UPDATE: HealthStream, Brookdale Partnership
HealthStream, Inc. (NASDAQ: HSTM), a leading provider of learning, talent management, and research solutions for the healthcare industry, today announced that Brookdale Senior Living Inc. selected HealthStream's solutions to continue to develop their workforce of approximately 50,000 associates and meet their compliance training requirements. Through the five-year agreement, HealthStream's Learning Center, Compliance Solution for long term care organizations, and Competency Center will be used by Brookdale, enterprise-wide. HealthStream and Brookdale will also co-develop and introduce to the market new courseware that targets the needs of the senior living workforce.
HealthStream's solutions will help ensure that Brookdale's associates remain highly skilled and competent in the care delivered to the growing senior population. According to U.S. Census data, the number of individuals age 75 and older in the U.S. is expected to grow by 1.1 million by 2015. As the largest provider of senior housing in the U.S., Brookdale's approximately 50,000 skilled associates serve the needs of seniors through independent living, assisted living, memory care, skilled nursing and home health services. They provide services in 650 communities in 36 states with a capacity to serve approximately 67,000 residents.
“Through our agreement with HealthStream, we are investing in the continued development of our associates who are continuously fulfilling our mission to enrich the lives of our residents and their families,” said Glenn Maul, Chief People Officer, Brookdale Senior Living Inc. “We look forward to working with HealthStream to implement their solutions and partner with them to develop learning tools that will benefit the senior living industry.”
Together, Brookdale and HealthStream plan to co-develop new courseware for the expanding senior care market. By joining the largest provider of senior living services with the largest provider of learning and talent management solutions in healthcare, a unique opportunity is created to innovate and produce quality courseware for the senior care workforce. Newly developed courseware resulting from this partnership will be offered exclusively through HealthStream to the senior care—and more generally—the post-acute care markets.
“As we recently announced HealthStream's plan to begin offering our learning and talent management solutions to the post-acute care market, we are delighted to have a company as progressive as Brookdale join HealthStream's network of healthcare organization customers,” said Robert A. Frist, Jr., Chief Executive Officer, HealthStream. “It is apparent that Brookdale strives to provide their residents the highest quality of care and services possible. Their strong commitment to support their associates who deliver senior care and services is evident through their decision to provide HealthStream's learning and workforce development solutions. I look forward to working with them in the coming months and years.”
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