Sunrise Senior Living / SRZ

About Sunrise Senior Living

7902 Westpark Dr., McLean, Va. 22102
www.sunriseseniorliving.com | 703-273-7500 | Founded: 1981

Industry: Health Care | Category: Public Companies

Sunrise Senior Living had another year of growth. It began construction on 29 facilities in 2005 and acquired Greystone Communities Inc. of Irving, Tex., a developer and manager of continuing care retirement communities, and Fountains Continuum Care Inc. of Tucson, an operator and owner of senior living communities.
The company continued its overseas expansion, increasing its European development funding to $865 million, hoping to capitalize on a growing demand for senior care centers there. Sunrise opened its first two German centers in January and April. It now has seven communities in Europe, with another 16 under construction.
Sunrise said it began construction of 15 new retirement facilities in the fourth quarter of 2005, including six in Britain or Germany that are being developed in a joint venture with Pramerica Real Estate Investors.
The company fell under a cloud in the fall after a bus accident killed 23 elderly Hurricane Rita evacuees from the company's Brighton Gardens facility, a long-term care facility in Bellaire, Tex., near Houston. Sunrise had hired a charter bus that had defective brakes, an expired registration and a driver who lacked a valid license and who was ultimately charged with negligent homicide. A Sunrise spokesman said the company had hired the bus through a broker and had no reason to believe it had safety problems.

Chairman and founder: Paul J. Klaassen

2005 Financial Data

Revenues: $1,819,479,000 | Net Income: $79,742,000
Asssets: $1,328,276,000 | Earnings Per Share: $1.67
Total employees: 40,000 | Local employees: 4,695