Brookdale—— Brookdale Pension Company is the largest pension service company in the United States. Founded in 1978, headquartered in brentwood, Tennessee, it focuses on senior housing and provides high-income and middle-income consumers with active retirement and high-quality personal services. Brookdale was listed on Nasdaq on May 2nd, 1997. At present, Brookdale has more than 1 100 pension communities in 47 States, covering 80% of the population in the United States, with nearly 80,000 employees and serving more than 6,543,800 people. The service types operated by the company mainly include self-care community, assisted living community, special care (Alzheimer's care) community and continuing care retirement community.
-In June 2005, Brookdale merged with Alterra Health Care Company, which was also one of the top companies in the pension industry at that time and went public in June. 1 1.
-In July 2006, Brookdale announced the acquisition of American Retirement Corporation (ARC) in Nashville, Tennessee. At that time, ARC operated nearly 65,438+030 communities in the United States. ARC has been in operation since 1970s, and its business scope ranges from CCRC to aided communities to self-care communities. Fortress believes that the merger of ARC is a good opportunity for Brookdale to push it to the forefront of the industry, not only to expand its scale, but to unite the longest and most successful pension companies in the industry. After the ARC merger, Brookdale has nearly 550 communities in 36 states.
-June 5438+October 20091,Brookdale Pension Company reached an agreement with Sunrise Pension Company, and Brookdale obtained 2 1 pension community from Sunrise Company.
-20111kloc-0/October, Brookdale completed the acquisition of Horizon Bay Retirement Life Company and acquired nearly 90 retirement communities in the United States.
-2065438+At the end of July 2004, Brookdale completed the acquisition of retirement pension company, which was the second largest pension company in the United States at that time. At this point, Brookdale has become the only comprehensive old-age care solution company in the United States, with more than 1 100 old-age care communities in 46 States, covering 80% of the population in the United States. The merger and acquisition of Emeritus Company is of great significance to Brookdale Company, which not only makes it the largest pension company in the United States, the number of communities has soared by 493, and its business scope has rapidly expanded to 47 States, which is also of great significance to the promotion and construction of its brand.
By the end of 20 15, Brookdale had 959 self-operated and leased retirement communities with 8 units1067; Provide management and operation services for 164 communities and 27353 units. In terms of community types, Brookdale operates 130 retirement center communities (24,486 units), 9 15 assistance communities (62,567 units) and 78 CCRCs continuing care retirement communities (2 1367 units). Most of Brookdale's communities are around the campus or have complete facilities.
By the end of 20 15, 38.8% of the company's revenue came from the living and management expenses of users in their own communities, 48.7% from the rental community,11%from the supporting services of Brookdale, and 1.4% from the services provided to third-party companies.
In terms of business income and profit, according to the 20 15 financial statement published by Brookdale Senior Living Company on February 20 16, as shown in the figure: (Source: MarketWatch)
From the chart, we can clearly reflect the business situation of Brookdale in recent years. From 20 1 1 to 20 14, although the operating income has been rising, the profit rate has been growing slowly, even with a negative growth from 20 13 to 20 14. After 20 14 acquired the second largest pension service company in the United States, its performance rose rapidly in a short time. Although it has become the largest pension company in the United States, combined with previous data, its profitability needs to be improved.
Figure: Distribution of pension content
1. Retirement center community
Such communities provide high-quality old-age care services for over 75 middle-and high-income elderly people. Generally, an old-age center community, including self-care units and auxiliary units, can provide self-care or auxiliary services for users according to the situation of different units and users. By the end of 20 15, 78.9% of the community units for the aged were self-care units, and the rest were auxiliary units.
Retirement communities include communities owned and leased by Brookdale, and retirement communities where they provide services for third parties or joint ventures. By the end of 265438+2005, Brookdale's business section of the old-age center had 95 old-age center communities with 17 140 units, accounting for 15.8% of the total community capacity of Brookdale. Providing management services for 35 communities and 7346 units, accounting for 6.8% of the total community capacity of Brookdale Company. These retirement communities account for 22.6% of the total capacity of Brookdale community.
2. Recipient communities
Brookdale's aid community provides housing for residents, and provides services for residents who need 24-hour assistance in their daily activities, as well as elderly and frail residents. The aided communities provide customers with independent single-storey houses and multi-storey houses, all of which have more than 50 beds, while smaller multi-storey or single-family houses have less than 50 beds.
In the auxiliary community, there is also a memory care community. These independent assisted living communities are designed for patients with Alzheimer's disease and other dementia patients with cognitive impairment who need nursing to ensure their quality of life. The memory nursing community has 14 to 69 beds, some of which are configured according to school standards, including independent assisted living communities.
By the end of 20 15, there were 820 assisted living communities with 53,504 rooms, accounting for 49.3% of the total community capacity of Brookdale Company. There are 9063 rooms in 95 communities participating in management services, accounting for 8.4% of the total community capacity of Brookdale Company. These auxiliary communities account for 57.7% of Brookdale's total community capacity. Among them, 57 1 Community and 14077 units provide memory care services.
3. Continuing care retirement community
CCRCS community in Brookdale is a large community, which provides various living arrangements and services to adapt to physical conditions and health conditions at all levels. Most CCRCs include self-care lifestyle, assisted lifestyle and professional nursing community services, and some communities also provide memory care (Alzheimer's care) services.
CCRCs community includes leased CCRCs and third-party CCRCS community managed and operated by the company. By the end of 20 15, Brookdale had 44 CCRCs communities with 10423 units, accounting for 9.6% of the total community capacity of Brookdale company. The company manages and operates 34 communities, with 10944 units, accounting for 10.7% of the total community capacity of Brookdale Company. These CCRCS communities account for 19.7% of the total community capacity of Brookdale Company.
As of 20 15, 12 and 3 1, the CCRCs communities in the leased part include three CCRCS communities managed by Brookdale Company,1/72 units and 17 CCRCS and 865438+.
4. Brookdale Auxiliary Services (Support Services)
Brookdale's auxiliary services currently provide family health care, treatment, education and health planning services for community residents. These projects mainly focus on health and physical health, with the aim of maintaining the independence of residents to the greatest extent.
In terms of medical services, it mainly provides physical, occupational-related, speech therapy and family health services. The services provided by family health service include professional nursing, physical therapy, occupational therapy, speech therapy, family health assistant service and necessary social services. In addition, Brookdale also provides hospice care services in some areas. Compared with other competitors, Brookdale's auxiliary services have unique advantages because of its position and rich experience in the industry.
5. Manage operational services
Some communities managed by Brookdale Company are owned by third parties or unincorporated joint ventures, but Brookdale Company enjoys ownership. According to the management operation agreement, these communities are managed, and corresponding service management fees are charged according to the services provided.
By the end of 20 15, Brookdale had provided management services for 64 communities and 27,353 houses in/kloc-0, accounting for 25.3% of the total community capacity of the company. Among them, 22 communities and 22 1 1 houses are owned by third parties; 142 plot and unit 25 142 are owned by the joint venture company. These communities constitute the above-mentioned 35 retirement communities, 95 assisted communities and 34 community rehabilitation centers.
Brookdale has become the largest pension company in America. Before 14, the profit growth rate was slow, even negative for a time. After the acquisition of Rongxiu, the profit growth rate exceeded 10%. However, the increase of income is still the primary problem of this listed company:
First, while controlling operating costs, increase the occupancy rate of the community and increase the monthly service fee of the community. Brookdale plans to maintain growth by continuously improving and optimizing community operations and strengthening the implementation of marketing. To this end, Brookdale has established a multi-level marketing system, using call center resources to balance the use of the Internet and corporate response mechanisms through national, regional and local market activities. In addition, this marketing system can also make use of brand innovation activities launched by Brookdale on 20 13 to expand marketing influence. At the same time, with the good momentum of merger and retirement, we will strive to improve the company's operating efficiency and reduce operating costs.
Second, increase the company's income through strategic capital allocation. Brookdale plans to invest some funds for the value-added improvement of existing communities, such as the reconstruction and transformation of communities, the re-planning and positioning of some communities, and maximize the advantages of each community, thus improving the attractiveness of communities and increasing the occupancy rate of communities; On the other hand, at the right time, Brookdale will selectively acquire existing operating companies, various portfolio investments, family health care institutions and elderly care communities to expand its scale. At the same time, for the old-age community currently leased and managed by Brookdale Company, mergers and acquisitions will also be considered to strengthen resource integration. The strategic focus of the acquisition is still the products that can play an important supplementary role in the company market.
Third, improve the brand influence and focus on cultivating the brand influence of Brookdale. Brookdale plans to build a highly recognized national brand, create market differentiation and enhance brand value by increasing community share and growth path. As the largest provider of old-age care services in China, the market covers the whole country, and its products and services are diversified, which gives Brookdale enough advantages to become a leader in the domestic old-age care industry and a provider of old-age care solutions. Brookdale hopes that through adjustment, whole marketing activities and brand innovation, more users will recognize the brand Brookdale and form brand loyalty, not only for users, but also for talents needed by partners and companies.
Fourth, innovative products and services, including supporting services of Brookdale. Brookdale hopes to provide new solutions for the elderly through innovative product forms and continuously meet the needs of customers. Brookdale plans to provide more new service forms for existing customers and develop new customers. Together with Brookdale's supporting services, the company can provide supporting services such as treatment, family health care, hospice care, education and corresponding health planning services. Brookdale hopes not only to provide these services in all their retirement communities, but also to extend these services to users who want to spend their old age in their own homes, so that their products and services can go out of the community and serve more people in need. They hope to occupy a place in the follow-up medical field and provide users with more comprehensive pension solutions.
Brookdale—— From the establishment of 1978 to the listing of 1997, Brookdale has completed the transformation to become the largest pension company in the United States by constantly merging other companies in the same industry, and its development model is no less than a magnificent history of industry merger. While completing its own transformation, Brookdale has also greatly promoted the development of American pension industry. Its innovative spirit and the spirit of expanding the industry model are worth learning from companies in various industries today.
Brookdale has developed to this day, and its scale and industry position are unparalleled. However, from the perspective of business strategy, its development and expansion have not stopped. After having a series of comprehensive service models in a series of industries, such as self-care pension community, auxiliary pension community, pension center and CCRC, the road of product service development has not stopped.
In the 20 15 annual report of Brookdale company, it is still proposed to increase the occupancy rate of the community and increase the monthly service fee of the community while controlling the operating cost; Increase the company's income through strategic capital allocation; Improve brand influence and focus on cultivating Brookdale's brand influence; Innovative products and services, especially the supporting services of Brookdale, and other four specific measures to promote the development of enterprises. At present, Brookdale Pension Company firmly occupies most of the American pension market with unprecedented scale and strength, and it is not easy for other pension companies to catch up with and surpass it.
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