Skilled Nursing Must-Reads: Kindred’s Long Goodbye, Custodial Care Endangered
It’s been a busy few weeks in the world of skilled nursing, from a flurry of mergers-and-acquisitions news to a major industry executive’s bold prediction about the future of custodial care. In case you missed them the first time around, here’s a quick recap of the biggest stories you need to read to catch up.
Kindred Healthcare, Inc. (NYSE: KND) continued its exit from the skilled nursing space with the announcement of a 12-property, $108 million SNF sale to buyer BM Eagle Holdings. The transaction included four assisted living communities, and the Louisville, Ky.-based firm also offloaded two more skilled nursing properties independent of the deal.
In other M&A news, an insider gave SNN new details about Sabra Health Care REIT’s (Nasdaq: SBRA) $430 million skilled nursing pickup, a deal she described as “unusual” in the SNF space.
Meanwhile, at the National Investment Centers for Seniors Housing and Care (NIC) conference in Chicago, Sabra CEO Rick Matros foretold the end of custodial care in the skilled nursing space, predicting a future filled with high-acuity residents in need of care for comorbidities.
Over at Genesis HealthCare (NYSE: GEN), a rehab subsidiary is exploring the potential use of exoskeletons as part of a major technology push. And finally, a study revealed that millennials are flocking to the nursing profession, forming “pig in the python” effect after Generation Xers expressed ambivalence toward the career field.
Written by Alex Spanko