November 01, 2019
Baycrest Global Solutions collaborates with Thailand’s The Aspen Tree, consulting on new senior communities and bringing an “aging in place” model to address the challenges of managing older populations
Baycrest Global Solutions (BGS), a Baycrest subsidiary, has partnered with The Aspen Tree, a Bangkok-based provider of services for older adults, specializing in communities, to consult and oversee operations of its launch community, the Forestias, bringing world-leading standards to Thailand’s eldercare sector. The collaboration was marked with the signing of a letter of intent (LOI) on October 15, 2019.
The Forestias is a 119-acre green district being built in Thailand’s Bang Na district by The Aspen Tree’s parent company, international developer Magnolia Quality Development Corporation Limited (MQDC). The partnership is an extension to the consulting services BGS provides The Aspen Tree, which shares a passion for transforming services for older adults and improving quality of life and care for older adults globally.
The Aspen Tree President, Ms. Hye-June Park, said the agreement will bring a level of excellence in the country’s eldercare sector and spark a revolution in the market amid Thailand’s rapid shift to an aging society, and the region’s looming ”grey tsunami.”
“Baycrest is globally renowned for its eldercare expertise, having served older adults in Toronto for more than 100 years, uniquely combining research and care to develop pioneering, evidence-based approaches,” she said.
“BGS’s first collaboration in Southeast Asia marks a new level of professionalism to propel the sector here in Thailand and across Asia. The Aspen Tree and BGS will look to bring this new ‘aging-in-place’ model to other Asian markets, offering a winning combination of lifestyle and healthcare to address the challenges of aging societies.”
Under the LOI, BGS will now engage in pre-opening design guidance, construction and advisory services. After the launch, BGS will maintain a full-time team onsite, providing management and overseeing operations.
Dr. William E. Reichman, President and CEO of Baycrest and Baycrest Global Solutions, said the collaboration heralded new opportunities for successful aging in Asia. “The Aspen Tree’s vision to combine global best practice in eldercare with its lifestyle expertise in design and services represents a compelling new offer in Asia.”
“BGS and The Aspen Tree are united in our dedication to bringing successful aging to the region, giving older adults control over their own care. We look forward to ensuring the highest quality of life at a community where every element – from green surroundings to residences with universal design, wellness programs, high care facilities – will enable residents to ‘age in place’ happily and healthily.”
Signed by Ms. Park and Dr. Reichman, the official agreement establishes a collaboration to create an upscale community at The Forestias that can provide a model that can be adapted for other income segments and international markets.