Discovery Senior Living has undergone significant transformation in recent years, experiencing rapid growth and the establishment of various operating companies. The creation of the Discovery Management Group (DMG) and a new credit facility from Comvest Credit Partners mark a major milestone in the company’s reorganization. CEO Richard Hutchinson shared with Senior Housing News that the focus now is on integrating the best practices of regional operating companies into national brand communities.
The latest operating platform aims to provide centralized support from hubs in California and Florida, with plans for a central U.S. support team in development. This approach builds on Discovery’s recent growth and mirrors developments in the hospitality industry.
Discovery’s nationally-branded communities encompass properties with high unit counts across four brands: Discovery Village, Discovery Commons, and Choreograph. Hutchinson emphasized the importance of leveraging support systems through DMG and testing new operational strategies within the organization.
Longtime Discovery executive Dave Adams will lead the newly established DMG management company, overseeing a network of operating companies that contribute significantly to the company’s cash flow.
Discovery’s ‘system is working’
Since a recapitalization in 2022, Discovery has undergone rapid transformation, including the acquisition of Integral Senior Living (ISL) and the launch of regional management companies like LakeHouse Senior Living and Arvum Senior Living. With up to eight operating companies in place, Hutchinson hinted at the upcoming launch of Provincial Senior Living to further expand the company’s reach.
Key to Discovery’s success has been its robust support system, which has led to increased occupancy rates and improved operational performance. The company’s strategic growth is a testament to the effectiveness of its operational structures and focus on leveraging scale to drive results.
Shaping future growth
As the senior living industry evolves to meet changing demographics and market demands, Discovery remains committed to shaping its organizational structure to support future growth. Recent investments by Comvest Credit Partners will provide additional financial flexibility to fuel the company’s expansion plans.
With a focus on potential acquisitions and partnerships, Discovery anticipates a period of significant opportunities over the next few years. Hutchinson emphasized the importance of maintaining financial capacity to capitalize on these prospects and drive sustained growth across all sectors.
