AgeWell Solvere Dwelling Co-CEO and Co-founder Kristin Kutac Ward is leaving her put up on the finish of the yr with the intention to launch a brand new consulting firm targeted on senior residing.
Kutac Ward, a self-described “entrepreneur at coronary heart” introduced earlier this month that she is launching a brand new consultancy enterprise known as Austera Group. The brand new enterprise is about to give attention to neighborhood repositioning and turnarounds, and can supply shoppers operations assessments that embrace deep dives into gross sales, advertising and native positioning; the place Kutac Ward stated she sees alternatives for operators.
Kutac Ward, who has for years helped lead AgeWell Solvere and its predecessor firm, Solvere Dwelling, stated she is going to draw upon her a long time in senior residing to supply Austera’s prospects an “older, wiser and extra holistic expertise.”
“I really feel even higher geared up to assist organizations, homeowners and lenders notice their full potential,” she stated. “I actually take pleasure in fixing issues, and I actually take pleasure in collaborating with totally different folks to assist determine methods to enhance efficiency.”
After Kutac Ward’s departure, former co-CEO Mark Lichtenwalner will work as the corporate’s sole CEO, and David Mills will proceed in his function as president and COO.
Kutac Ward obtained her begin within the senior residing business again in 2009 when she co-founded Options Advisors, a consulting agency for the senior residing business. These efforts finally led her to co-found Solvere Dwelling in 2014, a devoted administration firm and model that managed greater than 2,800 items and 15 new developments as third-party supervisor for various possession teams.
In 2023, Solvere joined forces with one other operator, AgeWell Dwelling, to grow to be AgeWell Later that very same yr, AgeWell Solvere acquired Sonata Senior Dwelling and its 14 communities. As we speak, AgeWell Solvere manages 39 communities in 10 states.
“With the expertise I’ve had during the last 30 years, from an operation, gross sales and advertising, consulting, new improvement and renovation background, it’s one thing that I’m very captivated with,” Kutac Ward stated. “I’m very enthusiastic about wanting into 2025.”
Whereas she is leaving AgeWell Solvere, Kutac Ward will nonetheless keep a relationship with the corporate. In early 2025, Austera Group is planning to work with AgeWell Solvere on two initiatives, with doubtlessly extra collaboration down the highway. And Kutac Ward stated she goals for the brand new consulting firm to function an extra new useful resource for Solvere sooner or later.
A method she might proceed working with AgeWell Solvere could possibly be within the case of one other giant repositioning, particularly with an possession group she has labored with up to now.
“That’s the primary method that I will likely be working with them, and have talked about future alternatives to work with them,” Kutac Ward stated.
Not like throughout her prior consulting group with Options Advisors Group, Kutac Ward desires her new enterprise to work with just a few shoppers and “associate with good corporations” which have specializations she lacks.
As she leaves AgeWell Solvere, Kutac Ward stated the work has been “rewarding.”
“To have the ability to do this with such an amazing group of individuals, and to just about retain the general public by that course of has been very rewarding,” she stated. “However after I take a look at the longer term, you understand, I actually am excited now to proceed to work with quite a lot of totally different folks. I’m fueled by collaboration, brainstorming and innovation, and so I sit up for having extra of these alternatives.”
