LCS
| ISIN | 🆔 |
|---|---|
| Industry | Retirement community owner, manager, developer |
| Founded 📆 | 1971 |
| Founder 👔 | |
| Headquarters 🏙️ | , |
Area served 🗺️ | |
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 |
| Members | |
Number of employees | |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
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]
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]
New York denies bankruptcy court application to acquire Harborside[10]
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.[11]
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.[12] In 2023, J. D. Power ranked LCS as the top-ranked companies for resident satisfaction.[13]
References
- ↑ "LCS Company". LCS. Retrieved 12 November 2023.
- ↑ 2.0 2.1 "The LCS Family of Companies". LCS. Retrieved 12 November 2023.
- ↑ "Life Care Services Corporation". Retrieved 12 November 2023.
- ↑ "Life Care Services: All 129 Properties". Seniorly. Retrieved 12 November 2023.
- ↑ Neis, Arthur (31 October 2005). "RE: FASB Staff Position Regarding Refundable Entrance Fees - Balance Sheet Classification" (PDF). Financial Accounting Standards Board. Retrieved 12 November 2023.
- ↑ "McCarthy Capital – Growing businesses in partnership with management". www.mccarthycapital.com. Retrieved 12 November 2023.
- ↑ Mullaney, Tim (3 January 2022). "Senior Living Giant LCS Recapitalizes With Redwood, McCarthy, Employee Owners". Senior Housing News. Retrieved 27 April 2023.
- ↑ "LCS Completes Planned Recapitalization". LCS. 3 January 2022. Retrieved 28 May 2023.
- ↑ Duffy, Brandon (2 January 2024). "Sale of Port Washington's The Harborside OK'd by court - Manhasset Times". The Island 360. Retrieved 16 September 2024.
- ↑ "New York State Denies Sale of Bankrupt Retirement Home Harborside; The New York State Department of Health rejected a court-authorized buyer, a Life Care Services Communities affiliate, as the new owner". www.proquest.com. WSJ Pro. Bankruptcy. 10 October 2024. ProQuest 3114574038. Retrieved 30 March 2025.
New York officials denied a bankruptcy-court-authorized buyer's application to acquire the Harborside on Long Island, upending the sale and again leaving hundreds of residents at the three-time-bankrupt retirement community at risk of losing their homes.
- ↑ Ahmed, Ghazal (2024). "16 Largest Senior Living Companies in the USA in 2024". www.msn.com. MSN. Retrieved 16 September 2024.
- ↑ "ASHA, Seniors Housing Business Release 2022 List of Largest Owners, Operators" (PDF). American Seniors Housing Association. Retrieved 2023-04-28.
- ↑ Thomas, Seychelle (27 December 2023). "Senior Living Costs Spike, But What About the Value?". Kiplinger.com. Kiplinger. Retrieved 16 September 2024.
External links
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