Deerfield Mgmt Holds 7.0% Stake in Brookdale Senior Living (BSL)

TL;DR

**Deerfield Mgmt still owns 7.0% of Brookdale Senior Living, showing continued conviction.**

AI Summary

Deerfield Mgmt, L.P. and its affiliates, including Deerfield Management Company, L.P. and Deerfield Partners, L.P., have updated their beneficial ownership in Brookdale Senior Living Inc. (BSL) as of December 31, 2023. This Amendment No. 2 to their SC 13G filing shows they collectively hold shared voting and dispositive power over 14,793,264 shares of BSL common stock, representing 7.0% of the company's outstanding shares. This matters to investors because it indicates a significant institutional holder maintains a substantial stake, suggesting continued confidence in the company's long-term prospects, despite a slight reduction from previous filings.

Why It Matters

This filing confirms a major institutional investor, Deerfield Mgmt, maintains a significant position in Brookdale Senior Living, which can be a vote of confidence for other investors.

Risk Assessment

Risk Level: low — This filing is an update to an existing stake, indicating stability rather than a new, volatile position.

Analyst Insight

Investors should note that a major institutional holder, Deerfield Mgmt, continues to hold a substantial stake in BSL, which could be interpreted as a positive signal of long-term value, but should also consider any previous filings to understand if this stake has increased or decreased over time.

Key Numbers

• 14,793,264 — Shares Beneficially Owned (Represents the total shared voting and dispositive power over Brookdale Senior Living common stock by Deerfield Mgmt, L.P. and its affiliates.)
• 7.0% — Percentage of Class (This is the percentage of Brookdale Senior Living Inc.'s common stock beneficially owned by the reporting group as of December 31, 2023.)
• December 31, 2023 — Date of Event (The date as of which the beneficial ownership information was determined for this filing.)

Key Players & Entities

• Deerfield Mgmt, L.P. (company) — primary reporting person and beneficial owner
• Brookdale Senior Living Inc. (company) — the issuer of the securities
• Deerfield Management Company, L.P. (company) — group member
• Deerfield Partners, L.P. (company) — group member
• Flynn James E (person) — filer of the SC 13G/A

Forward-Looking Statements

• Deerfield Mgmt will maintain a significant stake in Brookdale Senior Living for the foreseeable future. (Deerfield Mgmt, L.P.) — medium confidence, target: December 31, 2024
• Brookdale Senior Living's stock price will experience moderate stability due to continued institutional interest. (Brookdale Senior Living Inc.) — low confidence, target: June 30, 2024

FAQ

Filing Documents

• e619241_sc13ga-bsl.htm (SC 13G/A) — 100KB
• 0001193805-24-000179.txt ( ) — 101KB

(a)

Item 1(a). Name of Issuer: Brookdale Senior Living Inc.

(b)

Item 1(b). Address of Issuer's Principal Executive Offices: 111 Westwood Place, Suite 400 Brentwood, Tennessee 37027

(a)

Item 2(a). Name of Person Filing: James E. Flynn, Deerfield Mgmt, L.P., Deerfield Partners, L.P. and Deerfield Management Company, L.P.

(b)

Item 2(b). Address of Principal Business Office, or if None, Residence: James E. Flynn, Deerfield Mgmt, L.P., Deerfield Partners, L.P. and Deerfield Management Company, L.P., 345 Park Avenue South, 12th Floor, New York, NY 10010

(c)

Item 2(c). Citizenship: Deerfield Mgmt, L.P., Deerfield Management Company, L.P. and Deerfield Partners, L.P. - Delaware limited partnerships; James E. Flynn – United States citizen

(d)

Item 2(d). Title of Class of Securities: Common Stock

(e)

Item 2(e). CUSIP Number: 112463104 Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: (a) Broker or dealer registered under Section 15 of the Exchange Act. (b) Bank as defined in Section 3(a)(6) of the Exchange Act. (c) Insurance company as defined in Section 3(a)(19) of the Exchange Act. (d) Investment company registered under Section 8 of the Investment Company Act. (e) An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); (f) An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); (g) A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); (h) A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act; (i) A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act; CUSIP No. 112463104 13G Page 7 of 9 (j) A non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J); (k) Group, in accordance with Rule 13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J), please specify the type of institution: _________________ Item 4. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned**: Deerfield Mgmt, L.P. - 14,793,264 shares Deerfield Management Company, L.P. - 14,793,264 shares Deerfield Partners, L.P. - 14,793,264 shares James E. Flynn – 14,793,264 shares (b) Percent of class**: Deerfield Mgmt, L.P. – 7.86% Deerfield Management Company, L.P. – 7.86% Deerfield Partners, L.P. – 7.86% James E. Flynn – 7.86% (c) Number of shares as to which such person has**: (i) Sole power to vote or to direct the vote: All Reporting Persons - 0 (ii) Shared power to vote or t

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View this SC 13G/A filing on SEC EDGAR