Artis Senior Living, a McLean, Va., firm that runs assisted living and memory care communities nationwide, has raised $40 million, according to Crunchbase.
The company was founded by the Bainum family, which has deep roots in Maryland and Virginia. The late Stewart Bainum Sr., is reported to have hitchhiked nearly 400 miles to Washington, D.C., with $3 in his pocket and a cardboard suitcase. He went back to school in his native Ohio before returning to start a modest plumbing and contracting business.
Years later, Bainum emerged a successful businessman despite scarring experiences from the Great Depression. He is the founder of Choice Hotels International and opened a state-of-the-art nursing center as early as 1960, before building several senior living and healthcare residences, including independent living, assisted living, memory care and nursing care communities.
In 2012, the Bainum family, including son Stewart W. Bainum, Jr., joined a group of seasoned senior living industry professionals in starting Artis. Bainum Jr. has run Choice Hotels and Manor Care, the country’s second-largest nursing home company. He served as a Democratic member of the Maryland House of Delegates from 1979 to 1982 and the Maryland Senate from 1983 to 1986.
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In a little over a decade, Artis has a portfolio of 27 communities, with several more in various stages of development. Artis takes pride in its singular culture and philosophy toward seniors, helping them live with dignity. Since March, Artis is led by president and CEO Joshua Krull, who previously helmed Baltimore-based Elegance Senior Living.
In 1968, the Bainum family established a foundation based in Bethesda, Md. It bears testimony to the poverty both Stewart Bainum Sr. and his wife Jane faced in their early lives. Stewart Bainum was forced out of his faith-based boarding school in Ohio prior to his senior year because he could not pay the tuition. The foundation aids the poor, and racial minorities.
Bainum passed away in February 2014 and Jane Bainum in August 2021. The foundation is managed by three additional generations — their children, grandchildren and great-grandchildren.
