HC-One Ltd. And Brookdale Senior Living Inc. Are Global Leaders In The Retirement Communities Market
5 Mar, 2020
The global retirement communities’ market is highly fragmented, with a large number of small players. The top ten players of the market constitute only 6.60% of the market. However, this is expected to change during the forecast period as majority of the players are trying to grow inorganically by acquiring smaller companies to expand their geographical outreach. HC-One Ltd. was the largest competitor with 1.87% of the market in 2018, followed by Brookdale Senior Living Inc. with 1.63%. Other major players in the market include Five Star Senior Living, Holiday Retirement, Sunrise Senior Living, Erickson Living, Affinity Living Group, Atria Senior Living Group, Aveo Group, and Covenant Retire Communities Inc.
HC-One Ltd., the largest player in the global retirement communities market, is involved in providing residential care, accommodation and nursing care services to the old population. It is also involved in providing specialized care services to elderly people with dementia. The company was established in 2011 and is headquartered in Darlington, United Kingdom. HC-One Ltd is estimated to have generated revenues of $3.74 billion for the financial year 2018 from the retirement communities’ market.
HC-One Ltd.’s growth strategy aims at expanding its business in the UK by launching new care homes. For instance, in June 2019, the company inaugurated the construction of a new 80 bed care home, in the York city of the UK, to provide residential, nursing and memory care services. This project is expected to complete by the end of 2020.
Brookdale Senior Living was the second largest company in the retirement communities’ market in 2018. It provides independent living communities, assisted living communities, memory care communities, skilled nursing home care, life care, continuing care communities and long-term care services. The company was established in 1978 and is headquartered in Tennessee, US. It currently operates around 1,150 communities and has around 80,000 associates serving about 100 thousand residents every day. Brookdale Senior Living Inc. is estimated to have generated revenues of $3.25 billion for the financial year 2018 from the retirement communities’ market, a 9.1% decrease from the previous year.
Brookdale Senior Living’s growth strategy aims to expand its operations and improve its service offerings through mergers and acquisitions. For instance, in 2014, the company merged with Emeritus Corporation, a provider of independent living, assisted living, and memory care for Alzheimer’s, and skilled nursing for seniors living in communities owned by Emeritus in the USA. The company was founded in 1993 and is headquartered in Seattle, USA.