LTC Properties (NYSE: LTC) has appointed Pam Kessler and Clint Malin to the roles of co-CEO, with current CEO Wendy Simpson stepping back from the role as the company’s top leader. Kessler and Malin are keeping their current titles as co-presidents of the company. Kessler currently serves as CFO, while Malin is Chief Investment Officer […]
Category: Finance
CareTrust REIT (NYSE: CTRE) has acquired a 46-facility skilled nursing and senior housing portfolio for $97 million, the San Clemente, California-based real estate investment trust announced Monday morning. The portfolio is located in the Midwest and is being acquired “in coordination with the bankruptcy and sale of all assets of the debtor/seller,” according to CareTrust’s […]
Capital Funding Group (CFG) closed on a $132.24 million bridge loan to support refinancing of four skilled nursing facilities in Virginia, while MonticelloAM closed $87 million in financing for a Florida-based SNF portfolio. CFG Closes $132.24M in refinancing for 4 SNFs Capital Funding Group (CFG) announced the closing of a $132.24 million bridge loan, on […]
Rick Matros, CEO of Sabra Healthcare REIT (Nasdaq: SBRA), has seen financing come back in a much bigger way for senior housing, compared to nursing homes. Lenders are a lot more selective, and facilities are still recovering from the pandemic years. In terms of the types of financing, particularly with the U.S. Department of Housing […]
Sufficient reimbursement, less regulation and adequate staffing are all attractive features for dealmaking, impacting operator decisions on which states and regions offer the path of least resistance when it comes to expanding their footprint. It may boil down to price per bed and the ease of the change of ownership (CHOW) process when determining desirability […]
Federal agencies are honing in on ownership transparency and corporate-level compliance, most recently with the Office of Inspector General (OIG) citing concerns about certain practices that allow nursing homes to hide profits. OIG’s latest guidance focuses on the practice of “tunneling,” which refers to the misrepresentation or concealment of profitability in payments to related parties, […]
Athena Health Care, once a dominant player in Connecticut’s nursing home sector, plans to close two more facilities in the state, further consolidating its operations as it struggles with financial difficulties stemming from staffing shortages, rising operational costs, and the need for costly building updates. After the closures, which will impact 200 residents, Athena will […]
Medicaid payment rates are insufficient to cover the costs of care, according to a new study that highlights the growing financial challenges faced by nursing homes serving Medicaid residents. The research, conducted by the LeadingAge LTSS Center at the University of Massachusetts Boston and Miami University, reveals a widening gap between Medicaid reimbursement rates and […]
Indiana-based Journey Skilled Nursing acquired eight nursing homes in Georgia, selecting the facilities for their dedication to quality care and strong community connections. These additions to Journey’s growing footprint in the skilled nursing space were announced last week and further strengthen the fledgling company’s presence in Georgia. Journey, which launched in March, already operates Dublin […]
Ensign Group (Nasdaq: ENSG) executives offered an optimistic outlook for the sector and the company’s future, driven by operational improvements, disciplined acquisitions, and the potential easing of regulations and steady reimbursement rates under President-elect Donald Trump, with the minimum staffing mandate likely never seeing the light of day. “Our overall take on [the incoming administration] […]
As the Medicare Advantage (MA) program has continued to grow over the last decade, so too have Institutional-Special Needs Plans (I-SNPs) for care rendered in nursing homes or other long-term care settings. However, there may be slight shrinkage in store for these plans in 2025. According to a KFF analysis of CMS Landscape files, I-SNPs […]
As the skilled nursing industry looks ahead to 2025, analysts are better positioned to project which states are easiest and most difficult to navigate for providers, especially in the wake of political shifts following the election of Donald Trump. Factors such as Medicaid reimbursement rates, regulatory complexity, and labor challenges determine whether a state is […]
Minnesota’s rural nursing homes are grappling with a growing access crisis, marked by a sharp decline in available beds and an increasing demand for services, according to a report released this week by the Center for Rural Policy and Development. The growing shortage of nursing home beds in Minnesota, particularly in rural areas, is driven […]
The state-by-state comparisons of financial and operational metrics provided by CliftonLarsonAllen offer a glimpse into the wide regional variation in post-pandemic economic factors that are influencing the business performance of nursing homes across the U.S. Released Tuesday, the new additions to CLA’s 39th Cost Comparison report titled, “The Great Divergence,” which was issued last month […]
American Healthcare REIT’s (NYSE: AHR) third financial quarter was defined by executing on several key initiatives that have set up the company for future growth. Moreover, leaders unpacked Medicare Advantage contract negotiations and shared plans for staff training among its operating partners, including Trilogy REIT Holdings. One such initiative involved Irvine, Calif.-based AHR acquiring its […]
The Georgia-based PruittHealth has had a year of many challenges, ranging from the fallout of several hurricanes to ongoing staffing issues. Yet, it has been able to position itself for continued growth and transformation as it heads into 2025, according to CEO Neil L. Pruitt, Jr. From deepening its footprint across several states in the […]
MonticelloAM provided $87 million in bridge and working capital financing for a skilled nursing portfolio based in Florida, while CFG provided financing to 16 skilled nursing facilities (SNFs) in California, North Carolina, Iowa, and Florida. CFG provides $76M in financing for 16 SNFs Capital Funding Group (CFG) announced the closing of four transactions totaling more […]
An emergency petition on Tuesday was filed to expedite the conservatorship action brought by the son of Life Care Centers of America CEO Forrest Preston, as other executive members cited year-end obligations. Preston’s son, Aubrey B. Preston, should be appointed as his conservator on an emergency basis, executives said, due to the critical and time-sensitive […]
Nursing home operator PACS Group (NYSE: PACS) delayed the release of its third-quarter earnings, providing only preliminary results on Wednesday as it carries out an internal audit and cooperates with a federal investigation into its referral and reimbursement practices. Originally scheduled for Nov. 7 after market close, PACS now expects to disclose its financial results […]
Athena Health Care Systems, based in Connecticut, has sold off a significant portion of its portfolio to the New York provider National Health Care Associates, marking the second time the operator has sold off assets this year. Athena sold five of its 15 Connecticut facilities for more than $30 million, according to a report in […]
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