Ensign Breaks Into New Local Market in Arizona, Deepens Footprint in Colorado

The Ensign Group (Nasdaq: ENSG) has added two skilled nursing properties to its portfolio, bringing its overall portfolio to 312 skilled nursing facility operations, inclusive of 29 senior living operations, across 14 states. The latest acquisitions were 32-bed Wellsprings of Gilbert in Arizona, and 58-bed The Springs at St. Andrews Village in Aurora, Colorado. Ensign […]

CareTrust Expanding Footprint in Mid-Atlantic, Southeast in Latest Transactions Totaling $180M

CareTrust REIT (NYSE: CTRE) on Monday announced two strategic transactions totaling $180 million, five- and eight-facility skilled nursing portfolios both located across the Southeast and Mid-Atlantic. The larger transaction, which consists of 1,011 beds and 150 assisted living beds, was funded by a $90 million senior mortgage loan and $9 million preferred equity investment, the […]

[UPDATED] LaVie Files for Chapter 11 Bankruptcy, Citing Skilled Nursing Sector Challenges, ‘Legacy Liabilities’

LaVie Care Centers, operator of 43 skilled nursing and assisted living facilities, filed for Chapter 11 bankruptcy on Sunday. Intending to facilitate an efficient financial restructuring plan with minimal disruption to its operations, LaVie filed voluntary petitions for relief under Chapter 11 in the U.S. Bankruptcy Court for the Northern District of Georgia. Despite the […]

Massachusetts Nursing Home Gets $9.75M Loan, 5 North Carolina Facilities $36.2M Through Capital Funding Group

Capital Funding Group (CFG) has successfully closed a $9.75 million Bridge-to-HUD loan to refinance a 123-bed skilled nursing facility in Massachusetts. The transaction was completed on May 1, 2024, for a nationally recognized borrower. “CFG has been a cornerstone in the healthcare financing sector for more than 30 years, and we’re proud to help yet […]

PACS To Expand Footprint with 53-Facility Portfolio, Adding Nursing Homes in 8 States, ‘Substantially Surpassing’ Forecast

PACS Group (NYSE: PACS) plans to acquire the operations of 53 skilled nursing facilities as well as assisted and independent living facilities located across eight states, including five new markets for the company. The facilities in the pending deal are currently operated by family-owned Prestige and comprise 2,511 skilled nursing beds and 1,334 assisted living […]

JAMA: A Wider Adoption of Value-Based Care at Nursing Homes Is Stymied by Operational, Financial Challenges

Operational and financial challenges can make it difficult for nursing homes and other health care facilities to transition to the federal government’s Value-Based Program (VBP), which ties payment to quality and outcomes. An editorial published in JAMA Internal Medicine Monday expresses the need for more data and improved measurement of outcomes, better methods of financial […]

Petersen Health Mulling Offers To Sell Nursing Homes as Dispute With Lender Settled Amid Bankruptcy

The sale of Petersen Health Care’s properties will now proceed after a deal was reached with one of its lenders to allow a court-appointed receiver to maintain operations of the nursing home giant’s eight Illinois facilities. Among the largest nursing home operators in the nation, Petersen filed for bankruptcy in March. The sale of these […]

PACS CEO: In Tough Landscape for Nursing Homes, Empowering Local Leaders, Serving Higher Acuity, Avoiding ‘Wrong Capital’ Is Crucial

Scaling up by empowering regional operators has long been a successful strategy for nursing home giant PACS Group (NYSE: PACS), but this growth hasn’t come at the expense of losing its identity nor by over-leveraging itself using high-interest debt, according to CEO Jason Murray. For PACS, which debuted on Wall Street in April, its steady […]

Legislation To Overturn CMS’ Nursing Home Staffing Mandate Introduced in Congress

A Congressional Review Act (CRA) to overturn the federal government’s minimum staffing rule for nursing homes was introduced on Tuesday by Representatives Michelle Fischbach (R-Minn.) and Greg Pence (R-Ind.). The legislation aims to reverse the Centers for Medicare & Medicaid Services’ (CMS) staffing mandate.  “The CRA represents a joint resolution (simple majority that can’t be […]

Touting Local Care, Robust Pipeline, Nursing Home Giant PACS Group Shines in Q1 After IPO Debut

During its inaugural earnings call following an April debut on Wall Street, executives for PACS Group (NYSE: PACS) projected a strong year of growth ahead amid a robust pipeline as they touted the success of their company’s localized business model – one that has enabled it to successfully transform scores of struggling facilities into high […]

American Healthcare REIT Eliminates Agency Staffing Costs, Expands Portfolio in First Quarter

Executives for American Healthcare REIT (NYSE: AHR) said that long-term care’s operational environment has normalized, allowing the company to eliminate most of its agency staffing and labor expenses.  “[Decreased agency use] is a very positive development,” Gabe Willhite, chief operating officer, said during the company’s first quarter earnings call. “And there’s nothing to suggest that […]

AHCA/NCAL: Nursing Home Staffing Rule Will Cost $6.5B Annually, Require 102,000 Extra Clinicians, Displace a Quarter of Residents

The nursing home minimum staffing rule is estimated to cost the industry a staggering $6.5 billion per year, and would require an additional 102,000 clinicians, according to a new analysis released Thursday by the American Health Care Association and National Center for Assisted Living (AHCA/NCAL). To fulfill the rule’s requirements, more than 77,000 certified nurse […]

NHI Execs Eye $100M in Deals, Call for a ‘Compromise’ On Nursing Home Staffing Mandate Amid Labor Shortages

Executives for National Health Investors, Inc. (NYSE: NHI) said Tuesday that they are starting to see more deal activity and an increased volume of new inquiries in the last several months.  “We’re looking at opportunities across the continuum of senior housing and skilled nursing, and across multiple products including loan, lease, and joint venture opportunities,” […]

Over One-Third of Nurses Considering Career Change in 2024 Amid Staffing Mandate Challenges

Over one-third of nurses are considering changing careers this year, signaling a potential job churn for the industry – which may prove especially concerning for operators in the wake of the final minimum staffing mandate. This is according to a recent study conducted by AMN Healthcare, which surveyed 1,155 nurses regarding their career outlook for […]

Legislators Question Corporate Profits at 3 Nursing Home Giants Amid Efforts ‘To Kill’ Staffing Rule

The corporate spending of three publicly traded nursing home companies are at the center of questioning by legislators, who sent letters to them Sunday demanding more information on executive compensation, stock buybacks and dividends. In the midst of the industry’s opposition to the federal government’s minimum staffing mandate, the letters signed by the Senators Elizabeth […]

CareTrust Executives On Strong Balance Sheet, Historic Opportunities for ‘Chasing’ Larger Nursing Home Deals 

Despite high interest rates, CareTrust REIT (NYSE: CTRE) is well positioned to invest and gain from the steady flow of attractive investment deals prevalent in the skilled nursing sector today, with executives underlining the company’s access to capital to feed a historic robust phase of growth. “We conservatively established a fortressed balance sheet for times […]