In this article, we will discuss the 15 biggest nursing home companies in the US.
The nursing home market size in the US currently stands at $148.4 billion. The industry employs over 1.5 million people. The average age of residents at US nursing homes is 86 years. Some of the biggest names among the US nursing home companies include Encompass Health Corporation (NYSE:EHC), LHC Group, Inc. (NASDAQ:LHCG), and The Ensign Group, Inc. (NASDAQ:ENSG).
COVID Effects in 2022
The COVID-19 pandemic had adverse effects on the nursing home industry. The nursing home facilities were considered infection hotspots. The labor costs in the facilities increased between 8% to 18% and the cost of maintaining a high quality of care increased between 73% to 103%. The higher range in both of these metrics was for COVID-infected patients. The pandemic was responsible for over 133,000 deaths at these facilities, including residents and staff members. It was called “the 9/11 moment for nursing homes” by an NYU nursing professor, Jasmine Travers.
The latest COVID variant XBB.1.5 is now becoming the latest bane of nursing home facilities. On top of that, respiratory syncytial virus and the flu cases are rising in the winter and are proving to be a hurdle for the facilities as the move-ins slow down. J. Mark Traylor, president of Traylor-Porter Healthcare in Alabama, said:
“It couldn’t have happened at a worse time. Throw in the burnout, throw in the pay dynamics and everything else and this just puts skilled nursing in another challenge and we’ve got to figure out how to get out.”
In the United States, 22.2% of the nursing home staff is fully vaccinated while the residents’ vaccinated concentration is higher at 48.5%.
Nursing Homes Market Future Outlook
The nursing home market keeps thriving primarily due to the global aging population. According to the World Health Organization, between 2015 and 2050, the global population over 60 is expected to grow from 12% to 22% of the total population. According to Grand View Research, the long-term nursing facility market in the US was worth $175.9 billion in 2021 and is forecasted to grow to $232.5 billion by 2030 at a CAGR of 3.2%. In addition, a Research and Markets report predicts that the global nursing care facilities market is expected to grow at a CAGR of 4.8% between 2021 and 2027. The segment was worth $248.5 billion in 2020 and is expected to reach $345 billion by 2027.
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Our Methodology
We did thorough research on the nursing home and skilled nursing facilities industry in the US and choose some of the biggest companies operating in the market. We then narrowed down to the top 15 of these companies and ranked them based on their employee count. The data about the number of employees was collected from different sources and their links have been provided within this article.
Biggest Nursing Home Companies in the US
15. Benchmark Senior Living
Number of Employees: 6,043
Benchmark Senior Living is an American senior living company headquartered in Massachusetts. The company operates 63 sites across 7 states in the United States. The company’s assets under management are worth $2.5 billion.
In a recent interview, Benchmark Senior Living’s CEO, Tom Grape announced the company’s plan to expand to Alexandria, Virginia. The facility will be a 10-story high-rise with a club room, bistro, suite for wine tasting, penthouse-level cafe, and rooftop deck.
14. The Pennant Group, Inc. (NASDAQ:PNTG)
Number of Employees: 6,441
The Pennant Group, Inc. (NASDAQ:PNTG) is a medical care facility specializing in home health and hospice service, and senior living. The company manages approximately 150 communities with over 4000 senior living units across the United States.
In the second half of 2022, The Pennant Group, Inc. (NASDAQ:PNTG) made two significant acquisitions to expand its operations in the US. In August 2022, the company acquired Ardent Hospice and Palliative Care, a California-based hospice and home health provider. Later in November, The Pennant Group, Inc. (NASDAQ:PNTG) acquired Kenosha Visiting Nurse Association to further expand its territory in Wisconsin. Moreover, according to its CEO Brent Guerisoli, the company plans to continue acquisitions of high-quality home health, hospice, and senior living businesses in the future.
The Pennant Group, Inc. (NASDAQ:PNTG) is a small-cap company with a market cap of around $310.4 million and employs close to 6,500 people.
13. Trilogy Health Services
Number of Employees: 11,459
Trilogy Health Services is a Kentucky-based nursing home. The company provides memory care, assisted living, skilled nursing, and rehabilitation services. The company has close to 130 sites in the United States.
Trilogy Health Services was founded in 1997 and announced the opening of its latest nursing home facility in Ohio in October 2022. The community is expected to incur a $22 million investment and create over 200 construction jobs and 125 in-facility jobs.
12. National HealthCare Corporation (NYSE:NHC)
Number of Employees: 13,000
National HealthCare Corporation (NYSE:NHC) is an American healthcare company providing skilled nursing facilities, assisted living facilities, licensed therapy services, nutrition services, independent living facilities, home care, and hospice agencies. Furthermore, the company also operates a behavioral health hospital.
At the end of FY2021, National HealthCare Corporation (NYSE:NHC) had a net patient revenue of $965.54 million. Moreover, in the first 9 months of 2022, the company reported revenues of $776.66 million. In addition, National HealthCare Corporation (NYSE:NHC) is a dividend stock with a yield of over 4%.
In Q3 2022, Renaissance Technologies held the most prominent stake in National HealthCare Corporation (NYSE:NHC) with 502,987 shares worth $31.859 million.
11. Atria Senior Living
Number of Employees: 14,000+
Atria Senior Living is an American nursing home company that operates in 45 US states and 7 Canadian provinces. Over 39,000 people reside in the facility and are taken care of by more than 14,000 employees of the company.
In 2021, Atria Senior Living launched Glennis Solutions, a tech solutions company that provides operations management software to other senior living centers. In 2022, Atria Senior Living announced that it will combine Glennis Solutions with two other companies, Enquire and Sherpa. The combined company will provide services to over 800 customers that represent approximately 5,700 nursing homes.
10. Amedisys, Inc. (NASDAQ:AMED)
Number of Employees: 21,000
Amedisys, Inc. (NASDAQ:AMED) is a Louisiana-based medical care facilities company that employs 21,000 people. The company’s services include skilled nursing, physical therapy, home aides, and hospice services. Amedisys, Inc. (NASDAQ:AMED) owns approximately 500 facilities across 38 US states.
Amedisys, Inc. (NASDAQ:AMED) was named one of the “Best Places to Work in IT” by Foundry’s Computerworld in December 2022.
In December 2022, Amedisys, Inc. (NASDAQ:AMED) completed its joint venture with the University of Arkansas for Medical Sciences to provide home health services in Searcy and Little Rock.
9. The Evangelical Lutheran Good Samaritan Society
Number of Employees: 24000
The Evangelical Lutheran Good Samaritan Society is one of the largest nursing homes in the US and is the largest not-for-profit senior care provider in the country. It serves over 27,000 residents across 24 states. Its services include healthcare, elderly care, nursing, and rehabilitation.
Not only is The Evangelical Lutheran Good Samaritan Society one of the largest nursing homes, but it is also one of the oldest. The company celebrated its hundred years of inception in December 2022.
8. The Ensign Group, Inc. (NASDAQ:ENSG)
Number of Employees: 25,900
The Ensign Group, Inc. (NASDAQ:ENSG) is one of the biggest nursing home companies in the US. The company’s 271 healthcare operations are spread over 13 states and 26 of them are senior living institutions.
The Ensign Group, Inc. (NASDAQ:ENSG) has an aggressive approach toward acquisitions when it comes to skilled nursing and rehabilitative facilities. Recently, the holding company expanded in the states of South Carolina and California by acquiring the skilled nursing facilities (SNF) of Lila Doyle Post Acute and 20 of Sabra Health Care REIT, Inc. (NASDAQ:SBRA)’s operations. In Colorado, The Ensign Group, Inc. (NASDAQ:ENSG) took over Brighton Care Center and Malley Transitional Care Center with 108 beds and 162 beds, respectively.
The Ensign Group, Inc. (NASDAQ:ENSG) continued its streak of success in the third quarter of 2022 as it made 17 acquisitions, and growth in same-store and transitioning occupancy came in at 2.4% and 5.3%, respectively. The Ensign Group, Inc. (NASDAQ:ENSG)’s net patient revenue in 2021 was around $2.5 billion.
7. LHC Group, Inc. (NASDAQ:LHCG)
Number of Employees: 29,000
LHC Group, Inc. (NASDAQ:LHCG) is a Louisiana-based medical care facilities company. The company focuses on hospice services, healthcare innovations, and home health services. The company was founded in 1994 and has 29,000 employees.
In March 2022, UnitedHealth Group Incorporated (NYSE:UNH) announced its plans to acquire LHC Group, Inc. (NASDAQ:LHCG). The deal is expected to close in the first quarter of 2023 and is worth $5.4 billion or $170 per share. The termination date is set for March 28, 2023. As of January 6, LHC Group, Inc. (NASDAQ:LHCG) is trading at $160 per share.
LHC Group, Inc. (NASDAQ:LHCG) was also quite popular among hedge funds in the third quarter of 2022, with 38 of them holding positions in the company, compared to 28 in the previous quarter. The most significant shareholder in the third quarter was Robert Emil Zoellner’s Alpine Associates with shares worth $163.16 million.
6. Sunrise Senior Living
Number of Employees: 32,500
Sunrise Senior Living is an American senior living company headquartered in Virginia. It operates over 270 facilities in the United States and Canada. The company is one of the few that allows residents to keep a pet cat or a dog and also have their own community cats and dogs at their facilities.
Sunrise Senior Living also had operations in the UK up until 2021. The company announced its exit from the UK business in July 2021.
5. Life Care Centers of America
Number of Employees: 40,000+
Life Care Centers of America is one of the USA’s largest privately held long-term eldercare companies. The company operates in 28 states through 200 skilled nursing, rehabilitation, Alzheimer’s, and senior living campuses across the United States. Life Care Centers of America was founded in 1970 and is headquartered in Tennessee.
In 2021, the company had a net patient revenue of $1.93 billion. The company employs over 40,000 people.
4. Genesis Healthcare, Inc. (OTC:GENN)
Number of employees: 44,000
Genesis Healthcare, Inc. (OTC:GENN), along with its subsidiaries, is one of the biggest nursing home companies in the US that provide long-term and short-term care services including senior and assisted living, rehabilitation, and more. The 250 skilled nursing operations of the company are found in 22 states while affiliated operations responsible for a variety of rehabilitation services are available in 43 states throughout the US.
Since 2021, Genesis Healthcare, Inc. (OTC:GENN) has been implementing its market-focused model to gain momentum financially and serve the community better. The restructuring plans are going well as the company hired more than 1,000 people per month as of July 2022. Another reason behind operations running smoothly throughout the company is the division of departments into markets and creating leadership positions within each market.
3. Encompass Health Corporation (NYSE:EHC)
Number of Employees: 43,400
Encompass Health Corporation (NYSE:EHC) is a healthcare company that provides inpatient rehabilitation services, home health cares services, and hospice at its assisted living facilities. The company’s primary focus is on post-acute healthcare. Encompass Health Corporation (NYSE:EHC) provides its services in 36 US states and Puerto Rico, an unincorporated territory of the US.
In September 2022, Encompass Health Corporation (NYSE:EHC) announced the expansion of its Florida operations with the construction of Encompass Health Rehabilitation Hospital of Wildwood in The Villages, Florida. The rehabilitation hospital will consist of 50 beds with private patient rooms, a therapy gym, living suites, a cafeteria, a dining room, a pharmacy, and a therapy courtyard. Moreover, Encompass Health Corporation (NYSE:EHC) plans to open five hospitals in Florida over the next 3 years.
2. ProMedica Senior Care
Number of Employees: 56,000
ProMedica Senior Care is an Ohio-based senior care company with over 300 locations in the United States. The company has more than 50,000 workers and 19,000 of them have five years or more of tenure with the company. Furthermore, 51 employees have over 40 years of experience in the field, 550 have over 30 years of service, 2,600 employees have 20+ years of service, and over 10,500 have more than 10 years of service under their belt. ProMedica Senior Care is a non-profit company.
1. Brookdale Senior Living Inc. (NYSE:BKD)
Number of Employees: 58,400
Brookdale Senior Living Inc. (NYSE:BKD) is an assisted living company headquartered in Tennessee. It is one of the biggest nursing home companies with over 675 locations across 42 states. The company serves more than 60,000 residents.
Brookdale Senior Living Inc. (NYSE:BKD) reported its November occupancy at the start of December and recorded its consolidated occupancy at the end of the month as 78.1% compared to 78.4% in October. With the weightage occupancy increasing by 350 basis points YoY in November, Brookdale Senior Living Inc. (NYSE:BKD) recorded its 13th consecutive month of YoY weighted average occupancy growth.
Stephen Dubois’ Camber Capital Management was the biggest stakeholder of Brookdale Senior Living Inc. (NYSE:BKD) in the third quarter of 2022 with 16 million shares worth $68.32 million.
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Disclosure: None. 15 Biggest Nursing Home Companies in the US is originally published on Insider Monkey.
