senior living

Wow – twice in a week, accusations of ‘commercialism’.  An epiphany – occasionally I have them. The backdrop: In Incident A, a future topic I am discussing at an aging services event was (at least temporarily) classified as ‘commercial’ versus ‘educational’ because vendor executives were to be on the panel, jeopardizing the continuing education credit that attendees might get. Then, the very next day, Incident B: a proposed slide deck was critiqued by (different) organizers with the recommendation to remove slides that had many vendor logos. Why? Because it might be perceived by sponsors as commercials for those vendors – again jeopardizing continuing education credits.

Don’t see the products your constituents need? Launch a fund to get them created. Sometimes organizations become frustrated with the pace of change and decide to do something about it. One of those is Link-age in Mason, Ohio, a group purchasing organization that buys on behalf of 450 senior living communities in 39 states. The organization, led by CEO Scott Collins, is launching a $20 million ‘gray’ national fund to accelerate creation of products and services for seniors. Local investment banker, John Hopper, managing director of the new Link-age Ventures (partnered with CincyTech), rightly observes: "We haven’t bumped into anyone else in the industry doing anything similar." Says Collins: "Entrepreneurs are eager to address the market, but few understand the needs."  The investors will make money when the companies are sold – which they surely will be if they do find new and innovative ways to address, as Scott Collins indicates, the food, shelter, transportation and socialization needs of older adults -- well beyond the boomer age ranges of 48 to 66.