With wildfires threatening multiple communities in Northern California, skilled nursing and other senior living operators are facing a dilemma all too familiar to those who work in the Gulf Coast states: to evacuate or not to evacuate? For some, the choice was clear: In Santa Rosa, Calif., officials at four Oakmont Senior Living communities evacuated 350 residents […]
Former Golden Living Building on Block for $1 A Pennsylvania building that once housed a Golden LivingCenter nursing home could sell for as little as $1. That’s the current bid as of Tuesday afternoon in an online auction for the defunct SNF in Cambridge Springs, Pennsylvania. Crawford County authorities currently own the 34,067-square-foot building, which was […]
With yet another storm affecting the Gulf Coast — this time Hurricane Nate — the Florida government continues to plan its response to the nursing home deaths in the wake of Hurricane Irma last month. Here are some of the latest updates: Gov. Rick Scott has called for an amendment to the state’s constitution that […]
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. […]
As Medicare Advantage becomes increasingly common in the skilled nursing space, consumers may still have trouble determining whether a plan works best for them — or even provides quality coverage with access to a wide variety of physicians and SNF care. And even if a potential MA enrollee finds a plan that appears to cover […]
House Democrats on Wednesday called on Centers for Medicare & Medicaid Services (CMS) Administrator Seema Verma to change her mind on reinstating the use of arbitration clauses in skilled nursing contracts. Referencing the recent problems at nursing homes in the aftermaths of Hurricanes Harvey and Irma, 46 Democratic representatives wrote a letter to Verma asking […]
KeyBank Finances Kindred Sell-Off Deal KeyBank Real Estate Capital underwrote a $128 million loan for BM Eagle Holdings, the joint venture currently in the process of purchasing Kindred Healthcare’s (NYSE: KND) entire skilled nursing portfolio. The cash helped BM Eagle — a joint venture operated by affiliates of BlueMountain Capital Management, a New York City-based […]
Sabra Healthcare REIT, Inc. (Nasdaq: SBRA) last week made its first major skilled-nursing deal since merging with Care Capital Properties, buying the real estate associated with 24 SNFs for a total of $430 million: $378 million for the 21 properties that have already closed, and $52 million for three more set to close by the end […]
CareTrust REIT, Inc. (Nasdaq: CTRE) continues to snap up skilled nursing facilities previously operated by Kindred Healthcare, Inc. (NYSE: KND), announcing on Tuesday the acquisition of 13 properties in Washington, Texas and Idaho. The deal includes all seven former Kindred SNFs in Idaho, which are now operated by the Eagle, Idaho-based provider Cascadia Healthcare, LLC, as […]
Kindred Healthcare, Inc.’s (NYSE: KND) exit from the skilled nursing industry continued Monday morning as the company announced the formal sale of 14 more SNFs. The Louisville, Ky.-based operator offloaded 12 of those properties, along with four assisted living facilities, as part of an ongoing transaction with buyer BM Eagle Holdings. The 16 properties had […]
Department of Health and Human Services secretary Tom Price resigned from his post Friday amid an investigation into his use of private jets at taxpayer expense. The government spent more than $1 million for Price’s travel on private and military aircraft since May, according to Politico, which first reported on the secretary’s travel habits. Those […]
Nursing home complaints handled by state authorities rose by one third between 2011 and 2015 — even as occupancy at skilled nursing facilities declined slightly. In addition, a handful of states accounted for the majority of late investigations, according to a new data brief from the Department of Health and Human Services’ (HHS) Office of the […]
Three years ago, filmgoers were charmed by the story of a non-profit that helped nursing home residents relive their youths and improve their moods through music. Now, a team of Brown University researchers is setting out to discover whether the program could have concrete medical benefits for seniors — and operational opportunities for skilled nursing […]
LeadingAge Florida struck back against the state’s quick-turnaround plan to require backup generators in nursing homes, saying the timeline is simply impossible to meet. The Tallahassee, Fla.-based group, which represents more than 100 non-profit skilled nursing facility and assisted living facilities throughout the Sunshine State, is seeking more time for its members to comply with […]
Just weeks after providers in Texas and Florida dealt with the devastating effects of hurricanes, skilled nursing and other health care operators still face a dire situation on the island of Puerto Rico a week after Hurricane Maria made landfall. Here’s the latest: Communication with the U.S. territory remains difficult, but a few pieces of […]
Diversicare and Omega Negotiate New Master Lease Omega Healthcare Investors (NYSE: OHI) entered into a new master lease with tenant Diversicare Healthcare Services, Inc. (Nasdaq: DVCR), locking in 35 properties for the next 12 years. The move will consolidate two separate leases currently shared between the Brentwood, Tenn.-based Diversicare and the Hunt Valley, Md.-based Omega: […]
News about the nursing home deaths in Hollywood, Fla. continues to unfold, with each day bringing more information about the scene inside the facility — and the longer-lasting impact that the tragedy at the Rehabilitation Center at Hollywood Hills will have on the skilled nursing industry as whole. The latest: Industry leaders met at a […]
Sabra Health Care REIT (Nasdaq: SBRA) on Monday announced a pair of major moves, revealing a plan to buy 24 skilled nursing and transitional care units on the West Coast — and taking concrete steps to sell off its remaining 43 properties operated by Genesis HealthCare (NYSE: GEN) by the end of next year. The […]
HCR ManorCare President and CEO Paul Ormond has left his position as the skilled nursing provider continues to work through a potential restructuring with its landlord, real estate investment trust Quality Care Properties, Inc. (NYSE: QCP). The Bethesda, Md.-based REIT first announced Ormond’s departure from HCR ManorCare on Monday; he has already been replaced by […]
The industry continues to sort out what went wrong in Florida, but there were other headlines from the week in skilled nursing, including some grim numbers from the National Investment Center for Seniors Housing & Care (NIC) and an interesting ownership shuffle for some former Kindred facilities. First, the bad news: Nursing home occupancy dipped […]
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