Assisted living facilities thrive as population grows.

Evidence of a health care system in disarray abounds. Hospitals are running multi-million-dollar deficits. Nursing homes are filing for bankruptcy. Soaring insurance premiums are crippling small businesses.

But perseverance, hard work and the implementation of solid business, practices are likely to lead to success - even for a company so dependent upon the health of the health care industry.

Meet Peter and Diane Sangermanos - who now employ 1,000 people at a Rhode Island-based company composed of 10 assisted-living facilities.

The Sangermanos started slowly.

Ten facilities, after all, was not part of some big master plan - not back in April of 1990 when the Village at Waterman Lake in Greenville opened its doors. Peter and Diane Sangermano planned on running one high-end assisted living facility. They knew it would be hospitality-driven. They knew people wanted comfort, wanted to feel like they were home.

That first facility was an immediate success. So the Sangermanos built another - and another. And the dream expand ed. A dream fueled by demographics.

Americans were beginning to live longer - well into their 80s, …