The National Investment Center for Seniors Housing & Care (NIC) announced March 11 that it has acquired VisionLTC, a North Carolina-based data analytics platform serving the senior care industry. Together, they are creating a new company called NIC MAP Vision, which will be a for-profit affiliate of not-for-profit NIC and will be majority owned by NIC, with the VisonLTC investors owning the remainder.
NIC MAP Vision will be led by VisionLTC’s CEO Arick Morton, while Brian Jurutka will remain as CEO of NIC. The two organizations are complementary, as NIC MAP’s product deals with the supply side of seniors housing while VisionLTC has dealt more with the demand side, especially local market dynamics. Customers will not only get data on what is being built and where, but also who is moving in and where they are coming from, among other data points. Measuring healthcare outcomes will be part of the future of the combined organizations as well as the impact living in a seniors housing community has on Medicare spending.
All NIC MAP and VisionLTC employees have been invited to become NIC MAP Vision employees. In addition to Jurutka, the trio that most of us see and know will remain with NIC. This includes Chuck Harry, Beth Mace and Bill Kauffman, among others, and they will continue in their existing roles. The NIC mission will remain unchanged but will also be focusing on the middle market and possibly the relatively new Active Adult market as a senior living product category.
And…the in-person Fall conference is coming back after the pandemic forced 2020’s Fall conference to go virtual. Dealmakers and others will be happy to once again congregate in person (hopefully vaccinated), which will surely be a boost to the M&A market. Let’s just say the industry can’t wait to get together in person again.
Ascento Capital, LLC and CS Capital Advisors, LLC served as financial advisors to NIC and Nixon Peabody LLP served as legal counsel.