As rising acuity and reimbursement challenges stymy nursing home workforce growth, third party contracts have been increasingly responsible for providing daily services. Whether its providing resident-facing clinical work, including use of third party doctors, supplying medical equipment or rendering back office services that focus more on ensuring proper documentation for reimbursement, third parties are increasingly […]
With an ever increasing aging population that is sicker with higher acuities, COO Shawn Neville of SALMON Health and Retirement says capturing an accurate financial picture is a challenge for nursing homes – and an additional reason why so many are closing down. Neville was named to his current position at the family-owned and Massachusetts-based […]
Blueprint Healthcare Real Estate Advisors announced that it brokered the sale of a Texas-owned and operated portfolio of seven skilled nursing facilities with 564 beds to a seller in the Lone Star state, despite an “ever-changing and difficult capital market environment.” The SNF portfolio is geographically clustered in Central and East Texas and has an […]
Accolade Healthcare, a skilled nursing provider based in Illinois, launched a video campaign to help with recruitment, which has been running for over a year and has made a positive workforce impact — and awards for the organization. Launched in 2017 Accolade Healthcare provides care in six skilled nursing facilities across central Illinois, where its […]
Greystone Monticello on Monday announced the swift closing of $201.3 million in capital financing for a portfolio of New Jersey SNFs. The majority of financing – $191.3 million of it – was for a health care bridge loan, while $10 million was for a working capital facility on behalf of Peace Capital. Greystone, a private […]
Trilogy Health Services today announced plans to expand into Wisconsin starting with two facilities, bringing its roster of campuses to nearly 130 across five states. The newly acquired properties – Sun Prairie Senior Living and Waunakee Valley Senior Living – both offer post-acute health care services. Both also offer assisted living, and Waunakee has an […]
Last week, Cascadia Healthcare officially took over management of three facilities formerly operated by the Evangelical Lutheran Good Samaritan Society, with the remaining six buildings in the transitioning portfolio scheduled to follow suit in April and May. The transition process is going smoothly, with each building presenting a “microcosm of opportunity,” Cascadia President and CEO […]
Real estate investment trust Strawberry Fields announced late Thursday that it would start trading on the New York Stock Exchange (NYSE) starting on Feb. 22 under the symbol STRW. The REIT has been trading on the over-the-counter marketplace (OTCQX) since September of last year. For Strawberry Fields CEO Moishe Gubin, the plan was always to […]
Colorado-based Vivage Senior Living announced its merger with Beecan Health Colorado, bringing together 42 skilled nursing communities under one integrated network of care. That’s nearly 3,600 combined licensed beds across the state of Colorado, Vivage said in a statement. The companies chose to merge their Colorado footprint in order to reach more people in need […]
The Ensign Group (Nasdaq: ENSG) on Wednesday announced that the company is assuming operations of 17 skilled nursing communities in California, as part of a previously announced deal with Sabra Health Care REIT (Nasdaq: SBRA). That deal involves 20 communities total, which previously were operated by North American Health Care. The properties located in Ensign’s […]
As skilled nursing industry leaders push for new initiatives and launch resources to address the crushing labor shortage, Phil Fogg, president and CEO of Oregon-based Marquis Companies, said his company has had difficulty fulfilling the largest number of job openings it has ever experienced in 33 years of business. Marquis is hardly alone in confronting […]
Among other spending allocations, Congress released an omnibus bill with provisions related to nursing homes and long-term care. The spending package calls for a “strategy for long-term care for aging veterans” and a study on the costs of serious mental illness, including in skilled nursing and long-term care facilities. The bill, which Congress is expected […]
In the wake of the pandemic, nursing home operators have needed to continually assess and shift their strategies as the industry contends with workforce shortages and regulatory headwinds. North American Health Services is one such provider, and is now moving forward with a smaller portfolio and intentions to build up its workforce, leveraging the fact […]
While many nursing home operators saw a reduction in skilled nursing beds this year – especially not-for-profit organizations in rural areas – some operators were able to buck the trend and continue to grow in the space. Specifically, larger operators with resources to respond to market trends continued to see growth despite staffing challenges and […]
While many owners in the skilled nursing space saw a reduction in beds this year, the biggest losers were overwhelmingly government entities and not-for-profit organizations, while for-profit entities have lost far fewer beds. In terms of bed reduction by location, rural markets largely took the hit, according to Lisa McCracken, director of senior living research […]
CareTrust REIT (NYSE: CTRE) on Monday announced a change in leadership with James Callister stepping into the role as chief investment officer at the end of the year. Current Chief Investment Officer Mark Lamb is stepping down to pursue entrepreneurial opportunities, the company shared in its news release. Callister, who currently serves as executive vice […]
Loans and other types of financing through the Department of Housing and Urban Development (HUD) may be key to incentivizing operators to seek innovation, such as scaling the small home model in a meaningful way – but the program isn’t quite at that point yet. The National Academy of Sciences, Engineering, and Medicine (NASEM) report […]
VIUM Capital announced that it closed on a $136,784,000 bridge loan in October that will be used to acquire the real estate of 17 Indiana-based skilled nursing facilities. The deal marked one of VIUM’s largest single transactions to date under time pressure and without the need for syndication or partnership, according to Executive Managing Director […]
As one of, if not the largest nursing home operator in the country, The Ensign Group (Nasdaq: ENSG) has quickly filled turnaround properties with a robust talent pipeline – including having 30 to 40 administrators-in-training at all times – despite a historic staffing shortage. Leadership also delved into why the Texas Medicaid rate is such […]
As Invesque (TSE: IVQ.U) continues its move toward a primarily private-pay, seniors housing portfolio, the company announced it is down to only four skilled nursing operator relationships across 17 properties. The Canadian-listed company with U.S. headquarters in Indiana announced its latest SNF divestitures during the third quarter, according to CEO Scott White: the $25 million […]
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