A former home-based care executive has taken the helm at the nation’s largest senior living provider. Brookdale Senior Living (NYSE: BKD) has appointed Nick Stengle as its new CEO, effective Oct. 6. “Brookdale has a strong foundation in place with compelling long-term growth drivers, and I believe the company is well positioned to extend its […] The post Brookdale Taps Gentiva Exec As New CEO appeared first on Home Health Care News.
A former home-based care executive has taken the helm at the nation’s largest senior living provider. Brookdale Senior Living (NYSE: BKD) has appointed Nick Stengle as its new CEO, effective Oct. 6.
“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.”
The announcement comes after former CEO Cindy Baier stepped down from the role and resigned from the company’s board of directors in April.
Stengle has a range of senior care and hospitality experience under his belt. He most recently served as president and chief operating officer of Gentiva, a role he has held since 2022.
Atlanta-based Gentiva Health Services provides home health, hospice and palliative services across 38 states with more than 15,000 employees. Humana Inc. (NYSE: HUM) owns a 40% minority stake in Gentiva.
Brookdale was once a major player in the home-based care space. However, the company sold this segment of its business to HCA Healthcare (NYSE: HCA) in 2021.
Brookdale’s leadership has been vocal about the future of health care being a more 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 environment,” Baier told Senior Housing News in 2022.
Having Stengle as CEO could position the company for future at-home care partnerships and opportunities.
Brookdale has previously worked with hospice, home care and facility-based care provider the LHC Group. The senior living company sold 47 Brookdale Health Services assets to LHC Group in 2021 from its joint venture with HCA Healthcare.
In several capacities, senior living operators are already operating in the home to some capacity.
More than half of the U.S.’s largest nonprofit senior living organizations offer some form of care in the home, according to LZ 200 data.
In 2021, Bickford Senior Living collaborated with the HomeCare Advocacy Network to launch a home-based care service segment.
That same year, American Baptist Homes of the Midwest rolled out a home care business in partnership with HomeCare Advocacy Network.
HomeCare Advocacy Network has established itself as a resource for senior living operators looking to enter the home-based care space. In 2023, the company’s survey found that 95% of respondents were interested in senior living communities that offer home-based care as part of their services.
The post Brookdale Taps Gentiva Exec As New CEO appeared first on Home Health Care News.
