Lutheran Senior Services and Diakon Enter Into Senior Living Agreement

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Mar 28, 2024, 09:58 ET

Creates 12th largest nonprofit senior living organization in the country

ST. LOUIS, March 28, 2024 /PRNewswire/ -- Lutheran Senior Services (LSS), a mission-driven, nonprofit network that specializes in housing, care and supportive services for older adults, and Diakon, a Lutheran organization that offers a continuum of senior lifestyle and healthcare services, as well as a range of services for children, families, and adult individuals of all ages, have signed an agreement to bring Daikon Senior Living operations and four life plan communities under LSS.

"We are two financially healthy, not-for-profit organizations coming together strategically in the interest of better serving older adults," said Adam Marles, LSS President and Chief Executive Officer. "Dynamics in senior living are changing rapidly and provider organizations must adapt and evolve to ensure the best for those we serve. This step does that while also creating additional scale that will enable Lutheran Senior Services to compete for talent, add specialty positions, create career opportunities for our team, increase our purchasing/negotiating power, and so much more."

This agreement will result in LSS becoming the 12th largest nonprofit senior living organization in the country with annual revenues of nearly $350 million and offering 12 life plan communities, one assisted living community, and nine senior affordable housing communities, as well as home-based services in three states (Missouri, Illinois and Pennsylvania).

"This was a strategic decision made by both our organizations," said Scott Habecker, Diakon President and Chief Executive Officer. "This creates a larger senior living business with an even greater competitive advantage, while also allowing Diakon to focus our resources on the growth of our diversified portfolio of affordable senior housing and children and family services."

The agreement joins the 2,800+ LSS team members and 4,000 residents with Diakon Senior Living's more than 700 team members and 1,300 residents. Combined, LSS will serve nearly 15,000 older adults through its life plan communities, assisted living memory support community, affordable housing communities, and home and community-based services.

"We're excited to welcome the Diakon Senior Living family into LSS and to expand our geographic footprint into Pennsylvania," adds Marles. "We were fortunate to have found a like-minded partner in Diakon. They are a strong operator in senior living with scale in their region, a shared emphasis on quality care, a similar people-centric culture, and strong financial footing."

The transaction is pending regulatory approvals with an anticipated closing sometime this summer.

About LSS

Lutheran Senior Services (LSS) is a mission-driven, nonprofit network that specializes in housing, care, and supportive services for older adults 62+. With 18 locations in Missouri and Illinois, LSS serves more than 13,000 seniors a year through options that include Senior Living Communities offering all levels of living, Affordable Housing for those with limited incomes, and Home & Community Based Services. LSS builds upon more than 160 years of excellence in living out its Christian mission of Older Adults Living Life to the Fullest. Learn more at lssliving.org.

About Diakon

Tracing its roots to 1868, Diakon serves nearly 70,000 people of all faiths and ages in Pennsylvania and Maryland through adoption and foster care services, at-risk youth programs, counseling services, continuing care retirement communities and community services for older adults. The nonprofit charitable organization's services are provided by 1,000 caring and skilled team members at multiple community service centers and senior living communities. Additionally, Diakon administers the Pennsylvania Statewide Adoption and Permanency Network (SWAN), which focuses on finding permanent adoptive homes for foster children. Diakon is affiliated with the Evangelical Lutheran Church in America through Lutheran Services in America, one of the largest nonprofit service networks in the United States. Learn more at diakon.org.

SOURCE Lutheran Senior Services