Brookdale Senior Living (NYSE: BKD) is expanding its HealthPlus program, with 50 more communities set to launch the program in the next month. The company aims to have 130 communities offering HealthPlus by 2024, representing a third of its portfolio. HealthPlus has shown significant benefits, including fewer urgent care visits and hospitalizations, and increased annual wellness visits.
CEO Cindy Baier believes that programs like HealthPlus will be vital in meeting the future demand from the aging baby boomer population. The company’s focus on needs-based offerings like assisted living and memory care set it apart in the industry, with a strong clinical expertise and personalized services.
Brookdale has extended a master lease with Omega Healthcare Investors, securing funding for CapEx spending. The company posted a net loss in the second quarter but remains optimistic about the future.
HealthPlus aimed at long-term growth
The HealthPlus program offers residents wellness visits, immunizations, and health screenings, enhancing care coordination. Residents enrolled in a Medicare Advantage plan through Brookdale’s partnerships benefit from these services without an additional fee.
Baier highlighted the positive impact of HealthPlus on occupancy and resident satisfaction, leading to better profitability for communities offering the program. The company’s focus on core business areas and marketing strategies align with its growth objectives.
Omega master lease renewed, Baier ‘happy’ with current portfolio
Brookdale renewed a triple-net lease with Omega, extending the agreement until 2037 for 24 communities. Omega will provide $80 million in CapEx for these communities, improving cash-flow performance and liquidity. Baier remains optimistic about Brookdale’s current portfolio and future growth opportunities.
