In an attempt to combine their respective resources, Vivage Senior Living and Beecan Health Colorado have agreed to merge.
The newly formed entity, Vivage-Beecan, will own 42 skilled nursing communities, with almost 3,600 licensed beds, across Colorado.
Independently-owned, Lakewood, Colo.-based Vivage Senior Living operates communities for seniors and those with disabilities in Colorado and Wyoming. Glendale, Calif.-based Beecan Health services skilled nursing and assisted living communities in California, New Mexico and Colorado.
Post-merger, Vivage-Beecan will deliver a continuum of care including post-acute, ventilator, long-term, memory care and behavioral health care needs.
“Most of our facilities are on the [Interstate 25] corridor, whereas they have a lot of communities that are rural communities,” Jay Moskowitz, CEO of Vivage Senior Living, told Multi-Housing News. “This will give Vivage and Beecan Health a statewide representation. It’s not just Denver or Fort Collins, but throughout the state. That allows us to deliver programs that give residents greater choice and access.”
Prior to the merger, Vivage operated one site where the company handled training and licensing. Following the merger, the combined company will have four locations around the state to provide training, education and licensing: Fort Collins, Grand Junction, Pueblo and Denver, according to Moskowitz. Moreover, the company expects to benefit from economies of scale by purchasing for roughly double the previous 2,000 residents.
Being able to train and license greater numbers of staff is a crucial factor at a time when lack of available workers has resulted in the closure of many facilities.
More than 400,000 workers have left the industry since the start of the pandemic, Moskowitz said. “The government has to recognize that,” he added. “Without increased reimbursement, we can’t attract the people to provide the care needed. It’s not just nurses, it’s housekeeping, it’s dietary, laundry. We can’t find staff in general.”
Earlier this month, industry veterans Bryan Lockard and Brian Chandler, co-heads of JLL’s Valuation Advisor Seniors Housing sector, weighed in on why the seniors housing sector continues to see increasing demand.
