HHC’s $157M Run of Skilled Nursing Loans; Alumni-Run CCRC Changes Hands in Texas

HHC Lands $157M in Loans Since June Housing and Healthcare Finance this week announced a group of eight loans closed over the past two months, totaling $157 million for multiple skilled nursing facilities around the country. The Bethesda, Md.-based lender’s recent roster includes a $100 million bridge loan for an eight-facility portfolio in Pennsylvania, a […]

Looking Locally at Skilled Nursing Industry Could Show Brighter Future

If there’s been one recurring theme in the skilled nursing industry over the last few years, it’s distress, with dropping national occupancy stats and new payment models changing the way providers deliver post-acute care. But one leading industry voice says it isn’t productive to ask about the future of the skilled space as a national, […]

Skilled Nursing Stuck in Awkward Middle Between Old and New Payment Models

Narrowing networks of referral providers have been a top concern for skilled nursing facilities over the last two years, with industry leaders preaching the importance of improving certain metrics in order to impress hospitals and home health agencies. Under models such as Bundled Payments for Care Improvement (BPCI) and other shared-savings plans, the thinking goes, […]

Omega Joins CareTrust in Predicting Post-PDPM Wave of Skilled Nursing Sales

Leaders at two major real estate investment trusts (REITs) focused on health care assets have predicted a coming wave of mergers-and-acquisitions volume as smaller providers refuse to adapt to new skilled nursing payment rules. As mom-and-pop operators begin to unpack the changes associated with the Patient-Driven Payment Model (PDPM) — the new set of therapy […]

Ensign Group Touts ‘Enormous Organic Growth’ Potential for Skilled Nursing Properties

The Ensign Group (Nasdaq: ENSG) turned in yet another upbeat quarterly earnings call last week, emphasizing its improved turnaround strategies for underperforming skilled nursing facilities and its strong partnership with landlord CareTrust REIT (Nasdaq: CTRE). CEO Christopher Christensen touted Ensign’s progress on bolstering operations at buildings the Mission Viejo, Calif.-based operator took over in 2017 […]

$25M Skilled Nursing Facility Planned in Florida; Staged Portfolio Sale in OH

$25M Facility Grows in Florida Greystone Healthcare Management announced the development of a 120-bed skilled nursing facility in Lakeland, Fla., with a target opening date in late 2020. The $25 million project will bring skilled services to the Lake Gibson Village assisted and independent living community, with the goal of creating a “health care resort” […]

Uncertainty Surrounds New ‘Arbitrary’ Skilled Nursing Payment Rules

Early reactions to the finalized skilled nursing payment rules from the Centers for Medicare & Medicaid Services (CMS) are in, with one leading provider group issuing a stark warning about the days ahead. “While the skilled nursing profession welcomes a new payment model, we are concerned with the language in this rule about the Patient-Driven […]

Skilled Nursing Construction Costs Continue to Rise as Tariffs Loom

A tight labor market has continued to drive up construction costs for skilled nursing facilities — and that’s before accounting for the potential effects of disruptive new tariffs from the Trump administration. The cost to build a “high-level” SNF rose from $317 per square foot last winter to $326 this summer, according to the most […]

S&P Warns of ProMedica Downgrade in Wake of ManorCare Acquisition

Standard & Poor’s last week warned that ProMedica Health System’s acquisition of struggling skilled nursing chain HCR ManorCare may lead to a credit downgrade by the end of the summer. While asserting that the non-profit chain still has an A+ rating for its long-term debt, S&P expressed concerns about the way ProMedica funded the transaction, […]

CMS Finalizes New Skilled Nursing Payment Rules, Predicts $820M Funding Boost

The Centers for Medicare & Medicaid Services (CMS) on Tuesday finalized its skilled nursing payment updates for fiscal 2019, formally enshrining the Patient-Driven Payment Model (PDPM) and other changes in a final rule. Under the finalized proposal, the PDPM — which will see therapy payments based increasingly on the complexity of patients’ clinical needs, and […]

CMS Hits 1,400 Nursing Homes with One-Star Reviews Over Staffing Concerns

Less than a month after a New York Times story revealed concerns about insufficient nursing home staffing levels, the Centers for Medicare & Medicaid Services (CMS) handed out nearly 1,400 one-star reviews. Last week, when CMS updated its Five-Star Quality Rating System for nursing homes, 1,387 facilities received one-star ratings for staffing coverage, according to […]

Welltower, ProMedica Close on $4.4B QCP-ManorCare Deal

Just one day after shareholders approved Welltower Inc.’s (NYSE: WELL) acquisition of Quality Care Properties (NYSE: QCP), the rest of the megadeal dominoes fell late Thursday. The Toledo, Ohio-based real estate investment trust (REIT) announced that it had closed on its joint-venture purchase of QCP’s real estate with non-profit hospital system ProMedica. In the same […]

Sabra Takes Proactive Approach to Skilled Nursing Data with PointRight Partnership

Sabra Health Care REIT (Nasdaq: SBRA) last week announced a strategic partnership with health care data analytics firm PointRight, in a move the companies are describing as a more proactive approach to monitoring individual skilled nursing facility performance. Under the agreement, tenants of Sabra-owned nursing homes will be able to use PointRight’s data software for […]

Orianna Strikes Back at Omega Over Terminated Restructuring Deal

Orianna Health Systems fired back at landlord Omega Healthcare Investors (NYSE: OHI), claiming that the real estate investment trust’s (REIT) decision to terminate a restructuring deal will prove detrimental to both parties. “Orianna is disappointed by Omega’s actions, which we believe will only cause delay in finalizing Orianna’s reorganization and impair the recovery ultimately realized […]

Omega Pulls Plug on Restructuring Agreement with Struggling Orianna Skilled Nursing Chain

Omega Healthcare Investors, Inc. (NYSE: OHI) has pulled out of a proposed restructuring agreement with troubled tenant Orianna Health Systems, citing frustration with the process and a desire to protect its shareholders. The Hunt Valley, Md.-based real estate investment trust (REIT) said Monday that Omega will terminate its participation in the deal effective July 25. […]