Carrollton, Texas–RealPage, Inc. has acquired SeniorLiving.Net (SLN), an Internet lead-generation and placement network for the senior-housing market. SLN helps families with aging parents find senior-care providers, at no cost to the families, and provides each family with a skilled care advisor familiar with the local market to help them through the process.
SLN generates leads through more than 200 websites and affiliates that provide information to families. Nearly 2,700 senior living communities are qualified to receive leads from SLN.
RealPage paid $4.5 million in cash with the potential to earn additional consideration upon achieving future financial targets through June 2014. “SeniorLiving.Net expands our senior housing offering, which currently features accounting, census management and facilities management marketed as OneSite Senior Living,” says Dirk Wakeham, president of RealPage.
According to the 2010 National Investment Center Investment guide, there are approximately 1.3 million senior and assisted living units in the United States, and that number is expected to double over the next 25 years due to the aging baby-boomer generation. RealPage believes that the total addressable market for lead generation and placement services in the independent and assisted-living market is at least $800 million annually.