Homewood, IL -- (ReleaseWire) -- 05/09/2007 -- Offering independent and assisted living, skilled nursing and Alzheimer’s care, Franciscan Communities was recently ranked as the 6th fastest growing senior health and housing system in the nation in 2005 by Ziegler Capital Markets Group, which monitors the senior living industry. This ranking comes against the nation’s largest multi-state senior service systems.
With the addition of 209 units in 2005, Franciscan Communities experienced a more than 9 percent aggregate growth, which is calculated by dividing the units added over the time period by the original number of units at the beginning of the time period. Also, from the time period of 1990 to 2005, Franciscan Communities was ranked as the 7th fastest growing multi-state system in the country.
Stephen J. Bardoczi, senior vice president of growth and development for the Franciscan Sisters of Chicago Service Corporation (FSCSC), said the direction of the organization is in response to a senior population that is on the rise. According to the U.S. Department of Health and Human Services’ Administration on Aging, the older population will more than double to about 71.5 million by the year 2030.
“Our new developments and possible future projects will better position us to handle the demands of a growing senior population,” Bardoczi said. “Also, our growth means more seniors can experience the fullness of life because they will benefit from our approach to providing care and service that has the mission and values of the Franciscan Sisters of Chicago serving as its foundation.”
Leonard A. Wychocki, president and CEO for FSCSC, said the growth of the organization is in response to the changing landscape of senior living with more people moving into continuing care retirement communities seeking security and desiring suitable options to support their lifestyle and retirement goals.
“As older adults continue to move into senior living communities, our industry will need to be flexible to meet the diverse needs of this large population,”
Wychocki said. “We are confident our portfolio of services, coupled with our commitment to hospitality and the Sister’s mission, will enable us to remain flexible in meeting people’s needs in a very competitive marketplace.”
The Franciscan Sisters of Chicago were established in 1894 when Josephine Dudzik – later known as Mother Mary Theresa – a young Polish immigrant, came to Chicago and was moved to action by the great need she saw among the city’s aged, infirm and poor. Franciscan Communities is a division of FSCSC, which is sponsored by the Franciscan Sisters of Chicago, and currently operates 15 senior living communities in Indiana, Kentucky, Texas, Ohio and Illinois. Franciscan Communities also provides home and community-based health services in Indiana and a shelter for women and their children who are survivors of domestic violence in Indiana.
Contact: Kevin Rose - (708) 647-3184