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GE Capital Bullish on Assisted Living Growth Next Year
Written by Jason Oliva
Financial executives primarily in the senior housing and care industries see assisted living as a leading area for growth in the next year, according to a recent survey by GE Capital, Healthcare Financial Services (HFS).
Of the 100 financial executives surveyed by GE Capital HFS, 62% said assisted living will be a significant area for growth in the coming year, compared to 41% who cited memory care and 13% who sided with skilled nursing.
The survey also reinforced the improving sentiments of the senior housing and care industries, as 71% of respondents said they expect their business performance to improve in the next 12 months.
“Industry executives are confident despite ongoing concerns around rising interest rates and reimbursement pressures,” said James Seymour, senior managing director of GE Capital HFS’s real estate financing team. “We’re optimistic about the senior housing and care market and see many areas of opportunity for customers.”
The outcome of the healthcare debate in Washington will also play a role in how the industry approaches growth over the next year, Seymour added.
“As these executives look to secure financing for growth and other needs, it’s critical that they work with a financial partner who has a keen understanding for the nuances within the senior housing and care industry, and has the flexibility to support them through ongoing changes,” Seymour said. “We will continue to provide both capital and expertise to businesses across the sector who demonstrate strong fundamentals and a proven track record of adapting to change.”
To date, GE Capital Healthcare Financial Services has provided more than $60 billion in financing to companies in over 40 healthcare sub-sectors, including senior housing, hospitals, medical offices, outpatient services, pharmaceuticals and medical devices.