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Illuminate hc12/8/2023 ![]() “We’ve come to realize that’s a fairly superficial approach,” Schayer said. The improvements themselves will vary on a building-by-building basis, but he expressed the need to think beyond “the prevailing strategy of making as much like five-star hotels” as possible. In the meantime, the company is planning a $20 million improvement project for the facilities, with the funds coming from private investors more than $15 million of that amount is lined up, and Schayer said the rest will be available as needed over the course of the next 18 months. Staff will be the primary users of the wearable devices, he said, though there are some ideas in the works for using them with patients. Illuminate is developing a proprietary logistics system that incorporates the use of wearable devices, though Schayer declined to provide details on the types of devices until the system is finalized. Technology is a particular focus for the young firm. Any services that face the families and patients will be known as SKLD, at least in Michigan, Schayer said, while anything that is “internal-facing” or has to do with culture or technology will be Illuminate. To that end, Illuminate is using the brand SKLD, pronounced “skilled,” to brand the assets that it manages. With the deal, Illuminate, which has about 40 employees, will inherit another 1,500 from the facilities, serving as the new management company for the properties.īut the company is seeking to differentiate itself by making more distinct delineations between patient and family needs and the needs of employees. The nine-SNF ManorCare portfolio is at roughly 75% occupancy, he told SNN. The company’s growth over the next 18 months is more uncertain, Schayer said, though the goal is to continue to grow and add more than those two by the end of this year. In addition, it’s looking to close on two more facilities, also located in western Michigan, this month. ![]() The nine Michigan facilities, which Illuminate jointly owns with a private equity firm based on the East Coast, were not the only ones the company considered acquiring, but they were the first ones deemed to be a good fit, according to Schayer. It was founded about 18 months ago, Schayer said, which gave management time to do considerable due diligence on potential transactions. In this environment, Illuminate - which is headquartered in the Chicago suburb of Evanston, Ill.
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