Wilsonville, OR-based Avamere Living Community-Based Care, previously with Avamere Health Services, is spinning off independent living, assisted living and memory care communities to a new company called Arete Living, the company announced Tuesday. The spin-off represents approximately half of Avamere’s senior living and care communities.
The new company, also based in Wilsonville, OR, will manage almost 30 communities across seven states, more than half of them in Oregon, with other communities in Washington, Utah, Nevada, Arizona, New Mexico and Nevada. The portfolio includes Avamere communities and luxury 55+ brand Ovation by Avamere communities Ovation Sienna Hills in St. George, UT, and Heartwood Preserve in Omaha, NE. Ovation by Avamere was founded in 2020.
“We are thrilled to announce this monumental change in our company,” said Sarah Silva, president of Arete Living, who had been a division president for Avamere’s senior living division since 2018. “Arete Living is a fresh, modern perspective on senior living, with personalized services and increased choices to honor our organization’s Greek definition of excellence.”
Avamere said that “a dynamic operating environment” and changes in the company’s overall organizational structure and strategy led to the decision to spin off Arete from Avamere’s full senior healthcare services organization, “to rebrand and devote an even stronger focus on the senior living sector and meeting seniors’ and their families’ needs.”
“Becoming a self-governed, independent company allows Arete Living’s leaders to make strategic decisions more quickly, offering the opportunity to expand in the everchanging senior living market,” Avamere said.
Its senior living division has seen 40% growth since 2018, Avamere said.
Rick Miller, founder of Avamere Health Services, is chairman of Arete’s board. Other board members:
- Brent Burnett, global co-head of real assets, member of investment committee, valuation committee, and operating committee at Hamilton Lane.
- Jim Carlson, former president and CEO of the Oregon Health Care Association.
- Tim Doman, formerly with Care Capital Properties and real estate investment trust Ventas.
- Zanele Mutepfa-Rhone, founder of Brand Zanele, brand, marketing, culture and diversity strategist.
The new brand name refers to a Greek word meaning excellence. The company pronounces it är-ā-tai.
The Arete Living logo’s mountain peak is meant to honor the Pacific Northwest where the company originated more than 25 years ago. The purple hue was chosen to represent serenity and peacefulness. The company also plans to use navy blue to exemplify knowledge, integrity and importance of each resident and individual served.
“Every aspect of the brand was intentionally created with a singular focus on our seniors and team members,” said Chief Marketing Officer Thomas Cloutier, an Avamere alumnus. “We’re creating an organization and home for seniors that represents excellence, integrity and passion for the people we represent and serve.”
Avamere maintains more than 30 skilled nursing and rehabilitation facilities, with two-thirds of them in Oregon and a large presence in Washington, too, according to its website.