Is Brookdale for sale?
In the past few weeks, the buzz has increased in the long-term care market that Brookdale Senior Living, the largest senior living property owner in the country, might be on the sale block. For now, the rumors seem to have weight.
At least one company, Blackstone Group LP, has been named as a possible buyer, but other suitors may be in the mix, reported The Wall Street Journal earlier this week. Several negotiation options seem to be on the table, including the sale of all or parts of the company.
Brookdale has had a complex acquisition history of its own over the past four years, most notably with its industry-rocking 2014 acquisition of Emeritus. But the marriage was rockier than expected, and while Brookdale was busy trying to get the Emeritus properties up to snuff, it lost market ground to new competitors, especially in assisted living and memory care, Bloomberg notes. Brookdale’s stocks have been falling since mid-2015, reaching a 7-year low of $11.60 per share right after the Thanksgiving holiday.
Pamela Tabar was editor-in-chief of I Advance Senior Care from 2013-2018. She has worked as a writer and editor for healthcare business media since 1998, including as News Editor of Healthcare Informatics. She has a master’s degree in journalism from Kent State University and a master’s degree in English from the University of York, England.
Topics: Executive Leadership , Housing