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Capital Senior Living Corporation (NYSE: CSU) has successfully completed the first two rounds of COVID-19 vaccinations across all its communities. As of now, 85% of residents are fully vaccinated, with 90% receiving at least one dose. Furthermore, 69% of communities have completed third-round clinics. New COVID-19 cases have significantly declined by over 99%, with only one active case reported. The company emphasizes safety, allowing visitation for fully vaccinated residents while adhering to health guidelines.
Capital Senior Living Corporation (NYSE: CSU) will host virtual investor meetings at the Barclay's Global Healthcare Conference from March 9-11, 2021. Kimberly S. Lody, President and CEO, along with Brandon Ribar, COO, will provide key updates during their presentation on March 11, 2021, from 9:10 to 9:35 a.m. Eastern Time. Participants can access the livestream and replay on the Capital Senior Living website until April 30, 2021. The company operates 81 senior living communities across 20 states, serving nearly 7,000 residents with a focus on compassionate care.
Capital Senior Living Corporation (NYSE: CSU) has successfully completed first-round COVID-19 vaccinations at all its communities, with 89% of residents and 42% of staff vaccinated. The company has also conducted second-round clinics at 68% of its locations, achieving full vaccination for 75% of residents and 34% of staff. The vaccine rollout is expected to continue, with nearly all second-round clinics completed by March and all three rounds by April. Demand for senior housing services is also showing signs of improvement, indicated by increased leads and tours.
Capital Senior Living Corporation (CSU) has launched a new memory care program, Magnolia Trails, aimed at providing individualized care for residents with memory issues. Developed alongside dementia care specialist Rachel Wonderlin, the program engages the five senses to create a stimulating environment tailored to each resident's needs. Initial pilot implementations showed a rise in occupancy from 69% to 100% and a 5% increase in average monthly rent. This initiative aligns with the company's SING strategic plan, preparing for future growth across its 37 communities.
Capital Senior Living Corporation (CSU) reports a successful rollout of COVID-19 vaccinations across its communities, with 56 clinics completed and over 3,000 residents vaccinated. Approximately 80% participation was noted in communities where clinics occurred. The company plans to conduct 32 more clinics by mid-February, aiming to offer all residents and staff the complete vaccination series by the end of April. Partnering with CVS Health, Capital Senior Living emphasizes education and community support for vaccination efforts.
Capital Senior Living announces the appointment of Jay Reed as Vice President of Information Technology. Reed, with a robust background in IT operations, will lead the company's IT strategy, enhancing network development and cybersecurity. His previous roles include impactful positions at Aimbridge Hospitality and CIO Suite, where he utilized technology to drive efficiency and improve revenue. This strategic hire aligns with Capital Senior Living's focus on operational efficiency and growth as they enter the third year of their strategic plan.
Capital Senior Living Corporation (NYSE: CSU) announced it will host virtual investor meetings during Stifel's Seniors Housing & Healthcare Real Estate Conference on January 19, 2021. Management will include President Kimberly S. Lody and COO Brandon Ribar, who will also participate in the operator panel titled 'Making Sense Out of Chaos'. The company's strategic plan, 'SING', aims to stabilize and grow its operations. Capital Senior Living operates 100 communities with nearly 9,000 residents across 22 states, emphasizing resident-centric services.
Capital Senior Living Corporation (CSU) has successfully exited all Triple-Net lease agreements as of December 31, 2020, significantly enhancing its financial standing. The company achieved approximately $22 million in annual cash flow improvement and reduced lease-related liabilities by around $264.4 million. A new management services business has been launched, allowing the management of seven formerly leased communities, which positions the firm for growth. Following the completion of community transitions by Q2 2021, CSU will manage 68 communities, aiming to better serve the growing senior market.
Capital Senior Living Corporation (NYSE: CSU) announced that all its 104 operating communities are confirmed to be part of the first priority phase for receiving the COVID-19 vaccine, as per the U.S. Department of Health and Human Services. Residents and staff in long-term care facilities will receive the vaccine at no cost, through a partnership with CVS Health. With an average occupancy of 76.5% in November, the company continues to prioritize resident safety with enhanced COVID-19 protocols.
Capital Senior Living Corporation (NYSE: CSU) announced a reverse stock split of its common stock at a ratio of 1-for-15, approved by its Board of Directors. This move aims to increase the market price per share and ensure compliance with the NYSE minimum price listing rule. The split effective date is set for December 11, 2020, with trading on a split-adjusted basis commencing on December 14, 2020. The number of outstanding shares will reduce from approximately 31.3 million to 2.08 million, while authorized shares will drop from 65 million to 4.33 million.
