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Sunrise Senior Living to Exit UK Market After Strategic Review

Sunrise Senior Living has announced plans to transfer management of all of its care homes in the United Kingdom to two different local operators.

Signature Senior Lifestyle and Care UK are set to take over operations of the McLean, Virginia-based senior living provider’s 46 communities operating under the Sunrise and Gracewell Healthcare brands by the end of the year.

The move, which followed a strategic review, is part of the operator’s new focus on its North American markets, which have “tremendous potential for growth,” according to Sunrise CEO Jack Callison Jr., who came to Sunrise from Chicago-based Enlivant earlier this year.

“Capitalizing on these exciting opportunities requires an intense focus on our top strategic priorities, and we are doubling down on our collective efforts to champion quality of life for seniors across the United States and Canada where we believe strong market demand exists for highly personalized care and services,” Callison said in a press release “We will drive value through our robust ground-up development pipeline, the redevelopment of existing communities, the continued lease up of our newly opened communities, and the strategic acquisition of new management contracts.”

A representative for Sunrise Senior Living was not immediately available to comment on the announcement.

As of April 1, Sunrise operated 331 communities in the United States, Canada and the UK. Mississauga, Ontario-based Revera owns a majority stake in Sunrise, and Toledo, Ohio-based Welltower is a 34% owner in the company.

While Sunrise is leaving the UK, Welltower is still active a capital provider to companies located there. For example, the real estate investment trust and an investment group led by real estate and private equity investor Safanad announced in April a $750 million recapitalization of HC-One, the largest home care operator in the UK.

The post Sunrise Senior Living to Exit UK Market After Strategic Review appeared first on Senior Housing News.

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