{"id":537268,"date":"2021-09-13T08:03:14","date_gmt":"2021-09-13T12:03:14","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/five-star-senior-living-announces-progress-on-its-strategic-plan-and-business-updates\/"},"modified":"2021-09-13T08:03:14","modified_gmt":"2021-09-13T12:03:14","slug":"five-star-senior-living-announces-progress-on-its-strategic-plan-and-business-updates","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/five-star-senior-living-announces-progress-on-its-strategic-plan-and-business-updates\/","title":{"rendered":"Five Star Senior Living Announces Progress on Its Strategic Plan and Business Updates"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwmarginl1 { margin-left: 30px }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Five Star Senior Living Announces Progress on Its Strategic Plan and Business Updates<\/b><\/p>\n<p class=\"bwalignc\"><i>320 Basis Point Increase in August over July Month End Occupancy in Five Star\u2019s Owned Communities<\/i><\/p>\n<p class=\"bwalignc\"><i>100 Basis Point Increase in August over July Month End Occupancy in Communities Five Star Will Continue to Manage<\/i><\/p>\n<p class=\"bwalignc\"><i>Completed 62 of 108 Planned Community Transitions<\/i><\/p>\n<p class=\"bwalignc\"><i>All Community and Clinic Employees Now in Compliance with COVID-19 Vaccine Requirement<\/i><\/p>\n<p>NEWTON, Mass.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.fivestarseniorliving.com%2F&amp;esheet=52489882&amp;newsitemid=20210913005102&amp;lan=en-US&amp;anchor=Five+Star+Senior+Living+Inc.+%28Nasdaq%3A+FVE%29&amp;index=1&amp;md5=ee3caff157937222d5a1827cbebc67e0\">Five Star Senior Living Inc. (Nasdaq: FVE)<\/a>, or Five Star, today announced progress on its strategic plan and provided certain business updates. August month end occupancy in Five Star\u2019s owned communities was 73.7%, an increase of 320 basis points compared to July month end occupancy. August average occupancy in Five Star\u2019s owned communities was 70.0%, an increase of 80 basis points compared to the July average occupancy. In the 120 communities Five Star will continue to manage for Diversified Healthcare Trust (Nasdaq: DHC), or the retained communities, August month end occupancy was 74.7%, an increase of approximately 100 basis points compared to the July month end occupancy. August average occupancy in the retained communities was 73.4%, an increase of 50 basis points compared to July average occupancy.\n<\/p>\n<p>\nFVE also provided an update on the repositioning of its senior living management services as part of its strategic plan announced in April 2021, including the transition of 108 smaller senior living communities to other operators. FVE has now completed 62 of 108 planned transitions to other third-party operators and plans to fully complete the transition of the 108 communities by year end.\n<\/p>\n<p>\nAdditionally, FVE reported that all community and clinic employees are now in compliance with its previously announced requirement that those employees who work in or visit its communities or Ageility clinics as part of their responsibilities be fully vaccinated against COVID-19, with only 4.3% of employees voluntarily terminating their employment.\n<\/p>\n<p class=\"bwmarginl1\">\n\u201cWe have made progress on our three-pronged strategy to \u2018Reposition, Evolve and Diversify\u2019 by transitioning these 62 communities and repositioning our senior living management services to focus on larger, higher-performing independent living, assisted living and memory care communities,\u201d said Katherine Potter, President and Chief Executive Officer. \u201cGoing forward, we will build on our strengths operating larger senior living communities and stand-alone active adult and independent living communities while continuing to evolve our choice-based, financially flexible rehabilitation and wellness services offerings to meet the changing needs and preferences of older adults. Finally, I thank our team members for their unwavering commitment to the health and well-being of our residents and clients and providing them with an exceptional experience.\u201d\n<\/p>\n<p><b>About Five Star Senior Living Inc.:<\/b><\/p>\n<p>\nFVE is a provider of senior living management and rehabilitation and wellness services to over 20,000 older adults. Five Star is the fifth largest senior living operator in the United States and operates active adult, independent and assisted living communities. Additionally, FVE&#8217;s rehabilitation and wellness services segment includes Ageility Physical Therapy Solutions\u2122, or Ageility, a division of FVE, which provides rehabilitation and wellness services within FVE communities as well as to external customers. FVE is headquartered in Newton, Massachusetts.\n<\/p>\n<p><b>Forward Looking Statements <\/b><\/p>\n<p>\nThis press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Whenever Five Star Senior Living Inc. uses words such as \u201cbelieve\u201d, \u201cexpect\u201d, \u201canticipate\u201d, \u201cintend\u201d, \u201cplan\u201d, \u201cestimate\u201d, &#8220;will&#8221;, \u201cmay\u201d and negatives or derivatives of these or similar expressions, Five Star is making forward-looking statements, which include statements about Five Star\u2019s strategic plan, the steps expected to be taken in connection with Five Star\u2019s new strategic plan and the timing related to such steps, as well as Five Star\u2019s expectations for the operation and performance of the business following implementation of such strategic plan. These forward-looking statements are based upon Five Star\u2019s present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. Actual results may differ materially from those contained in or implied by Five Star\u2019s forward-looking statements. For example, Five Star may not be able to implement each of its strategic initiatives in a timely manner or at all, the costs of such initiatives may be more than it expects, it may not realize the benefits it anticipates from the new strategic plan, and it may not be able to achieve its objectives following implementation of such strategic plan, including partially offsetting the revenue loss from the communities it intends to transition with expense reductions to right-size operations, on the anticipated timeline or at all. Forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond Five Star&#8217;s control.\n<\/p>\n<p>\nThe information contained in Five Star\u2019s filings with the Securities and Exchange Commission, or SEC, including under \u201cRisk Factors\u201d in Five Star\u2019s periodic reports, or incorporated therein, identifies other important factors that could cause Five Star\u2019s actual results to differ materially from those stated in or implied by Five Star\u2019s forward-looking statements. Five Star\u2019s filings with the SEC are available on the SEC\u2019s website at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sec.gov&amp;esheet=52489882&amp;newsitemid=20210913005102&amp;lan=en-US&amp;anchor=www.sec.gov&amp;index=2&amp;md5=14a9547a142305ab7ad124e8549752e6\">www.sec.gov<\/a>.\n<\/p>\n<p>\nYou should not place undue reliance upon forward-looking statements.\n<\/p>\n<p>\nExcept as required by law, Five Star does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210913005102r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210913005102\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210913005102\/en\/<\/a><\/span><\/p>\n<p>\nMichael Kodesch, Director, Investor Relations<br \/>\n<br \/>(617) 796-8245<br \/>\n<br \/><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.fivestarseniorliving.com%2F&amp;esheet=52489882&amp;newsitemid=20210913005102&amp;lan=en-US&amp;anchor=www.fivestarseniorliving.com&amp;index=3&amp;md5=6f3e451c5bc58b0e5c812baf09139797\">www.fivestarseniorliving.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America Massachusetts<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Nursing Health Consumer Hospitals Seniors Managed Care General Health<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210913005102\/en\/445830\/3\/5STAR_LOGO_01_12_2014_VERTICAL_CMYK.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Five Star Senior Living Announces Progress on Its Strategic Plan and Business Updates 320 Basis Point Increase in August over July Month End Occupancy in Five Star\u2019s Owned Communities 100 Basis Point Increase in August over July Month End Occupancy in Communities Five Star Will Continue to Manage Completed 62 of 108 Planned Community Transitions All Community and Clinic Employees Now in Compliance with COVID-19 Vaccine Requirement NEWTON, Mass.&#8211;(BUSINESS WIRE)&#8211;Five Star Senior Living Inc. (Nasdaq: FVE), or Five Star, today announced progress on its strategic plan and provided certain business updates. August month end occupancy in Five Star\u2019s owned communities was 73.7%, an increase of 320 basis points compared to July month end occupancy. August average occupancy in Five Star\u2019s &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/five-star-senior-living-announces-progress-on-its-strategic-plan-and-business-updates\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Five Star Senior Living Announces Progress on Its Strategic Plan and Business Updates&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-537268","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Five Star Senior Living Announces Progress on Its Strategic Plan and Business Updates - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/five-star-senior-living-announces-progress-on-its-strategic-plan-and-business-updates\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Five Star Senior Living Announces Progress on Its Strategic Plan and Business Updates - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Five Star Senior Living Announces Progress on Its Strategic Plan and Business Updates 320 Basis Point Increase in August over July Month End Occupancy in Five Star\u2019s Owned Communities 100 Basis Point Increase in August over July Month End Occupancy in Communities Five Star Will Continue to Manage Completed 62 of 108 Planned Community Transitions All Community and Clinic Employees Now in Compliance with COVID-19 Vaccine Requirement NEWTON, Mass.&#8211;(BUSINESS WIRE)&#8211;Five Star Senior Living Inc. (Nasdaq: FVE), or Five Star, today announced progress on its strategic plan and provided certain business updates. August month end occupancy in Five Star\u2019s owned communities was 73.7%, an increase of 320 basis points compared to July month end occupancy. 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(Nasdaq: FVE), or Five Star, today announced progress on its strategic plan and provided certain business updates. August month end occupancy in Five Star\u2019s owned communities was 73.7%, an increase of 320 basis points compared to July month end occupancy. 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