Case Study
Revolutionizing Senior Living Through Purpose-Driven Leadership
At a Glance
Bickford Senior Living partnered with Stagen in 2017 to transform their approach in a heavily commoditized industry, resulting in meaningful market differentiation and improved financial performance. A cultural intervention combined with strategic repositioning enabled Bickford to implement their Higher Path Model across five locations, which generated $3.5 million in year-over-year increase in EBITDA, translating to a $45 million boost in enterprise value.
Discover
The Challenge
Despite following traditional success formulas, Bickford struggled to maintain its competitive edge in an industry stuck in outdated practices and lacking innovation. Under the leadership of the second generation of this family business, the company recognized the need to fundamentally overhaul its offerings and go-to-market strategy to secure a future in a saturated market.
Design
The Intervention
From 2017 through 2022, Bickford worked with Stagen to clarify their corporate purpose and values, create a company manifesto, develop key leaders, and implement systems for continuous team development. In 2023, Bickford successfully built upon these foundational elements and piloted a proprietary High Path Model in 5 of their 60 communities.
Deliver
The Results
Bickford achieved a $3.5 million year-over-year increase in EBITDA, translating to a $45 million boost in enterprise value for just 5 of their 60 locations. The company’s operating margins grew while competitors faced margin compression, culminating in 2024 being recognized as their best year to date with all-time high revenue and occupancy levels.
The Impact
Beyond financial success, the partnership with Stagen empowered Bickford to become an innovative leader in the senior living industry, influencing the entire sector. Their transformation demonstrates that significant financial success is possible while simultaneously improving quality of life for seniors and creating a more purposeful work environment for employees.
Bickford’s Purpose
