Brookdale, Emeritus in $2.8B Seniors Merger

NASHVILLE-Brookdale Senior Living Inc. and Emeritus Corp. said Thursday afternoon that they have agreed to merge in a transaction valued at $2.8 billion, including the assumption of mortgage debt. Following the merger’s close, Brookdale’s unit capacity will grow to 112,694 units in 1,1161 communities across 46 states with what the company says is “the only nationwide network of senior living communities” covering the full spectrum of care.

“With still only 10% market share post-merger, we are confident of our prospects for driving further long-term revenue growth through organic expansion, while enhancing our position in a rapidly consolidating industry,” says Brookdale CEO Andy Smith. The combination is expected to produce “significant operating efficiencies and to enable further investment in the ongoing improvement of our service delivery.” It also greatly increases Brookdale’s unit count in heavily populated states such as California, New York, New Jersey, Georgia and Massachusetts.