
BUFFALO, N.Y. — Almost Family, Inc. (Nasdaq: AFAM), a provider of home health nursing services, has signed a definitive agreement to acquire the stock of WillCare HealthCare. Buffalo-based WillCare, a provider of skilled home health and personal care services, generated $72 million in revenue in 2014 and currently operates 16 branch locations in three states. With this acquisition, Louisville, Ky.-based Almost Family will operate over 230 branches across 15 states. The company expects its annual net revenue run rate to approach $600 million.