Friendship Retirement Community

What Friendship Retirement Community does

Friendship Retirement Community is a non-profit senior living provider headquartered in Roanoke, Virginia, founded in 1966 and operating four campuses across Roanoke and Salem in southwestern Virginia. The organization delivers a full continuum of care spanning Independent Living, Assisted Living, Memory Care, Health & Rehab (skilled nursing and inpatient rehabilitation), Outpatient Therapy, Home Care, Adult Medical Day Care, Respite Care, a Physicians Clinic, Counseling, and Chaplaincy services, with a stated 60-year operating history as of 2026 and a combined 160+ years when including legacy Richfield Living operations dating to 1934. The underlying technology stack is conventional for the sector: electronic health records, patient portals for physician clinic access, and standard medical and rehabilitation equipment; no proprietary AI or software platform is disclosed.

The business model is recurring-fee and resident-funded, with monthly charges that vary by level of care, unit size, and service intensity across the residential and healthcare lines. Distribution is direct and regional, relying on community tours, healthcare-provider referrals, and word-of-mouth rather than paid marketing at scale. The company supplements service revenue with charitable contributions through the Friendship Foundation (including an annual golf tournament that raised over $30,000 in 2026). Strategic growth has been primarily inorganic: Salem Terrace was acquired in September 2022, and Richfield Living was acquired in October 2023 for $62 million, more than doubling the campus footprint and adding memory care and skilled nursing capacity under the parent brand.

Name

Friendship Retirement Community

Legal name

Friendship Retirement Community

Website

https://friendship.us

Company type

Private

Founded year

1966

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Friendship Retirement Community is a non-profit senior living provider operating four campuses across Roanoke and Salem, Virginia, delivering a full continuum of care from independent living through skilled nursing, rehabilitation, home care, and memory care services.

Ownership category

akta.pro rank

Product category

Senior Living and Healthcare Services

NAICS

Continuing Care Retirement Communities (623311), Assisted Living Facilities for the Elderly (623312), Continuing Care Retirement Communities and Assisted Living Facilities for the Elderly (62331), Nursing and Residential Care Facilities (623), Services for the Elderly and Persons with Disabilities (62412)

SIC

Services-Nursing & Personal Care Facilities (8050), Services-Skilled Nursing Care Facilities (8051), Services-Home Health Care Services (8082), Services-Health Services (8000)

akta.pro primary industry

Market-Rate Independent Living (Private Pay) Communities (HLADAAAA)

akta.pro secondary industries

Community-Based Senior Centers with Adult Day Services (HLADAIAJ), Companion Care & Social Support (non-clinical) (HLADAGAB), Senior Social Clubs & Community-Based Day Programs (Non-Clinical) (HSABANAK), Elder Services & Aging Support (BPAGAEAF)

Keywords

• Senior living services
• Assisted living facilities
• Skilled nursing care
• Memory care services
• Senior rehabilitation therapy

Headquarters

HQ city

Roanoke

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Senior Living Care Services: Revenue is generated through monthly fees for independent living, assisted living, skilled nursing, memory care, and rehabilitation services. Service fees cover housing, meals, personal care assistance, medical support, and activity programs based on level of care required.
2. Charitable Donations and Fundraising: As a nonprofit organization, Friendship receives charitable donations through its Friendship Foundation. The 2026 Golf Tournament raised over $30,000 for the Friendship Fund supporting residents and patients.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

Friendship Retirement Community is a non-profit senior living provider operating four campuses in Roanoke and Salem, Virginia, delivering a continuum of care that spans independent living, assisted living, memory care, skilled nursing, inpatient and outpatient rehabilitation, home care, adult medical day care, respite care, physicians clinic, therapy, counseling, and chaplaincy services. Services are delivered in-person at physical campuses and via home-based care to seniors in southwestern Virginia.

Product overview

Friendship Retirement Community operates as a non-profit senior living provider offering a comprehensive portfolio of residential and healthcare services across multiple campuses in Roanoke and Salem, Virginia. The organization provides a continuum of care through its core service lines including Independent Living, Assisted Living, Memory Care, and Health & Rehab services (skilled nursing, inpatient rehab, and outpatient care). Additional services include Home Care, Adult Medical Day Care, Respite Care, Physicians Clinic, Therapy services (physical/occupational/speech), Counseling, and Chaplaincy. The organization has grown through strategic acquisitions, notably acquiring Richfield Living in October 2023 for $62 million and Salem Terrace at Harrogate, expanding its service footprint across four campuses: North Campus, Richfield Living, Salem Terrace, and Health & Rehab South. Friendship positions itself as a comprehensive senior living solution supporting the full aging journey from independent living through skilled nursing care.

Differentiator

Problem solved

Functional benefit

Products and services

• Independent Living

Quantifiable outcome

• Recognized as one of America's Best Nursing Homes for Health and Rehab Center - North Campus
• +2 more outcomes

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Richfield LivingcoreStrategic or Co-development Partner · 1 October 2023In October 2023, Friendship Retirement Community acquired Richfield Living for $62 million, expanding its senior care service offerings including independent living, assisted living, and skilled nursing care. The combined organization has 160+ years of experience serving seniors in southwestern Virginia. Richfield Living was rebranded as Friendship Richfield Living, honoring the tradition and history of the community while bringing it into the Friendship family.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Brookdale Senior Living: Largest U.S. senior living operator with hundreds of communities across Independent Living, Assisted Living, and Memory Care. Directly comparable to Friendship's full continuum-of-care model, though at vastly greater national scale and as a publicly traded for-profit operator.
• Atria Senior Living: National senior living operator offering Independent Living, Assisted Living, and Memory Care across more than 200 communities. Comparable service mix to Friendship's residential lines, with a broader geographic footprint and private ownership structure.
• Sunrise Senior Living: Established U.S. and U.K. senior living provider focused on Assisted Living and Memory Care, with a continuum-of-care approach. Directly comparable to Friendship's assisted living and memory care offerings but operating at a much larger national scale.
• Life Care Services (LCS): Leading manager of Continuing Care Retirement Communities (CCRCs) and senior living communities across the U.S. Closest peer to Friendship's CCRC-style continuum-of-care model, particularly the Richfield Living campus, with experience managing nonprofit and for-profit senior communities.
• Erickson Senior Living: Operator of large-scale continuing care retirement communities primarily on the East Coast. Comparable to Friendship's continuum-of-care positioning across Independent Living, Assisted Living, Skilled Nursing, and Memory Care, though at significantly larger community sizes.

Direct peers

• Five Star Senior Living: Senior living operator offering Independent Living, Assisted Living, Memory Care, and Skilled Nursing across multiple states. Closely aligned with Friendship's multi-service senior care model and comparable mid-sized community portfolio structure.
• Genesis Healthcare: National provider of skilled nursing, rehabilitation therapy, and assisted living services. Directly comparable to Friendship's Health & Rehab and Skilled Nursing service lines across North and South campuses, with comparable Medicare/Medicaid reimbursement exposure.
• National HealthCare Corporation: Operates skilled nursing facilities, assisted living communities, and home health programs primarily in the Southeast U.S. Comparable to Friendship in operating skilled nursing and assisted living facilities with similar regulatory and reimbursement dynamics.

Regional players

• Brandon Oaks Life Plan Community: Nonprofit continuing care retirement community located in Roanoke, Virginia, offering Independent Living, Assisted Living, and Skilled Nursing. Direct regional peer to Friendship in the Roanoke Valley with a comparable nonprofit CCRC business model.
• Runk & Pratt Senior Living Communities: Family-owned senior living operator with multiple communities across Virginia offering Assisted Living and Memory Care. Regional Virginia peer with comparable services to Friendship's Salem Terrace and North Campus assisted living offerings.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks1 record

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@friendshipretirementcommun1540
• Facebookfacebook.com/friendshipretirement
• Xx.com/friendshipva
• LinkedInlinkedin.com/company/friendship-retirement-community

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Friendship Retirement Community