ATLANTA — The Senior Living Transformation Co. (SLTC) has acquired a 113-unit assisted living and memory care community in partnership with Omega Healthcare Investors (NYSE: OHI).
The Senior Living Transformation Center, known as The Rivers at Maryland Farms, is the first acquisition and demonstration pilot for the newly formed partnership. The objective of the partnership is to create both an innovation center for technology and data solutions for the seniors housing industry and to demonstrate a new model of care within seniors housing.
SLTC was recently formed by leading senior living and technology investor Arnold Whitman, longtime owner and operator Chip Gabriel, seasoned investment executive Cory Bennett, and Joelle Poe, a healthcare and product executive. SLTC’s mission is to transform senior living through the convergence of real estate, care and technology.
“The senior living industry has been challenged during the last few years by a global pandemic, severe workforce shortages, supply chain interruption, inflation, capital market issues and shifting demographics in the customers we serve,” says Whitman. “With many operators focused on fundamentals in operations, we will provide care and economic value through innovation to address the challenges we face as an industry today so we may continue to serve seniors well into the future.”
To achieve this mission, SLTC will partner with service and solution providers in the senior living industry to accelerate the adoption of technology and demonstrate how programming and care for seniors in communities also creates value in the real estate investment. SLTC is working with partners to define and establish new standards for measuring performance and quality in senior living, based on data and insights generated from pilots. SLTC will serve as a testing ground to help providers hone their solution offerings and measure outcomes by working closely with residents, their families, and the community staff.