Ensign Group’s (Nasdaq: ENSG) acquisition of a Nebraska-based health care campus with an 83-bed skilled nursing facility expands its portfolio to 324 operations across 14 states. Meanwhile, Ziegler closed $48.7 million in acquisition financing for EveryAge and $82.27 million in financing for Presbyterian Retirement Communities Ensign acquires health 83-bed care campus in Nebraska The Ensign […]
CareTrust REIT (NYSE: CTRE) announced Thursday the acquisition of a four-facility, 396-bed skilled nursing portfolio located in the Mid-Atlantic region for approximately $74.7 million. This acquisition includes a skilled nursing and assisted living campus with 47 assisted living units. As part of the acquisition, CareTrust entered into a triple-net master lease with a new operator […]
The Centers for Medicare & Medicaid Services (CMS) released a draft Minimum Data Set (MDS) on Tuesday, and while the changes are minimal, clinical and reimbursement experts noted that they could lead to reduced control over certain quality reporting measures. However, the earlier-than-anticipated release also suggests that the federal agency aims to give operators a […]
For its Quality Reporting Program, the Centers for Medicare & Medicaid Services (CMS) is exploring the possibility of expanding nursing home data collection and submission to all residents, regardless of payer type. Officials heard feedback on the challenges and benefits of such a move during a listening session held on Tuesday. If the federal agency […]
Construction began on Sanford Health’s long-term care property in Sioux Falls, which has a capacity for 500 residents and will eventually include 120 short-term rehab and skilled nursing beds. Meanwhile a REIT divested its Florida-based 118-bed skilled nursing facility. Sanford Health’s senior community with SNF component Sanford Health officially broke ground on Monday for the […]
Ziegler closed $67.27 million and $82.9 million in financing for two properties, each with skilled nursing assets, while Strawberry Fields acquired Mabry Health for $6.7 million. Strawberry Fields Acquires Mabry Health Care Strawberry Fields REIT (NYSE: STRW) announced the completion of a $6.7 million acquisition of a healthcare facility in Gainesboro, Tennessee. The property, Mabry […]
Long-term care facilities are struggling to evacuate patients due to logistical hurdles, as Hurricane Helene is expected to make landfall on Thursday night. Some Florida nursing homes, however, have successfully evacuated their residents and are following protocol, according Kristen Knapp, senior director of strategy and communications for the Florida Health Care Association. “Our members have […]
As Florida prepares for yet another hurricane, it serves as a reminder that nursing homes in the area, as well as in other regions prone to extreme weather events, face rising risks and must maintain continued vigilance in following and developing rigorous emergency preparedness plans. Research highlights that older adults are particularly vulnerable during climate-related […]
Nursing home care experienced the most significant price increase among major health care categories in August, but the sector also faced a big dip in employment during the month, with the sector losing 3,600 jobs. That’s according to the latest Altarum Health Sector Economic Indicators (HSEI) briefs for September 2024 released Tuesday. This is the […]
American Healthcare REIT (NYSE: AHR) acquired the remaining 24% minority stake in Trilogy REIT Holdings for a total all-cash purchase price of approximately $258 million. The acquisition included a base purchase price of $247 million and an $11 million pro-rata distribution owed to the former joint venture partner, an affiliate of NorthStar Healthcare Income, AHR […]
Skilled nursing facilities (SNFs) within life plan communities (LPCs) remain pressured even as LPCs overall saw a revival in fiscal 2023, with labor being the biggest challenge for the nursing home assets within these campuses, according to analysts for Fitch Ratings. “The LPCs sector is experiencing a recovery following the post pandemic period that was […]
LeadingAge Illinois and LeadingAge Iowa announced plans to merge this week. Meanwhile, Forest Healthcare Properties closed four separate transactions in September across Massachusetts, New York, and Florida, with the sale of a portfolio of seven facilities in the latter state. Two LeadingAge affiliates merge Effective November 1, 2024, LeadingAge Illinois and LeadingAge Iowa announced plans […]
Several important bills aimed at bolstering the long-term care workforce were passed Wednesday by the U.S. House Committee on Energy and Commerce and will advance to the next stage. The legislation includes the Building America’s Health Care Workforce Act, the Ensuring Seniors’ Access to Quality Care Act, the Congressional Review Act (CRA), and the Telehealth […]
Republicans in the Senate will not pursue a vote for a resolution to overturn the Biden administration’s nursing home staffing mandate. The resolution by way of the proposed Congressional Review Act (CRA) would allow lawmakers to pursue a legislative tool that can fast-track the nullification of the staffing mandate. Senator James Lankford (R-Okla.), who led […]
The Federal Reserve cut interest rates by half a percentage point on Wednesday, marking the first reduction in four years and reflecting a shift aimed at supporting economic growth as inflation shows signs of moderation. Financial experts in the nursing home industry hailed the Fed’s action as “welcome relief.” “[This] is welcome relief for skilled […]
The timing and feasibility of the federal staffing mandate continue to haunt nursing home operators and communities, particularly those in rural areas, where providers across the health care continuum are competing to find clinical staff. Take for example, the case of a nursing home owned by Diversicare Healthcare Services in Yorktown, Texas, which is one […]
Ventas (NYSE: VTR) plans to sell a total of $150 million in nursing home assets, and is close to selling a portion of the Pennsylvania facilities in a market that has proven to be challenging due to its state staffing mandate. The Chicago-based real estate investment trust (REIT) is in the midst of efforts to […]
First Citizens Bank’s Healthcare Finance business served as lead arranger of $115 million in financing for the acquisition of eight skilled nursing facilities in Illinois. The borrower is a Midwest-based healthcare real estate investment and management company that invests in a variety of post-acute facilities, with investments in over 24 states, First Citizens said in […]
Following four deaths and a cluster of cases tied to Legionnaires’ disease at a New York-based assisted living facility, infection prevention experts are cautioning nursing homes to be vigilant about disease spread. Nursing homes have been prime breeding grounds in the past, leading to an outbreak at an Illinois nursing home for veterans and resulting […]
Kaiser Permanente announced the permanent closure of its last nursing home in California, resulting in 249 job losses across various roles. The job cuts involve administrators, physical therapists, dietitians, licensed vocational nurses, and certified nursing assistants. The decision to shut down the facility follows a gradual decline in patient numbers over the last 11 years, […]
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