Enjoying life since 1649.

A WELCOMING COMMUNITY FOR AN AGING POPULATION.

The Eldercare market — a subset of Healthcare including skilled nursing care facilities, home healthcare services, social services, continuing care retirement communities, and assisted living facilities — is a $300-400 billion industry employing over 1,000,000 people nationally.  Overall, healthcare is a $2.9 trillion industry employing over 13 million people.

Thinking of investing in the eldercare economic segment? 
Consider Stonington, a growing Center of Excellence for Eldercare. The Stonington Healthcare / Eldercare Cluster has a relative economic value that is defined by the Grand List assessed value from which tax revenue is derived:

Eldercare — about $900K, or 1.6% of Stonington's total tax revenue, is generated by an estimated $40 million in assessed value.  Four entities contribute the lions’ share: StoneRidge, Apple Rehab, Pendleton Nursing Home, and MasoniCare. 

Healthcare — The Grand List contains approximately 60 entities including medical and dental practices, pharmacies, and therapy practices.

Demographics:
The total population of the Town of Stonington has hovered around 18,000 since 2000.  Over 20% of Stonington's population is 65 years of age and older.  National trends point to an aging population, and this trend is expected to continue as longevity increases and birth rates remain low.  These trends indicate that the demand for senior healthcare, eldercare, and retirement services will continue to grow.

Major Eldercare facilities in Stonington:

• StoneRidge – Avalon Health Care Center at StoneRidge, 40 beds and 37 residents; 270 residential units.

• Pendleton Rehabiilitation and Nursing Home – 120 beds, 108 residents.

• Apple Rehab – short-term rehab (60 beds), long-term living (50 residents)

• Masonicare – 81 independent living units, 50 assisted-living apartments and 48 memory-care units.

Major Eldercare services in Stonington:
The Mystic Geriatrics Institute: The Mission of MGI is to: Create an organization in our region to foster the development and communication of effective geriatric care; Coordinate responses to elder issues, broadcasting effective strategies to invested audiences though workshops, conferencing and symposia; Educate and collaborate with communities to establish infrastructure and services that promote elder well-being. 

Just completed is the Hartford HealthCare HealthCenter Mystic, proximate to the major eldercare residential facilities listed above.  This $20M, 47,000 square foot, state-of-the-art healthcare facility - offering Primary care, Cardiology, Imaging, Physical Therapy and Rehabilitation Services, Pain Management services, a Movement Disorders Center, Neurosurgery, Other Neuroscience and specialty services, and other services - assures that the Stonington seniors population has local access to the the best healthcare services available.

Thinking of investing in the eldercare economic segment?