MALVERN, Pa., Sept. 13, 2021 /PRNewswire/ — As the U.S. population continues to age, there is unprecedented demand for products, services, and support designed to meet the needs of seniors – those aged 65 and older. The senior living market in particular is poised for significant growth – it is estimated that 70% of Americans over 65 will require some form of long-term care.1 Recognizing the significant potential to deliver value for this market, HMP Global, the world’s largest healthcare event and education company, today announced the acquisition of the annual Senior Living Executive Conference & Expo from Argentum, the leading national association supporting companies operating professionally managed, resident-centered senior living communities, and representing approximately 75 percent of the industry. Financial terms of the agreement were not disclosed.
Nearly 3,000 executives from 750 companies attend the annual gathering – recognized as the premier networking and educational event for the space. Participating companies represent decision-makers from for-profit and non-profit assisted living, memory care, independent living, continuing care retirement communities (CCRCs), real estate investment trusts (REITs), private equity, capital providers, industry suppliers, media, and academia. The 2021 meeting will run September 13-15 in Phoenix, while the 2022 event will resume its pre-COVID meeting pattern and take place May 16-18 in Minneapolis.
The two organizations also announced a multi-year partnership to guide the meeting’s strategic direction and program development, working to ensure the conference remains relevant to current participants, while attracting new segments with differentiated value. The Senior Living Executive Conference & Expo will remain the official meeting of Argentum.
"This is an exciting addition to the HMP Global portfolio, and we look forward to the long-term partnership with Argentum – an organization with a strong presence in the senior living space," said Jeff Hennessy, Chairman and Chief Executive Officer, HMP Global. "This partnership connects two organizations committed to delivering quality education and experience. Just like the theme of the 2021 conference – "Better Senior Living. Together." – we will combine our collective strengths and broaden the meeting’s reach to accelerate growth, with a continued focus on ensuring senior living professionals are equipped to provide the highest quality care and support to senior living residents and their families."
"We can’t think of a better organization than HMP Global to take the conference and expo into its next phase of growth," said James Balda, Argentum President & Chief Executive Officer. "This partnership will allow our association to focus on strategic initiatives that deliver even more value year-round for our members and will support our continued need to focus on advocacy and policy initiatives that are increasingly critical to the industry. We look forward to collaborating closely with the HMP Global team to ensure the Senior Living Executive Conference & Expo is where Argentum’s membership continues to gather annually, and to further strengthen the meeting to serve even more audiences."
The Argentum transaction marks the fourth acquisition for HMP Global for 2021, continuing a period of accelerated, post-COVID growth for the company. Recent transactions solidified the company’s position as the global market leader for wound care education with the March acquisition of Kestrel Health Information; and positioned it as the best-in-class provider of addiction education with the February acquisition of a portfolio of educational meetings from C4 Recovery Foundation. In February, the company also acquired the ePlasty journal, the preeminent peer-reviewed digital journal dedicated to advancing medical and scientific knowledge in plastic and reconstructive surgery, surgical wound healing, vascular surgery, and tissue repair.
Upon completion, this deal will bolster HMP Global’s omnimedia approach to high-quality healthcare content and education in the continuing care space. HMP Global is home to a well-regarded long-term and post-acute care portfolio, with brands that include Annals of Long-Term Care, a peer-reviewed medical journal of the American Geriatrics Society, with a readership of more than 33,000 medical directors, physicians, nurses, pharmacists, physician assistants, and other allied health professionals; the Post-Acute Care Symposium (PACS); as well as a host of other publications, data intelligence tools, and news sites.
Corporate Solutions of Westport, Connecticut was the exclusive advisor to Argentum in arranging, structuring and negotiating this transaction.
ABOUT HMP GLOBAL
HMP Global is the force behind Healthcare Made Practical—and is an omnichannel leader in healthcare events and education, with a mission to improve patient care. The company produces accredited medical education events – in person and online via its proprietary VRTX virtual platform – and clinically relevant, evidence-based content for the global healthcare community across a range of therapeutic areas. Its brands include Consultant360, the year-round, award-winning platform relied upon by primary care providers and other specialists; Psych Congress, the largest independent mental health meeting in the U.S.; EMS World Expo, North America’s largest EMT and paramedic event; and the Symposium on Advanced Wound Care (SAWC), the largest wound care meeting in the world. For more information, visit hmpglobal.com.
Argentum is the leading national association exclusively dedicated to supporting companies operating professionally managed, resident-centered senior living communities and the older adults and families they serve. Since 1990, Argentum has advocated for choice, independence, dignity, and quality of life for all older adults.
Argentum member companies operate senior living communities offering assisted living, independent living, continuing care, and memory care services. Along with its state partners, Argentum’s membership represents approximately 75 percent of the senior living industry—an industry with a national economic impact of nearly a quarter of a trillion dollars and responsible for providing over 1.6 million jobs. These numbers will continue to grow as the U.S. population ages.
Argentum’s programs and initiatives are driven by its membership. Learn more at argentum.org.
1 Source: Senior Living Impact, 2021: https://seniorlivingimpact.org/
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SOURCE HMP Global