Profile: Brookdale Senior Living Inc (BKD.N)
30 Nov 2015
Brookdale Senior Living Inc., incorporated on June 28, 2005, is engaged in the operation of senior living communities in the United States. The Company operates independent living, assisted living and dementia-care communities, and continuing care retirement centers (CCRCs). The Company has five operating segments: Retirement Centers; Assisted Living; CCRCs - Rental; Brookdale Ancillary Services, and Management Services. The Company’s Retirement Centers segment consists of both independent and assisted living units in its retirement center communities, providing a continuum of senior independent and assisted living services. The Company’s Assisted Living segment owns and operates communities that offer housing and 24-hour assistance with activities of daily living (ADLs) to mid-acuity frail and elderly residents. The Company’s CCRCs - Rental segment owns or leases communities that offer a range of living arrangements and services to accommodate various levels of physical ability and health. The Brookdale Ancillary Services segment provides home health, therapy and other ancillary services, as well as education and wellness programs, to residents of many of its communities. The Management Services segment operates some communities that are owned by third parties or in an unconsolidated venture, in which the Company has an ownership interest.
As of December 31, 2014, the Company had 1,143 communities in 46 states of the United States with the ability to serve approximately 111,000 residents. As of December 31, 2014, the Company owned or leased 982 communities with 83,176 units and provided management services to 161 communities with 27,683 units for third parties or unconsolidated ventures in which it had an ownership interest. As of December 31, 2014, the Company operated 148 retirement center communities with 26,514 units, 915 assisted living communities with 62,697 units and 80 CCRCs with 21,648 units. As of December 31, 2014, the Company provided memory care services at 576 of its communities, aggregating 14,054 memory care units across its segments.
The Company's Retirement Centers segment owns or leases communities that are primarily designed for middle to upper income seniors generally aged 75 and older, who desire an upscale residential environment. The majority of the Company's retirement center communities consist of both independent living and assisted living units in a single community, which allows residents to age-in-place by providing them with a range of senior independent and assisted living services. The Company’s retirement center communities are multi-story buildings containing on average 179 units with common areas and amenities. Each retirement center community provides residents with basic services such as meal service, 24-hour emergency response, housekeeping, concierge services, transportation and recreational activities. Most of the communities also offer custom tailored supplemental care services at an additional charge, which may include medication reminders, check-in services, assistance with ADLs, and escort and companion services. As of December 31, 2014, the Company’s Retirement Center segment consisted of 99 retirement center communities with 17,362 units.
The Company's Assisted Living segment owns or leases communities that offer housing and 24-hour assistance with activities of daily life to mid-acuity frail and elderly residents. The Company’s assisted living communities include both freestanding, multi-story communities and freestanding single story communities. The Company also operates memory care communities, which are freestanding assisted living communities specially designed for residents with Alzheimer's disease and other dementias. The residents at the Company’s assisted living and memory care communities receive the basic care level, which includes ongoing health assessments, three meals per day and snacks, coordination of special diets planned by a registered dietitian, assistance with coordination of physician care, social and recreational activities, housekeeping and personal laundry services. The Company also offers exercise programs and programs designed to address issues associated with early stages of Alzheimer's and other forms of dementia. As of December 31, 2014, the Company’s Assisted Living segment consisted of 838 assisted living communities with 55,232 units.
CCRCs - Rental
The Company's CCRCs - Rental segment owns or leases communities that offer a range of living arrangements and services to accommodate variouslevels of physical ability and health. Most of the Company's continuing care retirement centers (CCRCs) have independent living, assisted living and skilled nursing available on one campus or within the immediate market, and some also include memory care and Alzheimer's service areas. As of December 31, 2014, the Company’s CCRCs - Rental segment consisted of 45 CCRCs with 10,582 units, including three entry fee CCRCs with 1,218 units.
Brookdale Ancillary Services
Through the Brookdale Ancillary Services segment, the Company provides home health, outpatient therapy, hospice and other ancillary services, as well as education and wellness programs, to residents of many of its communities, to other senior living communities that the Company does not own or operate and to seniors living outside of the Company's communities. The therapy services provided by the Company include physical, occupational, speech and other specialized therapy and home health services. The Company’s home health services include skilled nursing, physical therapy, occupational therapy, speech language pathology, home health aide services, and social services as needed. As of December 31, 2014, the Company offered therapy services to approximately 54,000 of its units and home health services to approximately 56,000 of its units.
The Company's Management Services segment includes communities operated by the Company pursuant to management agreements. In some cases, the community is owned by third parties and, in other cases, the community is owned in an unconsolidated venture in which the Company has an ownership interest. Under the management agreements for these communities, the Company receives management fees as well as reimbursed expenses, which represent the reimbursement of expenses it incurs on behalf of the owners. As of December 31, 2014, the Management Services segment operated 161 communities and 27,683 units, consisting of 49 retirement center communities, 77 assisted living communities and 35 CCRCs. As of December 31, 2014, the Company operated 61 communities, representing 8,396 units, for third parties and 100 communities, representing 19,287 units, for unconsolidated ventures in which the Company had an ownership interest.
The Company competes with Capital Senior Living Corporation, Sunrise Senior Living, LLC, Life Care Services, LLC, Atria Senior Living Group., HCP, Inc., Ventas, Inc. and Health Care REIT, Inc.
Brookdale Senior Living Inc
111 Westwood Pl Ste 400
BRENTWOOD TN 37027-5057