Erickson Living

Erickson Living is an owner, manager and developer of retirement communities in the United States. It provides independent living, assisted living, memory and skilled nursing care, managing 20 campus-style retirement communities in 11 states. Headquartered in Catonsville, Maryland, it employs 14,000 people for 24,000 residents as of 2017.[1]

Erickson Living
IndustryRetirement community owner, manager, developer
Founded1983
Headquarters
Catonsville, Maryland
Key people
R. Alan Butler, CEO
Debra B. Doyle, COO
Todd A. Matthiesen, CFO
ServicesIndependent living, assisted living, memory and skilled nursing care
ParentRedwood Capital Investments LLC
Websitewww.ericksonliving.com

Company history

Erickson Living was founded in 1983 by John C. Erickson as Erickson Retirement Communities.[2] The first location was a conversion of a Baltimore seminary in Catonsville, Maryland.[3] By 2009, Erickson operated a billion-dollar worth of properties in states from Massachusetts to Texas.[4]

Erickson Living filed for Chapter 11 in 2009.[5] The majority of that company's assets were purchased by Redwood Capital Investments LLC for $365 million, and a new Erickson Living company was created as a subsidiary of Redwood Capital Investments LLC.[6]

In 2017, Erickson invested $47.5 million to expand its original Charlestown campus.[7]

Properties and services

Erickson Living owns, manages, and operates campus-style retirement communities that provide independent living, assisted living, memory and skilled nursing care.[8] Residents pay a fee an upfront deposit to secure an apartment home and a single monthly fee to cover most living expenses. Residents pay only for services they want or need[9] and when a resident moves out or dies, a percentage of the fees are returned to them or their heirs.[2] As of 2018, Erickson had 20 managed communities in eleven states.[8]

Awards and recognition

In 2015, Erickson Living was ranked as one of the top 10 senior living providers in the Assisted Living Federation of America’s (ALFA) annual ranking of senior living providers by resident capacity. In that same listing, Erickson Living ranked in the top five of independent living providers.[10] In 2017, the American Seniors Housing Association (ASHA) ranked Erickson Living in the ASHA 50, a listing of the largest owners and operators of senior housing communities in the United States.[11]

References
  1. Bowers, Lois A (5 September 2017). "Senior living companies launch Harvey relief efforts as Irma looms -". McKnight's Senior Living.
  2. Semerad, Tony (24 September 2018). "Unlike anything in Utah, this huge new retirement community offers a 'life plan'". The Salt Lake Tribune.
  3. Marbella, Jean (7 June 2013). "Charlestown Ages Gracefully". The Baltimore Sun.
  4. Hancock, Jay (21 October 2009). "Erickson's smart bets soured along with nation's economy". The Baltimore Sun.
  5. Hilzenrath, David S. (24 December 2009). "Erickson Retirement Communities to be sold to Redwood Capital". The Washington Post.
  6. Alyssa, Gerace (8 April 2012). "On the Record: Adam Kane, SVP of Corporate Affairs at Erickson Living - Senior Housing News". Senior Housing News. Retrieved 2017-09-06.
  7. Simmons, Melody (1 August 2017). "Erickson Living launches $47.5M expansion of Charlestown campus". Baltimore Business Journal.
  8. Arcieri, Katie (9 November 2018). "Erickson hopes to move forward with 78-acre retirement community near George Mason". Washington Business Journals.
  9. The SAGE Handbook of Social Gerontology. SAGE. 2010. p. 488. ISBN 9781446248393. Erickson Retirement.
  10. Study, Emily (26 March 2015). "The Top-10 Largest Senior Living Providers in 2015 - Senior Housing News". Senior Housing News. Retrieved 2018-01-11.
  11. "ASHA, Seniors Housing Business Release 2017 List of Largest Owners, Operators". Seniors Housing Business. Retrieved 2018-01-11.
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