News And Notes

Brookdale Senior Living and Emeritus Announce Merger

NASHVILLE, TN -- Brookdale Senior Living Inc. and Emeritus Corporation announced Feb. 20 the signing of a definitive merger agreement to create a national senior living solutions company. The combined companies will operate a nationwide network of senior living communities with ancillary services across the continuum of care. Following the merger, a Brookdale community will be within 10 miles of 6.5 million seniors 80 years or older, according to a release.

Through this merger, Brookdale will offer independent living, assisted living, dementia care, skilled nursing, outpatient therapy, home health and hospice care. The transaction will expand Brookdale's unit capacity by more than two-thirds to a total of approximately 112,700 units in 1,161 communities in 46 states.

"In an industry with very attractive long-term growth dynamics, this strategic merger creates the first national, predominantly private-pay based, senior living solutions company," said Andy Smith, Brookdale's chief executive officer. "This combination will improve our ability to deliver the best, high quality solutions for the growing demographic of aging seniors and their families."

"Both companies share many core strengths, but foremost is a resident-centric culture, with passionate, dedicated associates committed to providing a high level of customer service," said Granger Cobb, president and chief executive officer of Emeritus. "Combining and maximizing the significant strengths of our two outstanding companies is certain to be of tremendous advantage in supporting our customers and their families as they face the challenges of aging. We are also pleased that Emeritus shareholders will realize compelling and immediate value, as well as the opportunity to participate in the upside potential inherent in this powerful combination."

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