Five Star Senior Living (NYSE: FVE) is changing its name to AlerisLife, reflecting a growing focus on offering more lifestyle services.

The company has updated its website to reflect the name change, and starting Jan. 27 it will trade on the Nasdaq stock market under the ticker symbol “ALR.” Despite the rebranding, the company will continue to use its “Five Star Senior Living” and “Ageility” brands in its communities.

With the name change, the Newton, Massachusetts-based company is marking its ongoing evolution “from primarily a senior living owner and operator to a more diversified and comprehensive partner,” according to CEO Katie Potter.

“Years before the pandemic, we began evolving our offerings and expanding our services to attract older adults seeking choice-based lifestyle services,” Potter said in a Jan. 26 announcement on the rebranding. “We have already made great progress and look forward to further diversifying the company’s revenue streams, driving a shorter sales cycle, maximizing our share of customer spending, increasing pre-senior living touch points with customers and reducing turnover costs.”

“Aleris” is a Latin word that means “nourish.” And to that end, the company is fostering new ways to offer both traditional senior living services along with lifestyle offerings aimed at “younger, choice-based consumers.”

Five Star has deepened its lifestyle service offerings in recent months, including by growing its Ageility rehabilitation and fitness segment, collaborating with Compass Group on dining services and partnering with Dispatch Health to bring more acute care to residents.

Looking ahead, the company plans to create new consumer-facing brands as it develops new active adult management services and home care and concierge services. The company also expects to announce more new strategic relationships in the future.

In addition to the rebranding, Five Star also appointed Lauren Cody to the role of chief customer officer and Michael Lopez to chief people officer. 

Cody has more than 20 years of leadership experience, and most recently worked as senior vice president, chief of staff and chief customer officer at Panera Bread. Lopez has more than 20 years of leadership experience, and he most recently worked as vice president of human resources for Royal Caribbean International.

“As we expand our services and customer base, their decades of experience at large, successful, brand name organizations will be invaluable to us,” Potter said.

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