ANNAPOLIS, Md., and RALEIGH, N.C. — The National Investment Center for Seniors Housing & Care (NIC) has acquired Raleigh-based VisionLTC, a data analytics platform serving the seniors hosuing industry.
Together, Annapolis-based NIC and VisionLTC are creating a new company called NIC MAP Vision. The new service will integrate the NIC MAP Data Service with VisionLTC’s data for investors, owners and operators.
VisionLTC’s chief executive officer Arick R. Morton will lead the new company.
“NIC MAP Vision is the culmination of nearly two years of strategic planning by NIC’s board, which comprises leaders from across the senior living and senior care continuum,” says Kurt Read, managing director at RSF Partners and chair of NIC’s Board of Directors. “We’ve seen today’s opportunities require more — and more complex — data to guide solutions that benefit seniors, including market and property data, as well as information on health status and healthcare utilization.”
The new company will help stakeholders understand deeper parts of their businesses, according to NIC — for example, the impact that living in a seniors housing property or community has on Medicare spending; health and healthcare outcomes; when a market becomes saturated; and ways to successfully increase access and choice for people in the underserved middle-income market.
“As the COVID-19 pandemic has made clear, investors, owners and operators need holistic approach to data to understand market dynamics, including health and well-being metrics,” says Brian Jurutka, NIC’s president and chief executive officer. “The impending influx of baby boomers into multifamily housing and senior living options in the years ahead makes bringing together seniors housing data discussing supply, demand and healthcare even more relevant and essential for the ultimate benefit of America’s seniors.”
Ascento Capital, LLC and CS Capital Advisors, LLC are serving as financial advisors to NIC for the acquisition. Nixon Peabody LLP is serving as legal counsel to NIC.
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