Saber Snaps Up 10 Nursing Homes in Pennsylvania, Plans Multi-Million Upgrades

Saber Healthcare Group took over the operations of 10 Pennsylvania nursing homes from the non-profit Oak Health & Rehabilitation Centers, Inc. Affiliates of Formation Capital will remain the landlords of the facilities. The Philadelphia Inquirer first reported on the transaction. The lease structure with the Cleveland-based Saber is “entirely new,” with an initial term of 10 years, […]

Monticello Provides $45.3M Financing; Two Illinois SNFs Sell for $5.5M

Monticello Provides $45.3M Financing for NY Portfolio An affiliate of Monticello Asset Management landed $45.3 million in first-lien debt financing for a company that’s acquiring a skilled nursing facility and two adult day care facilities, ABL Advisor reported. The SNF has 242 beds and offers skilled nursing services and physical, occupational and speech therapies. The mortgagor, […]

Facilities Grab Increased Share of Hospital Discharges

Despite concerns about the rise of home health in the era of value-based care, institutional post-acute care (PAC) use among Medicare beneficiaries actually rose between 2000 and 2015 — while discharges to the home fell over the same time period, according to a research letter published in JAMA. Specifically, the adjusted percentage of nearly 138 […]

Consulate Reaches Agreement to Preserve 55 Florida Nursing Home Licenses

Consulate Health Care reached an agreement with the Florida Agency for Health Care Administration (AHCA) to improve quality and protect its portfolio of nursing homes from being penalized for failures at two facilities, The Ledger reported. “We are grateful for the partnership between Consulate and the Agency for Health Care Administration,” Jennifer Trapp, vice president of […]

Genesis Sells 51% Stake in Chinese Subsidiary for $30 Million

Genesis HealthCare has signed a definitive agreement to sell 51% of its Chinese subsidiary, GRS-HS, to Riswein Health Industry Investment for $30 million. The deal is expected to close in the first quarter of 2019, subject to regulatory and licensing approvals and other customary conditions. GRS-HS will seek approval for a new, wholly owned foreign […]

As Managed Care Grows, Skilled Nursing Providers Have Leverage

Skilled nursing providers are adding value for managed care payors, and they need to be willing to tout it in contract negotiations, according to one executive. “[Managed care] is coming your way,” Anthony Laflen, director of data analytics at Consonus Healthcare, told a room full of nursing home operators at LeadingAge Illinois’ annual conference in Schaumburg, Ill. […]

Avante Group Plans to Sell Batch of Facilities to SentosaCare

Avante Group, a nursing home group based in Hollywood, Fla., is selling all six of its facilities in North Carolina, with an effective closing date of June 1. SentosaCare, based in Webster, N.Y., is the proposed buyer, the Winston-Salem Journal reported, and the number represents a reduction in Avante’s footprint by half. Avante submitted a Worker […]

Lancaster Pollard Secures $23.1M Refi; Drug Rehab Moves into Nursing Home

Greystone Real Estate Advisors Closes $6.3M SNF Sale in Texas Greystone Real Estate Advisors closed the sale of Nazareth Living Care Center, which was purchased by Chicago-based Mozart Healthcare, LLC for $6.3 million. Nazareth Hall, a non-profit Texas corporation, was the seller. The skilled nursing facility in El Paso, Texas, has 124 licensed beds, and Paramount Healthcare […]

Data is Essential for Skilled Nursing Facilities to Thrive in New World

In the face of the changing payment landscape, skilled nursing providers can’t afford to put off data collection. In fact, there’s a lot of information gathering they must be doing now to adapt to value-based payments, Bundled Payments for Care Improvement (BPCI), the rise of Medicare Advantage (MA), and a host of other changes, Leah […]

One in Five Ohio Nursing Home Residents on Medicaid is Under 65

Nursing homes in Ohio are seeing younger residents use the facilities, with one in five long-stay Medicaid residents below the age of 65, according to a study from Miami University’s Scripps Gerontology Center. The study, recently covered by Crain’s Cleveland Business, focused on Medicaid residents who stay for 100 days or more, using data from the Centers […]

Extra CMS Stars Decrease Chances of Long-Term Nursing Stays

Post-acute residents in skilled nursing facilities with excellent quality ratings are much less likely to transition to long-term care (LTC) than those in lower-quality SNFs, according to a study published last week in the Journal of the American Geriatrics Society. “Individuals in SNFs with excellent quality ratings had 22% lower odds of transitioning to LTC […]

Illinois Supportive Living Facilities Lock in $55.3M in HUD Loans

Housing & Healthcare Finance (HHC Finance), a commercial finance company based in Washington, D.C., closed four Department of Housing and Urban Development (HUD) loans totaling $55.3 million for a portfolio of four supportive living facilities in Illinois. Two of the facilities serve the 65-and-older market, and the level of care provided at the facilities falls somewhere […]

Traditional Lenders Take ‘Selective’ Approach to Skilled Nursing

Headwinds are ripping the skilled nursing industry from the ground up, and financing is no exception, according to a debt financing panel at the National Investment Center for Seniors Housing & Care Spring Investment Forum in Dallas. “We are being selective in our approach to skilled nursing and there’s no two ways about it,”  Jeff […]

MidCap Closes $75 Million Mortgage Loan for 18 Genesis Facilities

MidCap Financial Closes First Mortgage Loan on 18 Genesis SNFs MidCap Financial, a middle market-focused commercial finance company, closed a $75 million first mortgage loan with Genesis HealthCare, Inc. (NYSE: GEN). The floating rate loan is secured by 18 skilled nursing facilities across eight states with 2,153 operating beds, and is part of a $630 […]

Perceived Risk Hides Potential Upsides for Skilled Nursing Investors

The headlines for the skilled nursing sector include such uplifting topics as bankruptcies, lawsuits, and declining occupancy — to name just a few — and are enough to make any investor think twice about putting money in the industry. But “the perceived risk is higher than actual risk” in the sector, at least according to […]

Skilled Nursing Providers Could See Higher Insurance Bills

Long-term care (LTC) and senior living providers won’t catch a break — at least on liability insurance rates — in 2018, according to a new report from advisory firm Willis Towers Watson. The insurance rates for LTC and senior living operators are expected to increase anywhere from 5% to 20% this year, and in “deteriorating […]

Troubled Skyline Highlights Problems with Under-the-Radar Skilled Nursing Operators

Skyline Healthcare’s troubles in Nebraska and Kansas have highlighted how large companies in the nursing home industry have abandoned the business to lease bunches of facilities to unknown firms. The Philadelphia Inquirer took a deep dive into Skyline’s takeover of more than 100 nursing home sites across multiple states — and the general lack of information about […]

Nursing Care Occupancy Rate Inches Upward in First Quarter

Nursing care occupancy improved from the fourth quarter of 2017, according to new data from the National Investment Center for Seniors Housing & Care (NIC). The nursing care occupancy rate improved from 86.2% in the fourth quarter to 86.5% in the first quarter of 2018. The annual inventory growth rate for nursing care, on the other […]

Unlike in Other Settings, Telehealth Could Spur Skilled Nursing Savings

The use of telehealth services is commonly floated as a way to improve care and reduce health care spending at skilled nursing facilities, particularly rural ones. But there are several factors that drive the effect of telehealth on medical spending, and in practice, spending will drop only in specific situations, according to an opinion piece […]

Golden Living Shopping $33M Corporate Office for Sale or Lease

Golden Living placed its corporate administration building in Forth Smith, Ark., up for sale or lease on Tuesday, with real estate broker CBRE hired to handle the property. Golden Living is expected to maintain a presence in Fort Smith, Pat Powell, vice president of Human Resources at Golden Living, told the Times Record. However, staffing […]