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    Sunrise Assisted Living Inc.
    list rank

    From the April 28, 1997 Washington Post


    '96 (in $ 000s) % Change From '95
    Revenue 47,345 27.1
    Net Income (4,760) --
    Rank Last Year: None

    Description:
    Sunrise Assisted Living operates assisted-living homes for the elderly that provide around-the-clock personal services. The homes occupy a niche between independent retirement living and nursing homes.

    Business Resume:
    • Contact Info --
      9401 Lee Highway, Ste. 300
      Fairfax, Va. 22031
      703-273-7500
    • Main Business --
      Assisted living provider
    • Founded --
      1981
    • Chairperson --
      Paul Klaassen (CEO)
    • President --
      Paul Klaassen
    • Employees --
      2,384
    • D.C.-Area Employees --
      970
    Developments:
    Sunrise continued to expand in 1996, taking advantage of an initial public sale of stock and a second offering, both last year, that raised a total of $195 million. At the end of 1996, it operated 37 homes in 11 states with a capacity of 3,750 residents. All but five are owned, as well as operated, by Sunrise. Revenue totaled $47.3 million, a 27 percent increase from 1995.

    Early last year, the Montgomery County Housing Opportunities Commission removed Sunrise as manager of the authority's Kensington seniors' complex after the death of a resident who had been receiving blood-thinning medication. A state report questioned the thoroughness of Sunrise's management, while a state survey found that most residents praised the home's non-institutional ambiance. The commission's action has not affected Sunrise's expansion in the county, company officials said.

    Company founders Paul and Terry Klaassen opened the first facility in the Fairfax community of Oakton in 1981, patterned after assisted-living homes in the Netherlands where Paul Klaassen's grandmothers had lived. Nineteen of the Sunrise homes are located in the Washington region, with five more scheduled to open this year. The company has 17 other homes under construction nationwide.

    Copyright 1997 The Washington Post

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