Emeritus Senior Living

Emeritus Corporation
Public
Traded as NYSE: BKD
Industry Senior living
Founded 1993 (Renton, Washington)
Headquarters Seattle, Washington
Website www.emeritus.com

Emeritus Corporation doing business as Emeritus Senior Living was a provider of independent living, assisted living, Alzheimer's/memory care, and skilled nursing for seniors living in Emeritus communities throughout the United States. The company was founded in 1993, and was acquired by Brookdale Senior Living (the largest company in the industry at the time [1]) in July 2014 after a $23 million punitive damages award against it in a civil lawsuit in 2013.

Emeritus specialized in assisted living services for seniors who need help with daily activities such as bathing, dressing, meals and medications management. Most communities also provided expert care for Alzheimer's and memory care residents, and offered respite stays for seniors who need short-term stays. Emeritus had locations in 47 states, with several facilities within each state.[2]

Facilities

Company revenues were $1.57 billion in 2012.[3] As a result of the merger with Brookdale, Emeritus now manages 1,100 facilities in 46 states.[4]

History

  • 1993: Emeritus was founded by Daniel Baty, Ray Brandstrom and Frank Ruffo in Renton, Washington
  • 1995: Emeritus goes public on the American Stock Exchange
  • 2007: Emeritus merges with Summerville Senior Living. Summerville CEO Granger Cobb is appointed Co-CEO of Emeritus [5]
  • 2008: Emeritus moves to the New York Stock Exchange.[6]
  • 2009: Emeritus launches Home Visits
  • 2010: Emeritus launches Brain Health Lifestyle Program and appoints nationally recognized neuropsychologist Dr. Paul Nussbaum as Director of Brain Health [7]
  • 2010: Emeritus acquires Sunwest Properties through a Joint Venture with Blackstone and Columbia Pacific Advisors. Through this venture, Emeritus becomes largest assisted living provider in the industry.[8]
  • 2011: Granger Cobb appointed as CEO of Emeritus [9]
  • 2013: Emeritus and Merrill Gardens announce Emeritus will take over operations of 38 Merrill Gardens senior living communities in eight states.[10]
  • 2014: Emeritus Corporation taken over by Brookdale Senior Living.[11]

Controversy

An episode of Frontline which aired on July 30, 2013 documented the alleged neglect and physical abuses perpetrated on patients by Emeritus.[12] In one civil lawsuit, Joan Boice et al v. Emeritus Corporation, a Sacramento, California jury found Emeritus liable for neglect which apparently resulted in the 2009 death of a patient; the jury assessed the company $23 million in punitive damages.[13] Following the broadcast, Emeritus established a website to dispute the allegations.[14]

See also

References

  1. ↑ ALFA Largest Providers List
  2. ↑ "Directory of Retirement, Senior Living and Assisted Living Communities". Emeritus Senior Living. Retrieved 4/2/13. Check date values in: |accessdate= (help)
  3. ↑ "$23M verdict stings Seattle-based assisted-living giant Emeritus". Seattle Times. 6 April 2013. Retrieved 31 July 2013.
  4. ↑ "$2.8-billion Brookdale-Emeritus merger closes". Nashville Business Journal. 31 July 2014. Retrieved 31 July 2014.
  5. ↑ Emeritus & Summerville merger article
  6. ↑ Emeritus moves to NYSE article
  7. ↑ Emeritus Senior Living Launches Commitment to Brain Health Lifestyle™ - SmartBrief
  8. ↑
  9. ↑ Emeritus Announces Appointment of Granger Cobb as Chief Executive Officer | Reuters
  10. ↑ Martinez, Amy, June 27, 2013 http://seattletimes.com/html/businesstechnology/2021284299_emeritusdealxml.html, Seattle Times retrieved 6 August 2013
  11. ↑ Emeritus-Brookdale merger site retrieved 20 March 2014 Archived August 8, 2014, at the Wayback Machine.
  12. ↑ "Life and Death in Assisted Living". Frontline. Retrieved 31 July 2013.
  13. ↑ Grunbaum, Rani (April 6, 2013). "$23M verdict stings Seattle-based assisted-living giant Emeritus". Seattle Times. Retrieved 3 August 2013.
  14. ↑ Mullaney, Tim, 5 August 2013 http://www.mcknights.com/emeritus-will-respond-vigorously-to-sensationalized-frontline-documentary-company-leaders-say/article/305998/ McKnight's Long-Term Care News & Assisted Living

Coordinates: 47°37′05″N 122°21′29″W / 47.618014°N 122.357977°W / 47.618014; -122.357977

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