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Brookdale Senior Living Appoints Home-Based Care Leader Nick Stengle as New CEO
Brookdale Senior Living (NYSE: BKD), the nation’s largest senior living provider, has named Nick Stengle as its new Chief Executive Officer, effective October 6. This appointment signals a potential strategic shift toward integrated care models as the company navigates evolving industry demographics.
A New Chapter for Brookdale
The leadership change follows the departure of former CEO Cindy Baier, who stepped down from her role and resigned from the company’s board in April. Stengle’s arrival is viewed by many as a move to capitalize on the growing demand for in-home care solutions and a more holistic approach to senior healthcare.
“Brookdale has a strong foundation in place with compelling long-term growth drivers, and I believe the company is well positioned to extend its leadership position in the industry as we enter the next chapter and capitalize on attractive industry demographics,” Stengle said in a statement.”I look forward to building on the company’s recent success and to capturing the significant opportunities ahead to drive shareholder value.”
Industry Veteran at the Helm
Stengle brings extensive experience in both senior care and hospitality to his new role.Most recently, he served as president and chief operating officer of Gentiva Health Services, a position he held since 2022. Atlanta-based Gentiva provides a thorough suite of home health, hospice, and palliative care services across 38 states, employing over 15,000 individuals. Notably,Humana Inc. (NYSE: HUM) holds a 40% minority stake in Gentiva,possibly opening doors for future collaborations.
Brookdale’s Evolving strategy
While currently focused on facility-based care, Brookdale was once a significant player in the home-based care sector. The company divested this segment in 2021, selling it to HCA Healthcare (NYSE: HCA). However, company leadership has consistently emphasized the importance of an integrated continuum of care.
“Many of our residents are dealing with multiple chronic conditions, and we are committed to creating a setting in which health care needs are met in a home-like habitat,” a senior official stated in 2022.
Stengle’s background suggests a renewed focus on expanding care options beyond traditional senior living facilities. The company has previously partnered with LHC Group,selling 47 Brookdale Health Services assets to them in 2021 as part of a joint venture with HCA Healthcare.
The Rise of At-Home Senior Care
Brookdale’s potential pivot aligns with a broader industry trend. More than half of the largest nonprofit senior living organizations in the U.S. now offer some form of care within the home, according to data from LZ 200. Several organizations have actively launched or expanded their at-home care services in recent years.
Such as, in 2021, bickford Senior Living collaborated with the HomeCare Advocacy Network to introduce a dedicated home-based care service. Together, American Baptist Homes of the Midwest partnered with the same network to launch its own home care business.
