Investors have selected almost all possible reopening transactions. But as the elderly living industry recovers from the particularly severe pandemic blow, there are new opportunities.
Nursing homes and related facilities were not only the early epicenters of the Covid-19 outbreak. It gave prospects a clear reason not to send relatives. The industry also suffered an economic downturn from the pandemic. The demand for services for the elderly is economically sensitive, especially after long-term financial turmoil, as residents and their families often have to come up with their own money. -Long-term care insurance company.
Brookdale Senior Living is a publicly traded company that operates nearly 700 senior living facilities and other senior living communities in 42 states across the United States, and is certainly no exception. Brookdale occupancy dropped from about 82% before the pandemic to 69.4% earlier this year. The hit to the top line was coupled with Covid-19 related costs such as personal protective equipment and additional staff charges. At the bottom of the crisis, Brookdale shares fell by more than 75%.
However, thanks to the rapid vaccine deployment, Brookdale’s photographs are significantly brighter today. “We felt like we were moving heaven and earth to make this happen,” CEO Lucinda “Cindy” Baier said in an interview.
Efforts included, for example, ensuring resident priority status in both federal and state vaccine deployments and partnering with pharmacies to provide shots. Approximately 93% of residents receive the vaccine, and Covid-19 cases at the Brookdale facility have decreased by 97% from their peak. And while occupancy is well below pre-pandemic levels, it has steadily improved over the past four months to 71.2%.
Senior living stock, a renewal play that was overlooked
Source link Senior living stock, a renewal play that was overlooked