Draft:LCS (Senior Living)
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LCS, Life Care Services, is an owner, manager and developer of retirement communities in the United States. It provides independent living, assisted living, memory and skilled nursing care. LCS was founded in 1971.[2] [3] [4]
| Industry | Retirement community owner, manager, developer |
|---|---|
| Founded | 1971 |
| Headquarters | |
Key people | Joel Nelson, CEO Diane Bridgewater, EVP, CFO Chris Bird, COO[1] |
| Services | Independent living, assisted living, memory and skilled nursing care |
| Owners | Redwood Capital Investments LLC McCarthy Capital |
| Website | www |
Company history
LCS was founded in 1971.[2]
In 2005, LCS was a privately held company owned entirely by its employees.[5]
In 2010, McCarthy Capital had an ownership stake.[6]
In 2022, Redwood Capital Investments added an ownership stake in LCS.[7] [8]
In 2024, a bankruptcy court allowed LCS to purchase the bankrupt retirement community of The Harborside in Port Washington, New York.[9]
Properties and services
LCS owns, manages, and operates campus-style retirement communities that provide independent living, assisted living, memory and skilled nursing care. In 2024, LCS was the third largest senior living community.[10]
Awards and recognition
In 2022, the American Seniors Housing Association (ASHA) ranked LCS as 13th largest senior housing owner and 3rd largest senior housing operator in the ASHA 50, a listing of the largest owners and operators of senior housing communities in the United States.[11] In 2023, J. D. Power ranked LCS as the top-ranked companies for resident satisfaction.[12]
References
- ^ "LCS Company". LCS. Retrieved November 12, 2023.
- ^ 2.0 2.1 "The LCS Family of Companies". LCS. Retrieved November 12, 2023.
- ^ "Life Care Services Corporation". Retrieved November 12, 2023.
- ^ "Life Care Services: All 129 Properties". Seniorly. Retrieved November 12, 2023.
- ^ Neis, Arthur (October 31, 2005). "RE: FASB Staff Position Regarding Refundable Entrance Fees - Balance Sheet Classification" (PDF). Financial Accounting Standards Board. Retrieved November 12, 2023.
- ^ "McCarthy Capital – Growing businesses in partnership with management". www.mccarthycapital.com. Retrieved November 12, 2023.
- ^ Mullaney, Tim (January 3, 2022). "Senior Living Giant LCS Recapitalizes With Redwood, McCarthy, Employee Owners". Senior Housing News. Retrieved April 27, 2023.
- ^ "LCS Completes Planned Recapitalization". LCS. January 3, 2022. Retrieved May 28, 2023.
- ^ Duffy, Brandon (January 2, 2024). "Sale of Port Washington's The Harborside OK'd by court - Manhasset Times". The Island 360. Retrieved September 16, 2024.
- ^ Ahmed, Ghazal (2024). "16 Largest Senior Living Companies in the USA in 2024". www.msn.com. MSN. Retrieved September 16, 2024.
- ^ "ASHA, Seniors Housing Business Release 2022 List of Largest Owners, Operators" (PDF). American Seniors Housing Association. Retrieved April 28, 2023.
- ^ Thomas, Seychelle (December 27, 2023). "Senior Living Costs Spike, But What About the Value?". Kiplinger.com. Kiplinger. Retrieved September 16, 2024.
External links
Category:Retirement in the United States Category:Companies based in Des Moines, Iowa Category:Companies established in 1971 Category:Elderly care Category:Housing for the elderly in the United States
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