Mission Health took over the Kansas facilities in March from Deseret Health Group, working closely with the Kansas State Department for Aging and Disability Services. On May 5, the Kansas agency took control of a separate Deseret facility, after Deseret told the state it was insolvent, according to the Wichita Business Journal.
Mission now manages a total of 32 companies, up from 13 in 2010, and has operations in six states. Mission closed two major deals in 2014, including a $40 million purchase/leaseback of the North Ridge Communities in Minneapolis and a long-term lease of three communities in Wisconsin.
The Kansas acquisition “is part of Mission Health’s plan for careful, controlled growth in senior housing facilities over the next five years,” Stuart Lindeman, president and CEO, said in a statement posted on Mission’s website.
In an interview, Crino credited Lindeman with driving growth at Mission. Lindeman previously was senior vice president of the U.S. division at Revera Inc. in Ontario, Canada. “He ran a half-billion dollar organization and we recruited him away two years ago,” Crino said. “
Crino likes the senior living sector because it is fragmented — a large industry with a lot of small operators — and “we didn’t view the standard for operating across the industry to be very high,” he said. “We didn’t think the industry was very progressive. It didn’t use technology well. It didn’t have particularly sophisticated operational or financial systems.”
Mission Health brings those types of changes.
“With scale, you can do a lot more interesting things. Stuart has helped us get to the scale where we can begin to take a leadership role,” Crino said.