In a Senior Housing News (SHN) article, Matt Kinne, Lifespark Chief Operating Officer, sat down with SHN reporter, Austin Montgomery, to talk about how Lifespark has embraced geriatric pharmacology within its community and senior living settings and if revenue and improved care is something we are seeing.
In 2021, St. Louis Park, Minnesota-based Lifespark acquired senior living provider Tealwood Senior Living, which had a pharmacy program in place. This inspired Lifespark to look into a geriatric clinical pharmacy, according to Lifespark COO Matt Kinne. That led the senior living provider in 2023 to form a JV partnership with Consonus Healthcare, the pharmacy services arm of senior housing and care provider Marquis Companies.
Kinne noted that pharmacies require scale to function properly. Lifespark’s JV partnership was still in the financial red, but growing, generating around $15 million since its launch 18 months ago.
“We’re still in startup mode and have been growing fast,” Kinne said. “Long-term, I am really bullish on it and I think it’s going to be really important, and as much as it is about generating another ancillary revenue stream, it’s about the totality of the clinical model.”
