LCS, one of the largest senior living operators in the country, has entered into a strategic merger agreement with Vi, known for operating a portfolio of luxury life plan communities.
The combination of the companies will add Vi’s 10 communities, more than 3,000 employees and 4,000 residents to the LCS portfolio, according to a press release issued today.
Depending on regulatory approvals, the merger is expected to close in mid-2026, with both companies continuing to operate independently until that point, according to the release.
LCS CEO Chris Bird said Vi’s “scale, reputation and commitment to quality perfectly complement LCS’s legacy of leadership and service,” which will position LCS as the “premier owner and operator in the senior living industry.”
“More importantly, both organizations share a deep-rooted dedication to integrity, hospitality, and resident-centered care. These shared values will continue to guide us as we create even more exceptional communities for residents to proudly call home,” Bird said in the release.
Both Des Moines, Iowa-based LCS and Chicago-based Vi report strong occupancy performance, with their independent living segments currently sitting over 95%.
The merger will bring together two storied organizations within the senior living sector. Vi’s history traces back to 1987, when Penny Pritzker – a member of the family who started the Hyatt hotel chain who later would serve as U.S. Secretary of Commerce – founded Classic Residence by Hyatt. The concept was to incorporate Hyatt-inspired hospitality in senior living. The company would eventually be rebranded as Vi.
The history of LCS dates back to 1971, when the company officially launched after founder Fred Weitz had started developing senior living communities and saw the growing demand. LCS grew to include five businesses under the parent company: LCS, Life Care Services, LCS Development, LCS Real Estate and Care Purchasing Services. As of just last week, all five merged under the LCS title.
“As ‘one LCS’ we are positioned to lead with greater clarity, deliver greater value, and shape the future of senior living as we have for decades – with confidence and purpose,” Bird said at the time.
LCS is currently the third largest operator in the country and has only continued to grow since the release of the 2025 Argentum 150 list, at which time the portfolio encompassed 136 communities and totaled 33,174 units. Most recently, LCS assumed management operations of The Oaks at Bartlett in Bartlett, Illinois, leading to a rename and shifting from an entrance fee to pure rental model.
The company has also been focusing on continued developments and expansions, with residents reported moving into its Clarendale West End luxury senior living community in Nashville, Tennessee in late July following its completion. Additionally, LCS invested $90 million in expanding Cypress Glen in Greenville, North Carolina, which added 57 independent living residences and new amenities, including an auditorium, expo kitchen, wine bar and remodeled common areas.
Meanwhile, upon the release of the Argentum 150 list, Vi was ranked as the 50th largest operator with its 10 communities totaling 3,650 units, the majority of which are independent living.
Earlier this year, Vi announced its intentions to work on expanding its communities. In May, the operator announced a major expansion for its Vi at Highlands Ranch community, growing its care center by 50% to better serve assisted living, memory care and skilled nursing residents to include care services for non-continuing care retirement community residents, a first for the community. In practice, it allows non-Vi at Highlands Ranch residents to have access to clinical services.
The company in 2024 also completed a $170 million redevelopment of its care center in Naples, Florida, which 64 new independent living units and as of the beginning of 2025 were 98% committed to new residents.
Following the merger, LCS will “continue its legacy” of owning and operating premier life plan communities. However, the company also plans to continue serving not-for-profit and for-profit life plan and rental communities, according to the release.
“We believe that combining the talent, experience and expertise of the Vi and LCS teams will position us for future growth while providing new opportunities for our employees and the highest level of service and care to our residents,” said Vi President Gary Smith.
Additional information regarding the merger will be revealed at a later date, according to the release.
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