Fifteen years after founding HCA, Dr. Thomas Frist Sr. and businessman Jack Massey set their sights to scaling the assisted living and retirement industries. Again, their aim is to transform the sector from a collection of “mom-and-pop” operations to a streamlined industry and increase the consistency and quality of care.

Along with National HealthCare Corp. (NHC), this is one of Nashville’s first entrants into the long-term care space.

ARC will merge with National Retirement Corporation in 1992. In 2006, the company is acquired by Brookdale Senior Living for $1.2 billion in cash.