The Elderwood chain has been on an acquisition kick in the upstate New York region over the past year, with purchases ranging from assisted living to skilled nursing — and backing from a corporate parent that took a unique route into the SNF world. Post Acute Partners co-founders and co-CEOs Warren Cole and Dr. Jeffrey […]
Strawberry Fields REIT on Thursday announced the acquisition of the 231-bed Landmark of Des Plaines, a skilled nursing facility in the Chicago suburb of Des Plaines, Ill., for $15 million. The current team from operator Landmark, which took over the property in January 2018, will remain in place at the facility under the terms of […]
As the skilled nursing industry continues to move toward higher-acuity residents, many senior living operators have abandoned the space entirely, preferring to leave the increasingly medical business to standalone buildings and rehab partners. But one family-owned operator in Northeast Ohio — which started out in the SNF world five decades ago — believes the future […]
CareTrust REIT (Nasdaq: CTRE) expanded its existing relationship with operator Cascadia Healthcare with the $12.8 million purchase of a transitional care facility in Nampa, Idaho. Cascadia of Nampa, a 99-bed facility one block away from the Saint Alphonsus Medical Center, became the 12th building from the Eagle, Idaho-based operator to enter the CareTrust portfolio. “We […]
The federal government’s lending program for nursing homes has come under national scrutiny in the wake of a record-setting default, but financial leaders in the space say the initiative is vital to the overall health of the industry. The Department of Housing and Urban Development’s (HUD) Section 232 program gives skilled nursing operators and investors […]
Commercial real estate lender Berkadia landed a $104 million loan for a skilled nursing facility in the Bronx, N.Y., the company announced Monday. Berkadia secured the financing for the Workmen’s Circle Multicare Center, operated by the Woodbury, N.Y.-based Cassena Care, through the Department of Housing and Urban Development’s 232/233 program; the loan closed just 13 […]
Merging two overarching storylines in the nationwide coverage of skilled nursing facilities, the New York Times on Monday identified 74 properties on a list of potentially troubled nursing homes that have received federally backed loans. The facilities appeared in a previously unreleased collection of more than 400 SNFs considered for inclusion on the Special Focus […]
Welltower (NYSE: WELL) CEO Tom DeRosa touted a big-picture view of his company’s skilled nursing investments this week, describing post-acute services as part of a larger health care ecosystem — one that is vertically integrated and thinks holistically about care. And because of that, he’s adamant that there’s more to the real estate investment trust’s […]
For the second time in less than a month, a national provider of dialysis services has teamed up with a major skilled nursing operator looking to expand its specialty capabilities — with an eye toward rolling out the program in a significant chunk of its buildings. Signature HealthCARE, which has 115 skilled nursing facilities spread […]
HCR ManorCare and Dialyze Direct on Wednesday announced a cooperation agreement that will bring hemodialysis services to HCR ManorCare’s skilled nursing facilities. Dialyze Direct currently offers services in two of ManorCare’s Chicago-market SNFs, ManorCare assistant vice president Eric O’Neill told Skilled Nursing News. The skilled nursing giant is looking to expand the services to two additional […]
In a skilled nursing landscape short on new development and populated with many options for outsourcing components of care, Carespring has made a point of keeping its rehabilitation services in-house — and only expanding through new construction. With 11 total SNFs in Ohio and Kentucky, Carespring is looking to maintain its local presence while growing […]
Depending on the state they’re in, skilled nursing facilities could jolt flagging finances by adding a behavioral health component to their lineup of services. But they have to proceed carefully. Such services can bolster reimbursement significantly, while also creating additional pressure on hiring, staffing, and programming, according to providers presenting at the LTC 100 conference […]
Bridgemoor Transitional Care opened to the public a newly built short-term rehabilitation facility in Webster, Texas, with a final price tag of $20 million. Specifically targeting post-acute residents, the new Webster facility features 70 private suites equipped with bathrooms, an in-house pharmacy, and dialysis coordination, along with high-end food options and a salon. “Our Webster […]
Generations Healthcare recently broke ground on a new skilled nursing facility in Temecula, Calif., one that will include 116 skilled nursing and rehab beds and 64 memory care and dementia-focused beds. That bed ratio in some ways reflects where Generations president and CEO Thomas Olds, Jr. sees the skilled nursing world going: toward sicker patients […]
A pair of private equity firms on Monday announced a new partnership aimed at developing and buying inpatient rehabilitation facilities, with an eye toward underserved communities — and eventually filling gaps in the care continuum beyond the IRF. Blue Wolf Capital Partners and Peloton Equity, LLC have teamed up to form ClearSky Health, with veteran […]
The Green House Project, a non-profit that offers alternatives to traditional nursing homes, this week launched an initiative designed to broaden its reach — including a financial feasibility model and a newfound focus on short-term rehab services. Both financial feasibility and the growth of short-term rehab are looming factors in the skilled nursing world, where […]
Given their emphasis on rehabilitation and recovery, skilled nursing facilities aren’t typically places where patients receive palliative care. That’s despite the fact that only a small portion of nursing home residents who would benefit from such care usually receive it, according to one study published in 2017 by the Journal of the American Medical Association. […]
As skilled nursing providers assess their competencies in dealing with medically complex patients, one area of care could add to their skill set and boost their patient census: dialysis. Indeed, one SNF — a nursing home owned by Peoria County, Ill. — is expecting to receive an additional $1 million a year through the addition […]
Housing & Healthcare Finance earlier this month pulled off an $81 million refinancing for Cascade Capital Group and its operating affiliate, Legacy Healthcare. The North Bethesda, Md.-based HHC Finance arranged the deal for a six-building portfolio in the greater Chicagoland area, refinancing the buildings through the Department of Housing and Urban Development’s (HUD) 223(f) loan […]
New development in the skilled nursing world has increasingly taken the form of short-term rehabilitation centers, where providers see an opportunity to capture a higher share of the shrinking Medicare pool amid Medicaid and Medicare Advantage pressures. But in certain markets, that strategy may not be a recipe for success. In fact, in some states […]
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