CHICAGO — Not-for-profit senior living providers have grown primarily through community expansions from existing campuses as well as affiliation and acquisition activity, according to the 21st Annual LeadingAge Ziegler (LZ 200) report.
Developed annually through a partnership between LeadingAge and Ziegler, the report is a ranking and analysis of the nation’s 200 largest not-for-profit senior living organizations across the country as of Dec. 31, 2023.
Nearly 30 percent of the total number of units for all senior living systems among this year’s LZ 200 are represented by the 10 largest providers.
The average annual growth rate in total units over the last 10 years is 2.1 percent, the LZ 200 report shows, with independent living and assisted living units growing each year but declining in the number of nursing care beds.
This year’s report represents more than 300,000 market-rate units and nearly 1,600 market-rate communities across the country. It also outlines relevant business trends in the industry to showcase the variety of older adult services and offerings provided in this sector.
The 10 largest not-for-profit multi-site senior living organizations (ranked by total senior living units) include:
- National Senior Communities — Washington, D.C.
- The Evangelical Lutheran Good Samaritan Society — Sioux Falls, South Dakota
- Acts Retirement Services, Inc. — Fort Washington, Pennsylvania
- Presbyterian Homes and Services — Roseville, Minnesota
- Ascension Living — St. Louis, Missouri
- HumanGood — Pleasanton, California
- Covenant Living Communities & Services — Skokie, Illinois
- Lifespace Communities – West Des Moines, Iowa
- Trinity Health Senior Communities — Livonia, Michigan
- Benedictine — Duluth, Minnesota
“This LZ 200 report is a critical annual report that captures the behaviors and characteristics of the country’s largest not-for-profit senior living organizations,” says Dan Hermann, president, CEO and head of investment banking at Ziegler.
“Readers are also able to gain insights into the fastest growing and most progressive organizations nationally, regionally and in their respective states. This information helps to pave a path forward for overall sector growth among not-for-profit providers,” adds Hermann.
The LZ 200 report, developed annually through the LeadingAge/Ziegler partnership, includes more than 200 providers of multi-site systems, more than 200 single-site campuses, and of the largest 200 multi-site providers offering government-subsidized affordable housing.
Previously known as the LZ 100 and LZ 150, the report was expanded in 2014 from LZ 100 to the LZ 150 and to the LZ 200 in 2018 in response to the growing industry and increasing interest.
To view the full report, please click here.