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Eclipse Senior Living Closure Shows Covid is Casting Long Shadow Over Industry

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The impending closure of Eclipse Senior Living and the transition of its 90 communities to eight other operators is the latest upheaval to the industry, after nearly 20 months of pandemic-related disruption.

Lake Oswego, Oregon-based Eclipse’s closure is obviously bad news, with 171 employees losing their jobs and shares of its real estate investment trust partner Ventas (NYSE: VTR) falling sharply. 

My hope and belief is that Eclipse’s corporate workers will readily find other opportunities in senior living, given providers’ pressing need for talent. I also think the hit to Ventas will be short-lived, given that the transitions resolve uncertainty around the portfolio and new operators could realize upside.

In terms of larger implications and lessons, I’m drawing a few takeaways from the situation, including:

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The post Eclipse Senior Living Closure Shows Covid is Casting Long Shadow Over Industry appeared first on Senior Housing News.

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