A spokesperson for The Kenney (WSB sponsor) says it’s seeking a “sponsor” to take over its operations, and has four prospects. Here’s the announcement we just received:
The Kenney Retirement Community, located at 7125 Fauntleroy Way SW, Seattle, is in the process of seeking a new sponsor to assume operations of the retirement community.
The Kenney board of directors has been interviewing non-profit, faith-based organizations who share a similar mission of serving seniors. Covenant Retirement Communities, Mennonite Services Northwest, Wesley Homes, and a fourth (yet to be named) have indicated interest in the potential of a transaction to become sponsors, and each is evaluating the feasibility to assume operations of The Kenney later this year.
In today’s changing health care environment, affiliation with other sponsors has proven to benefit senior living providers and the residents they serve. Benefits include group purchasing programs, efficiencies in staffing and systems, and the ability to provide a broader network of services.
Last summer, an interim CEO and Ontrac Management Services were engaged by The Kenney to assist during this transition. Ed Mawe, Interim CEO, and The Kenney board of directors have been communicating with residents, families of residents and staff frequently about the sponsorship search. Communication about the sponsorship search process has been transparent with all parties, sharing discussions about the preference to find a sponsor who shares similar values with the heritage of The Kenney.
The Kenney continues to provide quality continuing care with residential apartments, assisted living, memory care and support, skilled nursing and rehabilitation. Potential sponsors have expressed their intention to continue the services and the fine tradition of care.
The Kenney marked its centennial four years ago. From 2008 through 2011, it pursued a redevelopment plan that eventually was downsized to some standalone changes including the addition of a memory-care unit, opened last year. Meantime, as for today’s announcement, we’re asking a few followup questions and will add to this story when they’re answered.
4:36 PM UPDATE: Ontrac’s Moraine Byrne has replied to our questions: No, The Kenney is “not in danger of closing. All financial obligations are being met (and it’s) operating well within budget.” She says its occupancy is also “strong.”