Lexus, the Japanese luxury brand best known for its flagship luxury vehicles, has been exploring a number of ways to increase the number of people living with dementia, including a new hospice care facility, the company said on Tuesday.
The company, which is owned by German luxury conglomerate Daimler, announced the initiative during its quarterly financial results presentation.
The initiative will help more people get the care they need by expanding the number and type of services provided, the announcement said.
“Our aim is to get a hospice facility ready by the end of the year and to provide more services to people who are at the edge of dying,” Lexus CEO Takashi Inada told analysts in the company’s annual results briefing.
Lexus said the initiative will also increase care in existing care facilities, where patients can choose to either receive care at home or at a Lexus care facility.
The company, the world’s biggest luxury car maker, said it would spend $3 billion on an additional hospice to provide care to people with dementia.
In December, Lexus said it was expanding the care of people with severe dementia to the number provided by existing care providers and would expand the number to people living in a home or in a community center.
However, the new plan will only be available for people who meet a number a standard of care providers, such as primary care, which Inada said was a very low number.
“We’re not looking for a number higher than the number that is expected in terms of the people who need it, but we think the number is reasonable,” he said.
The initiative comes as more people with milder forms of dementia are living with the condition, with many living alone or in nursing homes.
While the new initiative will be more effective, Inada also said it might not be as successful as he had hoped.
“It’s not as simple as just saying we’re going to provide hospice and a new facility, but also the additional care will have to be tailored to a person’s circumstances,” he told analysts.
Inada said that the initiative was a “significant step” in helping people with moderate and severe forms of the disease.
Meanwhile, Lexis said it plans to open a new center in Japan that will provide care for people with advanced dementia.
According to the company, there are now more than 9,000 people living independently with dementia in Japan, and there are approximately 4,000 more people living at home with the disease in the country.
More than 200 companies are currently providing care for patients with dementia and the initiative is expected to create more than 500 jobs in the next two years, Inama said.