Expanding Memory Centers into the Midwest
FOREST HILLS, N.Y., Dec. 2, 2010 — Memory Training Centers of America, the largest provider of professional memory training services in Assisted and Independent Living communities in the U.S., has partnered with CRL Senior Living Communities, the largest provider of luxury Assisted and Independent Living communities in Wisconsin. CRL currently owns and operates 14 residential communities for seniors in Wisconsin, including Memory Care facilities connected with many of its residences. CRL Senior Living Communities also owns and operates two residences in Illinois, with a new Alzheimer's Memory Care community under construction and due to open fall 2011. In November 2010, MTCA opened Memory Training Centers on-site in 4 CRL communities, with a plan for 6 by end Q4 2010, and then roll out of Centers in all CRL Senior Living Communities during Q1 2011.
CRL will open many of the MTCA Centers to Seniors outside of their internal residential communities, thus making MTCA services available to more than 1000 CRL Senior Living Community residents and thousands of local area residents throughout Southern and Eastern WI. Northern Illinois communities will also be served next year.
The partnership between MTCA and CRL makes CRL the first Senior Living Corporation in Wisconsin to offer professional memory training services to its residents.
In 2007, MTCA provided professional memory training services to 10 Assisted and Independent Living communities in the Northeast, with annual revenue of approximately $200,000. MTCA has grown at a rate of 100% through 2007-2008, with additional 100% growth in 2008-2009. With an additional rate of growth at 100% in 2010, MTCA has ended Q3 with annualized revenue of $1,500,000, and an expectation of hitting the $2,000,000 mark by the end of Q4. MTCA currently provides on-site Memory Centers services at 50 senior retirement communities.
In addition to its expansion in the Midwest, MTCA has started Centers in 6 Florida senior communities late 2010 and will open its first Centers in California and Louisiana in Q1 2011. Through its recent national expansion and partnerships currently being discussed with 3 national Assisted Living Corporations, MTCA expects to easily exceed its double revenue growth in 2011 reaching over 6 million in revenue.
With the 2010 NIH report that a decade of research on factors associated with cognitive decline cites cognitive training as the only variable found to be associated with a reduced risk of cognitive decline (at a high level of scientific validity), MTCA anticipates even greater interest in its preventive and treatment services in the booming senior residence market.
Contact:
Jasmin Harry
718-268-6600
Email
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