Industry | Retirement community owner, manager, developer |
---|---|
Founded | 1983 |
Headquarters | |
Key people | R. Alan Butler, CEO Debra B. Doyle, COO Christian Sweetser, CFO |
Services | Independent living, assisted living, memory and skilled nursing care |
Number of employees | 17,000+ |
Parent | Redwood Capital Investments LLC |
Website | www |
Erickson Senior Living is an owner, manager and developer of retirement communities in the United States. It provides independent living, assisted living, memory and skilled nursing care, managing 20 campus-style retirement communities in 11 states. Headquartered in Catonsville, Maryland, it employs over 17,000 people for 24,000 residents as of 2024. [1]
Erickson Senior Living was founded in 1983 by John C. Erickson as Erickson Retirement Communities. [2] The first location was a conversion of a Baltimore seminary in Catonsville, Maryland. [3] By 2009, Erickson operated a billion-dollar portfolio of properties in states from Massachusetts to Texas. [4]
Erickson filed for Chapter 11 in 2009. [5] The majority of that company's assets were purchased by Redwood Capital Investments LLC for $365 million, and a new Erickson Living company was created as a subsidiary of Redwood Capital Investments LLC. [6] [7] [8] The company was renamed to Erickson Senior Living in 2021. [9]
In 2017, Erickson invested $47.5 million to expand its original Charlestown campus. [10]
In 2022, Redwood Capital Investments added an ownership stake in LCS, another senior living provider. [11]
Erickson Senior Living owns, manages, and operates campus-style retirement communities that provide independent living, assisted living, memory and skilled nursing care. [12] Residents pay a fee an upfront deposit to secure an apartment home and a single monthly fee to cover most living expenses. Residents pay only for services they want or need [13] and if a resident moves out or dies, a percentage of the deposit is returned to them or their heirs when a new tenant for the apartment is found. [2] [14] As of 2018, Erickson had 20 managed communities in eleven states. [12]
In 2015, Erickson Senior Living was ranked as one of the top 10 senior living providers in the Assisted Living Federation of America's (ALFA) annual ranking of senior living providers by resident capacity. In that same listing, Erickson Senior Living ranked in the top five of independent living providers. [15] In 2022, the American Seniors Housing Association (ASHA) ranked Erickson Senior Living as 14th largest senior housing owner and 5th largest senior housing operator in the ASHA 50, a listing of the largest owners and operators of senior housing communities in the United States. [16]
Catonsville is a census-designated place (CDP) in Baltimore County, Maryland. The population was 44,701 at the 2020 US Census. The community is a streetcar suburb of Baltimore along the city's western border. The town is known for its proximity to the Patapsco River and Patapsco Valley State Park, making it a regional mountain biking hub. The town is also notable as a local hotbed of music, earning it the official nickname of "Music City, Maryland." Catonsville contains the majority of the University of Maryland, Baltimore County (UMBC), a major public research university with close to 14,000 students.
The University of Maryland, Baltimore County (UMBC) is a public research university in Catonsville, Maryland named after Baltimore County. It had a fall 2022 enrollment of 13,991 students, 61 undergraduate majors, over 92 graduate programs and the first university research park in Maryland. It is classified among "R1: Doctoral Universities – Very High Research Activity".
An assisted living residence or assisted living facility (ALF) is a housing facility for people with disabilities or for adults who cannot or who choose not to live independently. The term is popular in the United States. Still, the setting is similar to a retirement home, in the sense that facilities provide a group living environment and typically cater to an older adult population. There is also Caribbean assisted living, which offers a similar service in a resort-like environment.
A retirement community is a residential community or housing complex designed for older adults who are generally able to care for themselves. Assistance from home care agencies is allowed in some communities, and activities and socialization opportunities are often provided. Some of the characteristics typically are: the community must be age-restricted or age-qualified, residents must be partially or fully retired, and the community offers shared services or amenities.
St. Charles College was a minor seminary in Catonsville, Maryland, originally located in Ellicott City, Maryland.
Chartwell Retirement Residences is the largest provider of seniors' housing in Canada, serving over 25,000 residents across Quebec, Ontario, Alberta, and British Columbia. Chartwell offers a range of seniors housing communities, from independent living to assisted living.
A group home, congregate living facility, care home, adult family home, etc., is a structured and supervised residence model that provides assisted living and medical care for those with complex health needs. Traditionally, the model has been used for children or young people who cannot live with their families or afford their own homes, people with chronic disabilities who may be adults or seniors, or people with dementia and related aged illnesses. Typically, there are no more than six residents, and there is at least one trained caregiver there 24 hours a day. In some early "model programs", a house manager, night manager, weekend activity coordinator, and four part-time skill teachers were reported. Originally, the term group home referred to homes of 8 to 16 individuals, which was a state-mandated size during deinstitutionalization. Residential nursing facilities, also included in this article, may be as large as 100 individuals in 2015, which is no longer the case in fields such as intellectual and developmental disabilities. Depending on the severity of the condition requiring one to need to live in a group home, some clients are able to attend day programs and most clients are able to live normal lifestyles.
Atria Management Company, LLC (AMC) is a subsidiary of Atria Senior Living, Inc. (ASL). Atria Management Company manages independent living, assisted living, and memory care communities in more than 200 locations in 38 U.S. states. In Canada, Atria manages 29 independent living communities in seven Canadian provinces. Collectively, Atria communities are the residence of choice for approximately 35,000 senior adults and the company employs more than 10,000 employees. Atria is based in Louisville, Kentucky.
The American Seniors Housing Association (ASHA), created in 1991, is a business association for senior housing providers. It claims to be the "premier source for research, conferences and advocacy." ASHA's membership consists of around 400 companies that operate, develop, and finance various aspects of seniors housing. ASHA's membership owns and/or manages more than 600,000 units of senior apartments, independent living, assisted living, and continuing care retirement communities.
Brookdale Senior Living Solutions owns and operates retirement homes across the United States. The company was established in 1978 and is based in Brentwood, Tennessee. It is the largest operator of senior housing in the United States, with over 60,000 residents.
A continuing care retirement community (CCRC), sometimes known as a life plan community, is a type of retirement community in the U.S. where a continuum of aging care needs—from independent living, assisted living, and skilled nursing care—can all be met within the community. These various levels of shelter and care may be housed on different floors or wings of a single high-rise building or in physically adjacent buildings, such as garden apartments, cottages, duplexes, mid- and low-rise buildings, or spread out in a campus setting. The emphasis of the CCRC model is to enable residents to avoid having to move, except to another level of care within the community, if their needs change.
Kisco Senior Living, based in Carlsbad, California, has 35 full service senior living communities in 12 states offering independent living, assisted living, and in some locations, memory care.
Holiday Retirement, originally known as Holiday Management Company, is a U.S. senior living management company with headquarters in Winter Park, Florida. Founded in 1971 by William E. Colson and his father, Hugh Colson, Holiday Retirement is a privately held company that currently manages 240 retirement communities with over 25,000 total residents, making it one of the largest providers of independent senior living.
Independent senior living communities are housing designed for seniors 55 and older.
Acts Retirement-Life Communities (Acts), based out of Fort Washington, Pennsylvania, is the third largest not-for-profit owner, operator and developer of continuing care retirement communities (CCRCs) in the United States. Acts Life Care® communities provide independent living residences for people age 62 and above, with access to assisted living and skilled nursing care services, usually on the same campus.
The Erickson School of Aging at the University of Maryland, Baltimore County was founded in 2004 by John C. Erickson, with a $5 million gift from Catonsville-based Erickson Living. Erickson Communities now has more than 18,000 residents living in a nationwide network of communities.
Sunrise Senior Living is an American operator of senior living communities. As of 2024, it operates over more than 270 independent living, assisted living and memory care communities throughout the United States and Canada making it the sixth-largest senior living provider in the U.S.
Welltower Inc. is a real estate investment trust that invests in healthcare infrastructure. It is ranked 583rd on the Fortune 500. As of December 31, 2022, the company had investments in approximately 3,000 properties, all of which were in the United States, Canada, and the United Kingdom.
Granger Cobb was an American retirement community executive who built the largest assisted living company in the United States. From one retirement community and through four large mergers and acquisitions, Cobb became the president and chief executive officer of Emeritus Senior Living with 521 retirement communities employing 31,000 people nationwide. He served in that role until Emeritus was acquired by Brookdale Senior Living on July 30, 2014. Cobb became a member of the board of directors of Brookdale.
Sienna Senior Living Inc. is a Canadian publicly traded senior housing company based in Markham, Ontario. As at 31 December 2019, the company owned and operated 70 seniors’ living residences in addition to managing 13 residences for third parties; all were located either in Ontario or B.C. In Ontario, Sienna was the largest long-term care operator. The company is listed on the Toronto Stock Exchange.
Erickson Retirement.