Emeritus Corporation Prospectus
Growth of a Market
According to the US Census Bureau, the elderly population is growing faster than any other group in the United States. Americans over the age of 65 number 39 million people-more than twice their number in 1960. It is predicted that by the year 2030, the senior population in America will again double to 65 million, or 21% of the population. As remarkable as this may seem, perhaps even more astounding is the fact that the senior housing industry is nowhere near ready to care for the burgeoning population in the years to come.
Birth of an Industry
The graying of the American population is due in part to the number of aging baby-boomers, as well as advances in t medical technology and a focus on healthier lifestyles. Nevertheless, in spite of better overall health, as a person's age increases, so does the likelihood of a decrease in ability to handle the common tasks associated with day-to-day living. A study conducted by the US Department of Health and Human Services, showed that 58% of Americans over the age of 65 need assistance with the activities of daily living such as dressing, grooming, bathing, the preparation of meals, shopping and housework.
In response, the Assisted Living industry has begun to blossom. Bridging the gap between Congregate Care and Skilled Nursing Facilities, Assisted Living combines a residential quality of life with supportive services that respond to the aging process for those seniors who are free of chronic illness.
The Mission and Philosophy of Emeritus Corporation
Our mission is to provide the finest residential living environment and caring services possible, while keeping in mind the economic constraints faced by seniors dependent upon fixed incomes. In pursuit of that mission, four essential philosophies combine to produce the quality of life that is the foundation of Emeritus Corporation.
Respect
We believe in having an honest respect for the privacy and individuality of our residents. With this in mind, we constantly work to perfect our services by catering to our residents' personal needs and desires.
Community
Each of our properties is called a community, a sense which we encourage to be cultivated among staff and residents and as a whole company.
Independence
We help our residents to enhance the quality of their own lives by enabling them to enjoy and maximum level of independence possible.
Teamwork
Because ours is a team effort involving staff, residents, family and friends alike, each must have a sincere belief that what they have to contribute is vitally important to our success.
The Embodiment of the Emeritus Philosophy
The hallmark of our operational philosophy is the Emeritus Corporation approach to providing Assisted Living services. FlexAssist is a uniquely packaged Assisted Living Program designed to accurately identify the changing needs of our residents and to effectively target a cost-effective plan to meet them.
A Company Positioned for Growth
Emeritus Corporation is a growing company. Since our funding in 1993, an important part of our growth strategy has been the acquisition of existing operations. Year of experience, careful research and unmatched credibility in the capital market give Emeritus Corporation a distinct advantage over other providers. As long as attractive opportunities to acquire new properties exist in the marketplace, Emeritus Corporation will continue to pursue them.
In addition to acquisitions, Emeritus Corporation will grow through developments and new construction. As a result of a symbiotic relationship with Holiday Retirement Corporation, the largest single provider of independent retirement housing in America, we have been able to identify proven markets across the nation in which to build Assisted Living Communities in the coming months and years.
Elements of Architectural Design
In our new developments, our philosophy translates into residential warmth and regional flavor. Our prototype is comprised of fifty to one hundred private studio, alcove and one-bedroom apartments. Each is equipped with an emergency call system, kitchenette and private bath; all are designed to be easily accessible to the frail elderly. The architectural features of our new developments include peaked roof-lines, vaulted ceilings, and open common areas that maximize the use of natural light. Other standard features include comfortable lunge areas, a library, activity and exercise areas, a beauty salon and an elegant main dining room complemented by a grand piano and floor to ceiling windows.
