Artis to branch out with new community near Chicago
Artis Senior Living has specialized in standalone memory care since its founding six years ago, but the company is about to branch out with a community set to open in 2019, according to Senior Living News.
Located in a bustling neighborhood about five miles north of downtown Chicago, Artis Senior Living of Lakeview will be the company’s first building to offer both assisted living and memory care under one roof. But while this is a first for the Artis brand, its owners and executive leaders are very familiar with all the different aspects of senior housing and care.
Artis is owned by the Bainum family, which got into the nursing home business in 1959. That’s when Stewart Bainum Sr. started ManorCare, which would become the nation’s largest skilled nursing facility chain. ManorCare merged with Health Care and Retirement Corp. (HCR) in 1998, and the Bainums exited the company entirely a few years later. Subsequently, under the private equity ownership of The Carlyle Group, HCR ManorCare’s fortunes declined, culminating in the company’s bankruptcy and sale to health system ProMedica earlier this year.
After leaving HCR ManorCare, the Bainums continued to own other businesses, including hospitality giant Choice Hotels (NYSE: CHH). However, they also maintained a foothold in the senior housing and care world. In 2012, the family started Artis Senior Living, under the leadership of CEO and President Don Feltman. Feltman started working in a Bainum-owned nursing home 40 years ago as a sophomore in college. He rose to the senior leadership of ManorCare, and then went on to work for Marriott when the hotel company had a retirement community division.
Read the full story at Senior Living News.
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Topics: Housing , Uncategorized