Lee Equity Partners and Coastwood Senior Housing Partners Announce Agreement to Invest in Discovery Senior Living
Summary
The recapitalization will fund Discoverys continued expansion and operational platform enhancements as it positions itself to meet the evolving needs of all industry stakeholders and take advantage of the myriad of opportunities in the maturing industry.This partnership will usher in the next stage in Discoverys journey to expand its proprietary National and Regional Brand Management structure, enhance its Experiential Living Operating Programs, as well as continue the evolution of its state-of-the-art business processes focused on delivering a modernized platform producing more transparent and predictable outcomes. "This strategic recapitalization purposefully combines the strengths and successful experiences of three companies and the resultant innovation-focused efforts will allow the acceleration of Discoverys ability to execute its vision of creating a scaled company that outperforms the marketplace, addresses some of the legacy industry paradigms and of course focuses on delivering a customized and holistic resident and team member experience," said Richard J. Hutchinson, CEO, Discovery Senior Living. We are excited to combine our capabilities to lead the industry with improved quality of care, technology innovation, and data-driven outcomes," said Dan Decker, Chairman, Coastwood Senior Housing Partners, LLC. With almost three decades of experience, the award-winning management group has been developing, building, marketing, and operating upscale senior-living communities across the United States. By leveraging its innovative "Experiential Living" philosophy across a growing portfolio of more than 15,000 existing homes or homes under development, Discovery Senior Living is a recognized industry leader for lifestyle customization and, today, ranks among the 10 largest U.S. senior living operators and providers.Lee Equity Partners, LLC is a New York-based private equity firm that partners with successful management teams to build companies with strong growth potential.