Core Insights - Discovery Senior Living has entered into management agreements with Diversified Healthcare Trust to operate a portfolio of 42 senior living communities, enhancing its leadership position in the industry [1][3][13] Company Overview - Discovery Senior Living is the largest privately held senior housing operator in the U.S., managing approximately 47,000 units across around 420 communities in 40 states [13][15] - The company employs over 20,000 team members and is recognized for its performance, innovation, and customized lifestyle experiences [15] Transaction Details - The new portfolio spans key states including Texas, South Carolina, Pennsylvania, North Carolina, Missouri, Maryland, and Georgia, creating operational synergies and strengthening regional expertise [2][12] - The addition of the DHC portfolio reinforces Discovery's status as a trusted partner for REITs and institutional owners managing complex, multi-market portfolios [13] Operational Strategy - Discovery's model is designed for institutional owners, combining local market leadership with centralized expertise to meet the increasing complexity and performance expectations of healthcare REITs [5][10] - The company employs a rigorous internal stress-testing process to ensure that existing portfolios perform at or above expectations while supporting new management assignments [6][12] Integration and Execution - Discovery's Business Assimilation Team (BAT) facilitates the seamless integration of newly acquired portfolios, focusing on talent ramp-up, sales acceleration, and operational opportunities [9][12] - The 42 DHC communities will be distributed across several of Discovery's management companies to maximize local market insight while leveraging centralized expertise [11][12]