The Ensign Group (Nasdaq: ENSG) is looking to expand into Mid-Atlantic states and cautiously eyeing other opportunities while remaining focused on successfully transitioning recently acquired properties, company leaders said Tuesday. The company recently took over operations of 17 skilled nursing communities (SNFs) in California, as part of a previously announced deal with Sabra Health Care […]
Category: Finance
As the nursing home industry passes the anniversary of sweeping reform initiatives by the Biden Administration, the proposed Centers for Medicare & Medicaid Services (CMS) budget for 2024 includes new dollars to strengthen federal oversight of the industry. Specifically, the proposal seeks to reserve about $566 million for CMS Survey and Certification Program funding, a […]
The skilled nursing sector is in the midst of upheaval, and providers must create and execute on strategies that involve difficult choices and significant financial investments if they hope to thrive in the future. “We are in a period of disruption,” Dana Wollschlager, partner and industry practice leader of senior living development and advisory services […]
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 […]
Nursing homes are facing increasingly severe financial disruption, with revenue per patient day down more than 14% from pre-Covid levels as of 2021. That’s according to analysts at Marcum LLP, a national accounting and advisory services firm, which on Tuesday released its 2023 annual nursing home statistical analysis. In addition to painting a picture of […]
To build relationships that can weather hurdles and succeed in a “new era” for nursing homes, owners and operators should focus on how they can drive mutual growth over time, through symbiotic, creative deals generating long-term value. That’s according to executives with Omega Healthcare Investors (NYSE: OHI) and Providence Administrative Consulting Services (PACS), who spoke […]
The Ensign Group, Inc. (Nasdaq: ENSG) acquired Hampden Hills Post Acute, a 218-bed skilled nursing facility located in Aurora, Colorado, and Mapleton Post Acute, an 84-bed skilled nursing facility located in Lakewood, Colorado, on Wednesday. “We are thrilled about our continued growth in Colorado,” said Barry Port, Ensign’s Chief Executive Officer. “We have admired these […]
Bed pricing for nursing homes remains astronomically high, despite a spate of economic factors that have dampened dealmaking, leading operators surprised and confused about the trend. Unfavorable interest rates, higher costs of care and market inflation have caused M&A activity to normalize, and yet bed prices haven’t budged. Bed prices averaged $97,000 per bed in […]
A new federal program to address workplace violence could cost the nursing home sector $177 million. The Occupational Health and Safety Administration (OSHA) released a document Monday detailing assessment and compliance costs. If enacted, the report states that on average, nursing homes would have to pay $10,000 annually afterward to sustain the programs. “The standard […]
The White House singled out potential harm to nursing homes in its push for more details on the Republican plan to balance the federal budget. The comments from the Biden Administration come after GOP leaders pledged to create a plan to balance the budget within a decade. Details on how that would be accomplished have […]
ProMedica is selling its Heartland hospice and home care business to Gentiva. The deal, announced Monday, comes on the heels of nonprofit health system ProMedica divesting of nearly 150 skilled nursing facilities in a deal involving Welltower (NYSE: WELL) and Integra Health. Gentiva is the largest hospice company in the U.S. based on revenue and […]
The changing nature of the skilled nursing business has enabled Optalis Healthcare to gain scale, adding 21 facilities through three deals executed in the last year. “The business has changed a lot; it takes a lot more in terms of resource deployment,” Optalis CEO Raj Patel told Skilled Nursing News during an interview at the […]
Despite the challenges facing the nursing home industry, National Health Investors Inc. (NYSE: NHI) executives said on Wednesday that the real estate investment trust is on track for stable growth backed by steady performance of its skilled nursing facilities and its portfolio optimization. Still, the REIT’s Q4 2022 results point to ongoing challenges, including two […]
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 […]
Skilled nursing COOs face a slew of challenges, but are also focused on seizing new opportunities to drive clinical quality, expand revenue streams and differentiate their companies in the marketplace. All this, while keeping a close eye on regulatory and reimbursement headwinds. “The opportunities that are out there as we come out of this public […]
LTC Properties (NYSE: LTC) will see progress from its nursing home operator tenants, as facilities find new ways to drive occupancy, increase revenue and lower costs in the midst of a favorable outlook for Medicaid rates rebasing by states. “While the road has been long over the last few years, we are beginning to see […]
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 […]
Three skilled nursing properties in Pennsylvania comprising 395 beds and 32 senior housing units were purchased for $39M, or $91,000 per unit. The seller, represented by Evans Senior Investments (ESI), exited the long term care industry. “The ESI Team was successfully able to showcase how a new regional owner/operator could eliminate the agency staffing issues […]
Despite financial headwinds tied to inflationary costs and staffing shortages, long-term care corporate executives with multi-facility organizations were paid 3.17% more in 2022 compared to the previous year. And, there’s a planned increase of 3.3% from 2022 to 2023 for executives in that space. That’s according to the 2022-2023 Multi-Facility Corporate Compensation Report issued by […]
Following states like Illinois and New York, Connecticut is the latest state to introduce a bill aimed at transforming staffing and requiring transparency changes among area nursing homes. Proposed changes would apply to the more than 200 nursing homes across the state. One change involves boosting minimum staffing hours from 3 to 4.1 per person […]
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