Home Health Business Quarterly: Via Schroder, Sunrise expands assisted living to homes
Sunrise Assisted Living of McLean, VA, has expanded its joint venture agreement with Schroder Ventures Life Sciences (SLVS), a health care-focused venture capital firm, for At Home Assisted Living by Sunrise. SVLS will provide Sunrise with $5 million for a second round of funding to expand Sunrise’s At Home program, which provides assisted living services to seniors in their own homes in the Washington, DC, metropolitan market, to the additional markets of Philadelphia, Boston, northern New Jersey, and Long Island, NY.
The joint venture originated in October 2000 when SVLS provided an initial $5 million in capital funding that allowed Sunrise to establish the At Home program’s infrastructure and conduct a pilot for the program and its services. At Home services include personal emergency response systems, home care, and homemaker visits, telephonic and video monitoring, medication dispension and reminders, vital signs monitoring and other home support services. The pilot was introduced in the Washington, DC, metropolitan market in February 2001 and approximately 400 customers have received services through the program to date.