Brookdale Senior Living is currently working to vastly expand its service offerings in order to stay on top of the senior housing game. The company recently acquired Emeritus, the country’s largest memory care and assisted living provider. Emeritus also offers on-call nurses, allowing Brookdale to add home health care to their portfolio. Brookdale’s Emeritus acquisition has allowed Brookdale to expand its services outside the walls of its communities. With the addition of home health care to its portfolio of services, Brookdale can expose its brand to those seniors still living independently, building relationships with that market so that should they need to move into a senior living community, they will immediately think of Brookdale. Brookdale is also looking to expand even further than the home healthcare market, and is setting its sights on an even wider array of service offerings.
Brookdale is looking to add additional healthcare services to its offerings. For example, this may include Audiology, dentistry services, nutrition services, transportation, pharmaceutical offerings, and adult day care. The company is also working on programs to offer financial services to residents. Andy Smith, CEO of Brookdale has made it a priority to offer financial services to residents and prospective residents to provide tools to make it easier for them to move into a Brookdale community.
Brookdale’s new offerings through the Emeritus merger boosted the company’s revenue by 82% from the first quarter of 2014. The company believes that its revenue will continue to climb as it rolls out its ancillary services. Brookdale will be able to reach millions of seniors both within and living in the surrounding areas of its communities. However, the company is not in a rush to roll out these additional services, and plans to take its time to ensure it is done correctly. “It’s not going to happen tomorrow. It’s going to take years to build those verticals out, but we think they’re scalable and are going to be a meaningful differentiator as we move down the road”, CEO Smith said.
Contact Cambridge Realty Capital
If your company is ready to prepare for the boom in senior housing demand by adding ancillary services or make any other improvements, Cambridge Realty Capital can help. Cambridge Realty Capital specializes in providing financing and capital for large-scale improvements and construction projects for senior living facilities. We also have expertise in mergers, acquisitions, and joint ventures. For any questions regarding finance and capital for your senior living initiative, contact Cambridge Realty Capital. Our experts are committed to working with you in every step of the financing process.