DES MOINES and CHICAGO — LCS, the third largest U.S. seniors housing operator, has entered into a strategic merger agreement to acquire Vi, an operator of 10 luxury continuing care retirement communities (CCRCs) across the country.
Headquartered in Chicago, Vi is a hospitality-inspired senior living company with over 3,000 employees serving more than 4,000 residents. Vi’s CCRCs are located in six states: Arizona, California, Colorado, Florida, Illinois and South Carolina.
The company was founded in 1987 as Classic Residence by Hyatt by Penny Pritzker and rebranded as Vi in 2010. (The brand name was derived from the Latin word “vida,” meaning “life.”)
Established in 1971, Des Moines-based LCS serves more than 40,000 residents across a wide range of senior care options including independent living, assisted living, memory care and skilled nursing. The properties under the LCS umbrella are a mix of CCRCs and rental communities.
“Vi’s scale, reputation and commitment to quality perfectly complement LCS’s legacy of leadership and service —positioning us as the premier owner and operator in the senior living industry,” stated Chris Bird, CEO of LCS, in a press release announcing the merger.
“More importantly, both organizations share a deep-rooted dedication to integrity, hospitality and resident-centered care. These shared values will continue to guide us as we create even more exceptional communities for residents to proudly call home,” added Bird.
With this transaction, LCS continues its legacy of owning and operating premier CCRCs. While the Vi portfolio includes 10 luxury CCRCs, LCS remains dedicated to serving not-for-profit and for-profit CCRCs and rental communities, the company noted.
Gary Smith, president of Vi, shared his insights into the merger, which brings together two of the industry’s most renowned and respected brands.
“We believe that combining the talent, experience and expertise of the Vi and LCS teams will position us for future growth while providing new opportunities for our employees and the highest level of service and care to our residents,” said Smith.
The transaction is expected to close in mid-2026 following regulatory approvals. Until then, both companies will continue to operate independently. Additional details will be shared at a later date.
As of June 1, LCS managed 33,766 units across 121 properties, placing it No. 3 on the ASHA 50 list of the largest U.S. seniors housing operators, according to the American Seniors Housing Association. Brookdale Senior Living ranked No. 1 (53,510 units and 639 communities) while Discovery Senior Living ranked No. 2 (39,236 units and 362 properties).
The merger comes on the heels of the company announcing in late August that its five distinct brands — LCS, Life Care Services, LCS Development, LCS Real Estate and Care Purchasing Services — have been consolidated under one unified brand name, LCS.
“Across the senior living industry, we are already recognized as one company, whether we provide operational expertise, development services or group purchasing solutions,” said Rick Westermann, chief marketing officer for LCS.
“This brand alignment is a natural next step. It brings clarity to who we are, reflects the strength of our integrated approach, and reinforces our commitment to being a trusted partner across a full spectrum of senior living services.”
–Matt Valley