LifeTrust America-the Nashville-based assisted-living company run by Columbia/HCA Healthcare Corp. board member R. Clayton McWhorter-is planning a $46 million expansion, building 16 new assisted-living facilities in Alabama and Kentucky by the end of 1999.
By the end of this year, LifeTrust expects to complete construction on four of the new facilities in Kentucky and one in Alabama. LifeTrust is a privately held developer and operator of assisted-living facilities.
Nashville-based Clayton Associates, McWhorter's venture capital firm, is the financial backer for LifeTrust. McWhorter is also the former president and chief executive officer of Healthtrust.
In Kentucky, LifeTrust will spend $30 million to build 10 residences in medium-sized cities including Bowling Green, Frankfort and Paducah. This marks LifeTrust's entry into the state.
In Alabama, LifeTrust will spend $16 million to build six residences in locations including Jasper, Madison and Montgomery. The company currently has four residences open in the state and is planning to expand its Sheffield, Ala., facility to house 68 residents from 28.
"These expansions will be an important part in the development of LifeTrust as one of the dominant assisted-living companies serving the Southeast," McWhorter said.
LifeTrust expects to develop more facilities in both states but hasn't identified specific locations.
Earlier this year, the company announced plans to create a limited liability company with Atlanta-based Georgia Baptist Health Care System.
The combined company has seven assisted-living facilities and will develop a statewide assisted-living system (April 6, p. 33). The Alabama and Kentucky ventures are owned solely by LifeTrust, as are its other facilities outside Georgia.
Currently, LifeTrust operates 24 assisted-living residences in three states and has 33 properties under construction in six states.