Senior living competitive assessment and turnaround planning
30+ facility assisted living and memory care nonprofit, mission-based organization
Facing lender pressure due to weak performance, a regional non-profit senior living provider with 30+ assisted living and memory care facilities engaged Gibbins Advisors to conduct a deep-dive review and craft a Turnaround Plan to boost occupancy, stabilize financials and restore confidence.
TEAM Ronald Winters, Clare Moylan, Mary DePietro, Stacey Swinney, Tyler Brasher
Situation Overview
A Midwestern senior care provider (AL/IL/MC) expanded rapidly through acquisitions, reaching 30+ facilities. However, occupancy stagnated while rising labor costs, staffing challenges, and weak marketing eroded profitability. By 2024, operating losses and debt service drained cash reserves, leaving the organization with limited liquidity, covenant breaches, and mounting lender pressure. The company engaged Gibbins Advisors to chart a path to long-term sustainability.
Images are for illustrative purposes only.
Summary
Sector:
Not-for-profit senior living chain
Approx. Size:
30+ facilities with over 1,000 beds
Our role:
Company Advisor
Key Results
Delivered an in-depth assessment of the business’s key strengths and development opportunities
Delivered a Turnaround Plan with key initiatives to drive volumes, increase revenue, and restore confidence to prospective residents.
Role
Gibbins Advisors was engaged as the company’s financial and operational advisor, tasked with providing an independent assessment of the business and developing a turnaround framework in collaboration with management.
Approach
Liquidity Review: Analyzed cash sources, receivables, and forecast runway to define immediate needs.
Revenue Growth: Conducted our Senior Living Competitive Assessment for underperforming facilities, including review of the target facilities and local competitors to identify gaps in service, product and pricing.
Cost Optimization: Identified savings opportunities in labor efficiency, procurement, and outsourced services.
Leadership & Portfolio Review: Evaluated management effectiveness and facility mix.
Turnaround Plan: Delivered a three-year financial model with actionable initiatives to address key problem drovers and an approach that was aligned to the organization’s mission.
Key Accomplishments
Delivered an objective assessment highlighting the organization’s strengths, weaknesses, and priority opportunities for improvement across facilities and leadership.
Developed a Turnaround Plan with actionable initiatives to increase census, strengthen revenue, and improve overall financial stability.
Obtained support of the lenders for the Turnaround Plan by providing a structured roadmap for operational and financial recovery.
Transitioned to management to lead implementation.
