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Brookdale Senior Living's CEO Presents At Bank Of America Merrill Lynch 2012 Health Care Conference (Transcript)

Operational standpoint, the first quarter we produced the $0.5 million or $0.48 CFFO per share, did see an occupancy improvement of 60 basis points over the prior year. And the same community revenue grew by 1.6% despite the Medicare cuts, we experienced.

You know, we are about 7 to 8 months into the integration of the Horizon Bay acquisition, which was the acquisition of the ninth largest senior housing manager in the company in terms of bringing our another 16,000 units under management. And we’ll talk a little bit more about the Program Max and the traction initiatives that we are undergoing there.

When you look at Brookdale Senior Living and appreciate the platform that we have and I guess we’re operating 35 states, over 67,000 residents, so 47,000 or 48,000 associates. But we have very strong concentration in markets that are very attractive for the long-term, you know, senior markets. And that some of those markets were the markets that were maybe hit a little bit harder during the deep recession but long-term, our markets that are going to service very well.

As Kevin mentioned, we do operate across the spectrum and we are the only operator who operates at scale across the continuum of products within the senior living field from retirement centers to free-standing assisted living memory care to rental CCRCs, entry fee CCRCs. We do not operate freestanding nursing homes. All the healthcare components are within a continuum of care setting.

On the left hand side, those – the mix of the unit type and our consolidated financials 30% is retirement centers, the 46% of the freestanding memory care and freestanding assisted living is reported under our assisted living segment. And then the CCRCs are split close to half and half between the rental CCRCs and the entry fee CCRCs.

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