Continuing Care & Assisted Living Facilities
Description
Companies in this industry provide residential and personal care services for the elderly and others who need or want assistance. Major companies include Brookdale Senior Living, Five Star Senior Living, and Sunrise Senior Living (all based in the US), as well as Housing 21 (UK), Sienna Senior Living (Canada), and Tertianum (Switzerland).
In 2024, there were about 860 million people aged 65 years or over worldwide, according to the United Nations Population Division. Asia is at the forefront of this trend, with Hong Kong, South Korea, Taiwan and Japan expected to have the highest share of people aged 65 and older by 2050, according to Statista.
The US continuing care and assisted living facilities industry includes about 25,000 establishments (single-location companies and branches of multi-location companies) with combined annual revenue of $65 billion. Companies that provide residential skilled nursing services are covered in a separate profile.
COMPETITIVE LANDSCAPE
Demand for continuing care is strong due to rapidly aging senior populations in the US and other developed nations. The profitability of individual facilities depends on efficient operations and positive relations with payers, including families and government and commercial insurers. Large companies have some economies of scale in administration and purchasing. Small operators can compete effectively by offering quality service and attractive amenities, or by operating in a prime location. The US industry is fragmented: the 50 largest companies account for about 30% of revenue.
PRODUCTS, OPERATIONS & TECHNOLOGY
The industry includes continuing care retirement communities (CCRCs) and assisted living facilities for the elderly. CCRCs offer personal care (dressing and bathing) and daily living provisions (housekeeping, meals, leisure, and social services) in a variety of residential settings and include on-site nursing care facilities. Assisted living facilities provide similar room, board, supervision, and daily assistance services, but do not provide on-site health care.
Continuing care and assisted living centers typically offer apartment-style units with one to two bedrooms, private bathrooms, and efficiency kitchens. Residents may also dwell in studio apartments or shared suites. An assisted living facility will typically have 50 to 100 units, while CCRCs have about 200 to 300 units. Occupancy rates average about 85%. Typical amenities include regular meals, exercise programs, recreational activities, laundry services, and regular health checkups (either on-site or coordinated off-site). Specific locations in target markets may have special features and services, with the goal of driving greater occupancy.
Companies that operate continuing care facilities seek to provide a wide range of services that allow seniors to "age-in-place" and maintain residency for longer periods of time. Residents may add personal care and daily assistance services as they become unable to handle tasks on their own. A CCRC may include independent, assisted, and skilled nursing capacity, either on the same campus or at nearby locations.
Some facilities provide memory care, rehabilitation, and therapy services to residents. Companies in the continuing care and assisted living industry may also operate separate skilled nursing, independent living, rehabilitation, hospice, or home health facilities.
In 2024, there were about 860 million people aged 65 years or over worldwide, according to the United Nations Population Division. Asia is at the forefront of this trend, with Hong Kong, South Korea, Taiwan and Japan expected to have the highest share of people aged 65 and older by 2050, according to Statista.
The US continuing care and assisted living facilities industry includes about 25,000 establishments (single-location companies and branches of multi-location companies) with combined annual revenue of $65 billion. Companies that provide residential skilled nursing services are covered in a separate profile.
COMPETITIVE LANDSCAPE
Demand for continuing care is strong due to rapidly aging senior populations in the US and other developed nations. The profitability of individual facilities depends on efficient operations and positive relations with payers, including families and government and commercial insurers. Large companies have some economies of scale in administration and purchasing. Small operators can compete effectively by offering quality service and attractive amenities, or by operating in a prime location. The US industry is fragmented: the 50 largest companies account for about 30% of revenue.
PRODUCTS, OPERATIONS & TECHNOLOGY
The industry includes continuing care retirement communities (CCRCs) and assisted living facilities for the elderly. CCRCs offer personal care (dressing and bathing) and daily living provisions (housekeeping, meals, leisure, and social services) in a variety of residential settings and include on-site nursing care facilities. Assisted living facilities provide similar room, board, supervision, and daily assistance services, but do not provide on-site health care.
Continuing care and assisted living centers typically offer apartment-style units with one to two bedrooms, private bathrooms, and efficiency kitchens. Residents may also dwell in studio apartments or shared suites. An assisted living facility will typically have 50 to 100 units, while CCRCs have about 200 to 300 units. Occupancy rates average about 85%. Typical amenities include regular meals, exercise programs, recreational activities, laundry services, and regular health checkups (either on-site or coordinated off-site). Specific locations in target markets may have special features and services, with the goal of driving greater occupancy.
Companies that operate continuing care facilities seek to provide a wide range of services that allow seniors to "age-in-place" and maintain residency for longer periods of time. Residents may add personal care and daily assistance services as they become unable to handle tasks on their own. A CCRC may include independent, assisted, and skilled nursing capacity, either on the same campus or at nearby locations.
Some facilities provide memory care, rehabilitation, and therapy services to residents. Companies in the continuing care and assisted living industry may also operate separate skilled nursing, independent living, rehabilitation, hospice, or home health facilities.
Table of Contents
- Industry Overview
- Quarterly Industry Update
- Business Challenges
- Business Trends
- Industry Opportunities
- Call Preparation Questions
- Financial Information
- Industry Forecast
- Web Links and Acronyms
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