Brookdale Senior Living
Brookdale Senior Living owns and operates over 700 senior living communities and retirement communities in the United States. Brookdale was established in 1978 and is based in Brentwood, Tennessee.
 Brookdale logo | |
| Public Company | |
| Traded as | NYSE: BKD Russell 2000 Component[1] |
| Industry | Seniors residences][Assisted Living |
| Founded | 1978 |
| Headquarters | , United States of America |
Number of locations | Over 700 |
Key people | Lee S. Wielansky (Executive Chairman) Lucinda M. Baier (CEO) Steven E. Swain (EVP/CFO) Cedric T. Coco (EVP/CPO) |
| Revenue |  |
Number of employees | 62,550[3] (2017) |
| Website | www |
In the late 1990s and early 2000s, Fortress Investments became the majority owner of Brookdale, holding approximately 51% of its share. Currently, Glenview Capital Management (a hedge fund) holds the largest number of shares. Brookdale has approximately 70,000 staff members and 100,000 residents.[4]
As of 2018, it was the largest operator of senior housing in the United States.[5]
Services
Brookdale Senior Living offers Independent Living, Personalized Assisted Living, Memory Care for Alzheimer's disease and dementia diagnosed residents, Rehabilitation, Skilled Nursing and Home Health Services. Brookdale also offers Continuing Care Retirement Communities where residents can live without moving when they need nursing care.
History
When Brookdale was established, it developed large upscale urban retirement communities in cities such as Chicago, New York, and Miami. The early communities replicated five-star hotels like the Hyatt, Marriott's, and Hilton hotels of the modern era.
From the late 1990s to mid-2000s, Brookdale developed more communities that resembled earlier models, but also reflected changing retirement trends. The new communities included Continuous Care Retirement Communities (CCRC), which house skilled nursing facilities, assisted living, independent living, and memory care facilities.
By early 2005, Brookdale had grown to approximately 90 standalone properties. During this time Fortress Investments acquired the recently bankrupt Alterra Corporation. Alterra exited bankruptcy with approximately 300 properties, and merged with Brookdale.
Brookdale merged with the American Retirement Corporation (ARC Therapy) in July 2006. ARC operated approximately 130 properties. Fortress saw this as an opportunity to put Brookdale at the forefront of senior living, not just by sheer size but with the marrying of two of the longest-running and most successful companies in the industry. After the ARC merger, Brookdale was operating approximately 550 communities in 36 states.
In October 2009, the Wall Street Journal reported that Brookdale was buying 21 free standing properties from Sunrise Senior Living Services.
Brookdale acquired Horizon Bay Retirement Living, a privately held company with approximately 90 communities, in October 2011.
In July 2014, Brookdale merged with Emeritus Senior Living and became the only national full-spectrum senior living company. With over 1,100 communities in 46 states, covering 80% of the U.S. population.[6]
Controversy
In 2013, a Brookdale facility, Glenwood Gardens in Bakersfield, California, became the focus of national media coverage when a staff member refused to give CPR, as requested by a 911 operator, to 87-year-old Lorraine Bayless, a resident. Lorraine died at Glenwood of a stroke.[7]
After Bayless's death, Brookdale cited a policy to reporters that allegedly prohibited staff members performing CPR on residents of its independent living facilities; however, the spokesman did not provide copies of the policy to reporters.[8] Brookdale later reversed its public position, saying that the staff member had misinterpreted the CPR policy.[9] Police closed the Glenwood investigation without filing any criminal charges. The Bayless family said it had no intention of suing Brookdale over Lorraine's death.[9]
References
- "Assisted living firms weak ahead of Q1 earnings". Seeking Alpha. Retrieved 2019-05-22.
- http://phx.corporate-ir.net/phoenix.zhtml?c=193337&p=irol-IRHome
- "Brookdale Senior Living". Fortune. Retrieved 2019-01-14.
- "Brookdale: Our Company".
- Fung, Esther (30 October 2018). "Baby Boomers Are Living at Home. That's Bad News for Senior-Housing Developers". The Wall Street Journal. Retrieved 12 August 2019.
- "Brookdale Senior Living and Emeritus Senior Living Complete Merger". Brookdale Newsroom. Archived from the original on 17 March 2016. Retrieved 27 March 2016.
- "Facility's no-CPR policy takes heat after woman's death". USA Today. Retrieved 2019-05-22.
- "Why did staff refuse to give woman CPR?" (webpage-embedded Flash video). CNN. March 4, 2013.
- Cone, Tracie (March 6, 2013). "Glenwood Gardens CPR Case: Family Satisfied With Care Woman Received". The Huffington Post. Associated Press. Archived from the original on March 9, 2013. Retrieved February 23, 2014.
External links
- Business data for Brookdale Senior Living: