Florida Senior Care Provider Rebrands as Arboreta Healthcare After Acquiring Trillium

Assisted 4 Living (OTC: ASSF) marked the next phase in its evolution as a multi-faceted health care company, with its rebranding to Arboreta Healthcare announced on Monday.

Arboreta, parent company of Arboreta Health & Rehabilitation skilled nursing and long-term care centers and Arboreta Assisted Living Communities, has accomplished a “striking turnaround” over the past year, the company said in a news release.

Now, Arboreta provides skilled nursing, rehabilitation, assisted living and independent living services at 31 facilities across Iowa, Nebraska, Texas, Florida and Georgia. Most recently, the company further deepened its Texas footprint by acquiring three Grace Care Centers in the state.

The Sarasota-based company purchased fellow Florida provider Trillium Healthcare for an undisclosed sum last August. Trillium had operational insight into the skilled nursing industry for more than a decade but started divesting itself of assets in June 2019 —shuttering three nursing homes in Nebraska while CareTrust REIT (Nasdaq: CTRE) terminated its lease with Trillium in August of the same year.

“Arboreta” is the plural of arboretum, a place where trees, shrubs and plants are grown and protected, the company said. The name Arboreta is designed to reflect protective and preserved care to residents and commitment to its employees, according to the company.

“This is an exciting time for our company, as we continue to weather the challenges of the pandemic and are positioning ourselves as a leader in the post-acute area of healthcare,” Louis Collier, CEO of Arboreta Healthcare, said in a statement.

Skilled Nursing News did not hear back from Arboreta after reaching out for further comment.

SNF facility census has improved from 62 to 165, according to the statement, while its overall facility census increased from 937 to 1,215.

Arboreta’s revenues are on track to grow from $78 million in 2021 to $118 million by the end of this year. Its expenses have reduced close to $10 million via new contracts with preferred pricing and a more streamlined approach.

Arboreta has made significant operational improvements, Collier said, by redefining regional leadership and carefully selecting a senior team and focusing on developing facility leaders.

Collier is at the helm, with Diane Harden as CFO, Dale Poe as COO and Sandra Bowers serving as chief nursing officer.

Collier was appointed CEO in August 2021. He previously served as CEO for UVA Encompass Health Rehabilitation Hospital in Charlottesville, Va. and vice president of post-acute services with Reliant PACS in Auburn, Mass.

Among other operational improvements, Arboreta began developing a behavioral health program, integrated pharmacy services in its facilities and introduced a recruitment and retention plan to boost staffing.

The company also created a financial services and operational platform, hiring accountants and other support staff, and started implementing a medical management platform in more than half of its facilities.

“We will continue to refine our processes as we are now positioned to look for opportunities to grow,” added Collier.

The company also acquired Banyan Pediatric Care just months prior to its Trillium purchase last year, placing Michelle Flynn as president of the subsidiary.