Top News Stories in Senior Living Management - June 2015

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HCP, Brookdale Complete $847 Million Acquisition

HCP, Inc. and Brookdale Senior Living Inc. completed their acquisition of 35 private pay senior housing communities in a deal worth $847 million. Brookdale has been managing the portfolio since 2011 and will continue to do so under the new arrangement.

Source: Zacks. HCP & Brookdale Buy Senior Housing Portfolio for $847M

America’s Biggest Senior Living Community Still Expanding

Florida’s The Villages is the largest retirement community (and the fastest-growing city) in the United States, and a new partnership with Titan and KR seeks to make it even bigger. There are currently just over 1,000 senior care beds, including independent living, assisted living, memory care, and specialized nursing, with another 2,000 planned under the Titan-KR deal. Brookdale Senior Living also recently opened a new assisted living and memory care facility at The Villages.

Source: Senior Housing News. Titan Deal Will Make America’s Largest Senior Community Even Bigger

Obama Administration Proposes Changes to Overtime Pay Law

Currently, only workers who earn less than $23,660 must receive overtime pay when they work more than 40 hours a week. Under a new proposal by the Obama administration, that threshold would increase to $50,440 in 2016. The proposal would affect nearly 5 million workers in the United States.

Source: The White House. FACT SHEET: Middle Class Economics Rewarding Hard Work by Restoring Overtime Pay

Healthcare, Long-Term Care Job Growth Expected to Be Hot Through 2019

A new study by CareerBuilder predicts that jobs in healthcare and long-term care will continue to be in high demand through 2016. Among the 20 industries expected to add at least 10,000 jobs and experience at least 15% employment growth, five are related to healthcare and long-term care. Those five are: Specialty Hospitals; Home Health Care Services; Continuing Care Retirement Communities; Offices of Physical, Occupational and Speech Therapists, and Audiologists: and Medical Laboratories.

Source: CareerBuilder. CareerBuilder Reveals Hot Industries for Job Growth Over the Next Five Years

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