Omega Healthcare Investors (NYSE: OHI) announced changes in key leadership positions on Monday, appointing Matthew Gourmand as its president and Vikas Gupta as chief investment officer. In addition, Dan Booth has stepped down as COO after 23 years in the position. Booth will serve as a consultant for the next year. Gourmand and Gupta were […]
For some nursing home providers, adding new business lines and more brick-and-mortar locations ensures greater longevity by providing better cushioning against larger economic forces. This philosophy allows for a lot of freedom when growing the business, and it keeps nursing home operators from sitting still in a challenging and constantly changing environment. According to Leslie […]
Ninety-two nursing homes have filed a federal lawsuit against the New York State Department of Health (DOH), as the agency approved no reimbursement for older facilities needing capital improvements in 2025. This is an addendum to the state’s 10% reduction for the industry approved in April. The cost-cutting amendment adopted by the state DOH and […]
Construction lending in the nursing home sector remained “virtually nonexistent” with no activity in the first half of the year among lenders, highlighting a continued lack of momentum in this area. A high cost of borrowing and uncertainties around operational challenges further constrain new development, according to a report recently published by the National Investment […]
Strawberry Fields to Buy Facilities in Kansas for $24M Strawberry Fields REIT (NYSE American: STRW) is set to purchase six long-term care facilities in Kansas for $24 million using current working capital, consisting of five nursing homes and one assisted living property. All 354 licensed beds will be leased to Advena Living, led by Willie […]
The “flywheel is racing” for CareTrust REIT (NYSE: CTRE), CEO David Sedgwick said in announcing a renewed and doubled unsecured revolving credit facility at $1.2 billion. The San Clemente, Calif.-based real estate investment trust is on pace to close on approximately $1.5 billion of investments this year, almost seven times its annual average, Sedgwick said […]
The Ensign Group (Nasdaq: ENSG) will be adding eight facilities from Providence Home and Community Care across four states: Alaska, Washington, Oregon and California. This marks the first time the San Juan Capistrano, California-based company is expanding into Alaska and Oregon, Ensign Chief Investment Officer Chad Keetch said in a statement. This brings Ensign’s growing […]
Nursing care and continuing care retirement communities (CCRCs) saw spending grow 9.5% in 2023, the highest it’s been since a big Covid-year surge in 2020 of 11.8%. The space experienced a bit of whiplash between 2020 and 2023, dropping to negative 6.4% growth in 2021 and then 5.9% growth in 2022, according to the national […]
The American Health Care Association, LeadingAge and other nursing home stakeholders involved in the lawsuit against the federal minimum staffing mandate filed their final argument against the rule late on Friday, asking a federal judge to deny the federal agency’s cross-motion for summary judgement. Given that a judgement is expected early in the new year, […]
Nursing home operator American Senior Communities’ former CEO James Burkhart was among nearly 1,500 people whose sentences were commuted as part of the largest single-day act of clemency in modern history by President Joe Biden, who also issued 39 pardons on the same day. Burkhart led a $19.4 million fraud scheme involving nursing homes owned […]
The Centers for Medicare & Medicaid Services (CMS) has issued details on a national staffing campaign for the nursing home sector, aimed at increasing the number of nurses working in nursing homes and at state agencies that inspect nursing homes for compliance. The campaign continues the initiatives outlined in April, which ties $75 million funded […]
The nursing home industry has been on a wild ride this past year, with major regulation up in the air and a flip in the White House leaving operators unsure of whether they should applaud or brace for impact. Rhetoric surrounding the federal minimum staffing mandate has changed drastically throughout the year, with leaders condemning […]
The PACS Group closed on a 11-facility skilled nursing portfolio in Tennessee for an undisclosed amount, while CFG closed out five deals totaling $54 million in the last two months. PACS Group Closes on Tennessee Portfolio Sale The PACS Group (NYSE: PACS) on Dec. 1 closed on the operations of 11 skilled nursing facilities in […]
For-profit nursing home South Jersey Extended Care (SJEC), has been removed from the Medicaid program, after a trio of owners were found to have defrauded the state program out of millions of dollars. All the while, patient care deteriorated and the facility had a one-star rating for a number of years. SJEC demonstrated a pattern […]
Nursing home leaders are anticipating big changes to the sector with President Donald Trump’s inauguration drawing closer. The federal staffing mandate is likely to be on the chopping block, as Republicans eye $22 billion in savings if it is delayed or stopped. However, operators must balance this win, among potential others, with the incoming administration’s […]
Wendy Simpson, CEO of LTC Properties (NYSE: LTC), said she decided to step down from the role after 25 years, noting that a “very capable team” has been built over the years to handle day-to-day operations. “I am confident that the senior leadership team will continue to build a thriving business for years to come,” […]
LTC Properties (NYSE: LTC) has appointed Pam Kessler and Clint Malin to the roles of co-CEO, with current CEO Wendy Simpson stepping back from the role as the company’s top leader. Kessler and Malin are keeping their current titles as co-presidents of the company. Kessler currently serves as CFO, while Malin is Chief Investment Officer […]
Rick Matros, CEO of Sabra Healthcare REIT (Nasdaq: SBRA), has seen financing come back in a much bigger way for senior housing, compared to nursing homes. Lenders are a lot more selective, and facilities are still recovering from the pandemic years. In terms of the types of financing, particularly with the U.S. Department of Housing […]
New reporting requirements related to acute respiratory illnesses for nursing homes will take effect on Jan. 1, according to the Centers for Medicare & Medicaid Services (CMS). Nursing homes must report data related to, but not limited to, the flu, Covid-19 and respiratory syncytial virus (RSV). The rule essentially replaces existing reporting requirements. Questions pertaining […]
Brian Thompson, the CEO of UnitedHealthcare, on Wednesday morning was fatally shot outside a hotel in Midtown Manhattan. Thompson was in NYC for a company investor conference, reports said; police on Wednesday afternoon were still looking for the gunman, who was last spotted in Central Park. Thompson’s death affects the leadership of one of the […]
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