Creates 12th largest nonprofit senior living
organization in the country
ST.
LOUIS, March 28, 2024 /PRNewswire/ -- Lutheran
Senior Services (LSS), a mission-driven, nonprofit network that
specializes in housing, care and supportive services for older
adults, and Diakon, a Lutheran organization that offers a continuum
of senior lifestyle and healthcare services, as well as a range of
services for children, families, and adult individuals of all ages,
have signed an agreement to bring Daikon Senior Living
operations and four life plan communities under LSS.
This agreement will result in LSS becoming
the 12th largest nonprofit senior living organization in the
country.
"We are two financially healthy, not-for-profit organizations
coming together strategically in the interest of better serving
older adults," said Adam Marles, LSS
President and Chief Executive Officer. "Dynamics in senior living
are changing rapidly and provider organizations must adapt and
evolve to ensure the best for those we serve. This step does that
while also creating additional scale that will enable Lutheran
Senior Services to compete for talent, add specialty positions,
create career opportunities for our team, increase our
purchasing/negotiating power, and so much more."
This agreement will result in LSS becoming the 12th largest
nonprofit senior living organization in the country with annual
revenues of nearly $350 million
and offering 12 life plan communities, one assisted living
community, and nine senior affordable housing communities, as well
as home-based services in three states (Missouri, Illinois and Pennsylvania).
"This was a strategic decision made by both our organizations,"
said Scott Habecker, Diakon
President and Chief Executive Officer. "This creates a larger
senior living business with an even greater competitive advantage,
while also allowing Diakon to focus our resources on the growth of
our diversified portfolio of affordable senior housing and children
and family services."
The agreement joins the 2,800+ LSS team members and 4,000
residents with Diakon Senior Living's more than 700 team members
and 1,300 residents. Combined, LSS will serve nearly 15,000 older
adults through its life plan communities, assisted living
memory support community, affordable housing communities, and home
and community-based services.
"We're excited to welcome the Diakon Senior Living family into
LSS and to expand our geographic footprint into Pennsylvania," adds Marles. "We were fortunate
to have found a like-minded partner in Diakon. They are a strong
operator in senior living with scale in their region, a shared
emphasis on quality care, a similar people-centric culture, and
strong financial footing."
The transaction is pending regulatory approvals with an
anticipated closing sometime this summer.
About LSS
Lutheran Senior Services (LSS) is a mission-driven, nonprofit
network that specializes in housing, care, and supportive services
for older adults 62+. With 18 locations in Missouri and Illinois, LSS serves more than 13,000 seniors
a year through options that include Senior Living Communities
offering all levels of living, Affordable Housing for those with
limited incomes, and Home & Community Based Services. LSS
builds upon more than 160 years of excellence in living out its
Christian mission of Older Adults Living Life to the Fullest. Learn
more at lssliving.org.
About Diakon
Tracing its roots to 1868, Diakon serves nearly 70,000 people
of all faiths and ages in Pennsylvania and Maryland through adoption and foster care
services, at-risk youth programs, counseling services, continuing
care retirement communities and community services for older
adults. The nonprofit charitable organization's services are
provided by 1,000 caring and skilled team members at multiple
community service centers and senior living communities.
Additionally, Diakon administers the Pennsylvania Statewide
Adoption and Permanency Network (SWAN), which focuses on finding
permanent adoptive homes for foster children. Diakon is affiliated
with the Evangelical Lutheran Church in America through Lutheran
Services in America, one of the largest nonprofit service networks
in the United States. Learn more
at diakon.org.
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SOURCE Lutheran Senior Services