Integral Senior Living Management and Discovery Senior Living, two of the largest seniors housing operators, are combining to form the fifth largest management company in the country. The merger is happening via an investment in ISL by funds advised by Lee Equity Partners and Coastwood Senior Housing Partners, two specialized investment firms that had previously recapitalized Discovery. The recapitalization of both companies should create synergies in systems and platforms between the sister companies, which will manage approximately 27,000 senior living units, combined, with a presence in 36 states nationwide.
ISL President and CEO Collette Gray will keep her current title as ISL President and CEO, while Discovery CEO Richard Hutchinson will now lead the combined parent company. Amy Sitzman, Ryan Chase, Giancarlo Riso and Kevin Lukehart of Blueprint Healthcare Real Estate Advisors served as exclusive advisor to ISL on the recapitalization.
