Plum Healthcare Lands $22.5M for New Development; $18.4M Bridge Financing for Kentucky Portfolio

Lancaster Pollard Mortgage Company arranged $22.5 million in development financing for Plum Healthcare Group, LLC to build a new skilled nursing facility in Walnut Creek, Calif. The Columbus, Ohio-based firm worked with a local banking partner on the transaction; Grant Goodman led the transaction for Lancaster Pollard Mortgage Co., along with Joe Munhall, who leads […]

Orianna Close to Wrapping Bankruptcy as Former Owner Returns to Fold

Orianna Health Systems, a skilled nursing operator that entered a protracted and litigious bankruptcy last year, will effectively cease to exist after its plan of liquidation was confirmed last week. In a separate process, the company also transferred the ownership and the operations of 15 remaining facilities owned by the bankrupt operator, legally known as […]

Sanford: Adding Skilled Nursing Provider Good Sam Boosts M&A Profile

Adding skilled nursing provider Evangelical Lutheran Good Samaritan Society could make hospital network Sanford Health even more attractive to other health systems – even as the newly combined non-profit tries to dismantle the silos between acute and post-acute care. That’s according to David Horazdovsky, Good Samaritan’s CEO, and Randy Bury, who transitioned to the role of […]

Behavioral Telehealth Company with 190 SNF Clients Lands Series A Funding, New CEO

A behavioral telehealth company focused on caring for Medicare populations in rural areas — including skilled nursing residents — closed a Series A Preferred growth equity funding round led by Spring Lake Equity Partners. The Novato, Calif.-based Forefront Telecare also added Rob Rebak, who previously served as president and CEO of behavioral telehealth platform AbleTo, […]

Continuing Healthcare Takes Over Zandex SNFs; New Facilities in Texas and Wisconsin

Continuing Healthcare Solutions, a network of senior living communities based in Middleburg Heights, Ohio, took over seven skilled nursing facilities and an assisted living property that used to be operated by Zanesville, Ohio-based Zandex as of December 28, 2018. The Times Recorder reported the news. Zandex reached a purchasing agreement with CHS after almost three […]

CMS Spells Out Expanded Skilled Nursing Waiver Requirements for ACOs

The Centers for Medicare & Medicaid Services (CMS) provided details this week on what accountable care organizations (ACOs) have to do to receive waivers of the three-day inpatient stay requirement for skilled nursing care in updated guidance. ACOs consist of hospitals, physicians, and other health care providers that band together to provide care to Medicare […]

Even With Software, Hospitals and SNFs Struggle with Care Coordination

Seamless handoffs between nursing homes and skilled nursing facilities are an integral part of care coordination efforts under new payment models — and, in turn, financial success. But new study determines that even when providers have tools to ease patient handoffs, they find them hard to use to achieve their goals — or decline to […]

Citadel Healthcare Acquires ManorCare Facility; Lancaster Pollard’s SNF Bridge Loans

Citadel Healthcare Acquires Illinois ManorCare SNF Citadel Healthcare acquired ManorCare of Northbrook in Northbrook, Ill., for an undisclosed amount, The Daily Herald reported. The facility, which has been renamed The Citadel of Northbrook, is the 10th location for Citadel, according to the publication. The company is based in Morton Grove, Ill., according to its LinkedIn […]

Welcov Healthcare Going Out of Business, Reports Say

Welcov Healthcare, a nursing home and senior living operator based in Edina, Minn., is in the process of “winding down operations,” according to local media reports. The company is going through a reorganization and is in the process of shutting down operations, though it remains committed to two facilities in Torrington, Wy., Welcov president Tom […]

Without Incentive to Share Savings, ACOs Add to SNFs’ Financial Headaches

It’s been a common refrain in the industry: To survive in a health care system increasingly moving to value-based payment models, skilled nursing facilities will have to form strong partnerships with hospitals, health systems, and accountable care organizations (ACOs). But doing that will be difficult if acute care facilities and ACOs aren’t interested in forging […]

New York Lawmaker Moves to Bolster Nursing Home Oversight

New York State Senator Rob Ortt said in late December that he would propose a package of bills aimed at strengthening nursing home oversight in the Empire State. The move was sparked by a series of stories published by The Buffalo News on problems at local nursing homes, as well as by complaints Ortt received […]

Skilled Nursing Turnaround Specialist Sees ‘Continued Distress’ in 2019

The skilled nursing industry was roiled on several fronts in 2018. The new Medicare payment model from the Centers for Medicare & Medicaid Services was a major headline, but the year was also marked by several high-profile bankruptcies, receiverships, and general distress among SNFs. And the leader of a Connecticut-based operator that specializes in managing […]

White Oak Provides $161M For SNF Transaction; $21M Refi in IL

White Oak Provides $161M For Allegiant Healthcare’s 17-SNF Acquisition White Oak Healthcare Finance made another major financing for a skilled nursing transaction to kick off 2019. The affiliate of White Oak Global Advisors, LLC acted as sole lender and administrative agent for the funding of a $161 million senior credit facility for Allegiant Healthcare and […]

Good Samaritan and Sanford Health Complete Merger

The Evangelical Lutheran Good Samaritan Society, one of the largest non-profit senior living and care providers in the U.S., on Wednesday officially completed its marriage to Sanford Health. As a result of the combination, Sanford Health now employs almost 50,000 people. As of June 2018, when the combination of Good Samaritan and Sanford was approved […]

Three-SNF Sale in Tennessee; Athena Health Care Systems Buys Connecticut SNF

Benedictine Health System Buys Nursing Home It Operates in Minnesota The ownership transfer of Benedictine Living Community, a nursing home in St. Peter, Minn., to Benedictine Health System was finalized by the City Council last week, The Mankato Free Press reported Tuesday. The move also terminated the old lease for the property. Benedictine Health System […]

CareTrust Buys Colorado SNF for $19.6M, Marking Another Expansion with Eduro

CareTrust REIT, Inc. (Nasdaq: CTRE) on Thursday announced the acquisition of a 154-bed skilled nursing facility in Parker, Colo., which will be operated by the Salt Lake City-based Eduro Healthcare, LLC — the latest step in a growing partnership between the operator and the real estate investment trust (REIT). The SNF, which was built in […]

County SNF Expands Services to Survive; REIT Snaps Up West Virginia Building

Birchwood Sells West Virginia SNF/ALF to Public REIT Blueprint Healthcare Real Estate Advisors announced the sale of a skilled nursing and assisted living facility, Madison Park Healthcare in Huntington, W.V., to a public real estate investment trust (REIT). Blueprint arranged the sale for the seller, Birchwood Healthcare Partners, which focuses on seniors housing and nursing […]

As Lengths of Stay Decline, Drug Costs Loom Larger in Skilled Nursing

Escalating drug costs have made headlines in the health care sector at large in recent months, and as patient length of stay (LOS) declines, skilled nursing facilities are particularly feeling the pinch due to their unique supply requirements. For Transitional Care Management, which has two skilled nursing locations in Illinois, the average cost of medications […]