Anthem Memory Care to Expand With Five Additional Colorado Communities

DENVER, CO and PORTLAND, OR--(Marketwire - Oct 22, 2012) - Anthem Memory Care (Anthem), a Portland, Ore.-based developer and operator of communities designed for residents with Alzheimer's and other dementias, announced it plans to expand upon its previously announced Littleton community, Highline Place, expected to be open Q2 2013. Anthem will expand with as many as six additional Colorado locations over the next 18 months. It has targeted Aurora, Lakewood, Westminster, Denver and Colorado Springs and has signed purchasing agreements with more than half of the targeted communities to-date. Its total investment is expected to exceed $70 million in the state.

"The need for care in the area of Alzheimer's and other dementias is highly specialized and the demand is increasing rapidly with demographic growth in baby boomers," said Mark Rockwell, a principal of Anthem. "Our team has a deep background in this specialized area of healthcare and we look forward to serving the Denver metropolitan area and Colorado as a whole."

Alzheimer's and other dementias, as a singular category of progressive disease, is the fourth-leading cause of death in Americans over 65 years of age, and more than 93 percent of U.S. beds dedicated to memory loss are occupied today. Anthem anticipates that its Colorado-based properties will provide care for more than 350 residents and create more than 200 full-time, living wage jobs with competitive benefits upon completion of its current plans.

In May, Anthem broke ground on the Highline Place community in Littleton, Colo. The Adair Group, a Denver-based general contractor, began construction on the 37,500 SF facility with the capacity for 76 residents.

"Adair is proud to partner with Anthem on the current Littleton project, which is on schedule," said Roger Brown, president and chief operating officer, The Adair Group. "We are looking forward to helping support a team and a service that is desperately needed in the market."

The 65-and-older age group in the U.S. grew by 15 percent from 2000 to 2010 according to the Brookings Group and the Census Bureau, with Colorado outpacing the general population. Colorado Springs, specifically, ranked seventh nationally in that survey with an increase of more than 40 percent. Many factors contribute to the attractiveness of the state, including its active lifestyle, economic confidence, standard of living, weather, and family nearby.

About Anthem Memory Care
Anthem Memory Care (Anthem) is a team of experienced individuals who have successfully developed and leased more than 60 new senior communities, operated more than 1,500 beds dedicated to memory care, and more than 12,000 senior units in total. With initial communities in Chico California and Littleton Colorado, Anthem is committed to creating a portfolio of communities dedicated to providing the highest quality healthcare and housing for those with cognitive impairment. The Company can be found online at http://www.anthemmemorycare.com/.