Cision PR Newswire
Newly formed Senior Living Transformation Company partners with Omega Healthcare Investors (NYSE: OHI) to launch the Senior Living Transformation Center (SLTC)
News provided bySenior Living Transformation Company
Sep 26, 2023, 5:38 PM ET
The Senior Living Transformation Center will be established at a community in Brentwood, TN and will serve as a showcase for a new technology-enabled model of care for senior living.
ATLANTA, Sept. 26, 2023 /PRNewswire/ -- The Senior Living Transformation Company ("SLTC") is pleased to announce its first acquisition of a 113 unit Assisted Living and Memory Care community in partnership with Omega Healthcare Investors (NYSE: OHI). The Senior Living Transformation Center, known as The Rivers at Maryland Farms, is the first acquisition and demonstration pilot for the newly formed partnership. The objective of the partnership is to create both an innovation center for technology and data solutions for the senior housing industry and to demonstrate a new model of care within senior housing.
The Senior Living Transformation Company was recently formed by leading senior living and technology investor Arnold Whitman, longtime owner and operator Chip Gabriel, seasoned investment executive Cory Bennett, and Joelle Poe, a healthcare and product executive, with the mission to transform senior living through the convergence of real estate, care, and technology. "The senior living industry has been challenged during the last few years by a global pandemic, severe workforce shortages, supply chain interruption, inflation, capital market issues, and shifting demographics in the customers we serve," said Whitman. "With many operators focused on fundamentals in operations, we will provide care and economic value through innovation to address the challenges we face as an industry today so we may continue to serve seniors well into the future."
Whitman added, "In our model, the acts of caring and culture come first. The use of data and technology should supplement and improve the care and cost for the senior population, while fostering human connectedness."
To achieve this mission, SLTC will partner with service and solution providers in the senior living industry to accelerate the adoption of technology and demonstrate how programming and care for seniors in communities also creates value in the real estate investment. SLTC is working with partners to define and establish new standards for measuring performance and quality in senior living, based on data and insights generated from pilots. The Senior Living Transformation Center will serve as a testing ground to help providers hone their solution offerings and measure outcomes by working closely with residents, their families, and the community staff.
About Senior Living Transformation Company:
Founded by industry veterans Arnold Whitman and Chip Gabriel in partnership with investment executive Cory Bennett, and healthcare leader Joelle Poe, the SLTC is an investor in senior housing that seeks to move the industry forward in the aftermath of the COVID-19 pandemic. Most recently Managing Director of Formation Capital, Bennett will lead the investment efforts while Whitman and Gabriel will offer vision and expertise in technology, operations, and development. Joelle will lead the strategy and operationalization of this vision. With record amounts of capital being allocated towards technology innovation in senior care and senior housing, SLTC is the guide that combines the nearly 90 years of relevant experience of its principals and partners to help founders and investors alike. When better solutions and models prevail, residents live longer, fuller, and happier lives and investors see an attractive, long-term risk-adjusted return.
Chief Operating Officer and Partner
Senior Living Transformation Company
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SOURCE Senior Living Transformation Company
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