CMS to Adjust PDPM ‘As Quickly as Possible’ Amid Evidence of $1.7B Nursing Home Payment Increase

The federal government is mulling several options to recalibrate the Medicare payment structure for skilled nursing facilities as it seeks to achieve its intended goal of budget neutrality — with the aim of shutting off excess payments sooner rather than later. The Centers for Medicare & Medicaid Services (CMS) this week determined that the Patient-Driven […]

Skilled Nursing Outshines Senior Living in Short Term, But 2022 Could Bring ‘Wall of Investor Worry’

Given current recovery trends, skilled nursing facilities may continue to prove a safer near-term bet for investors than the traditionally more attractive senior living landscape, according to a new analysis from Mizuho Securities USA — but 2022 and beyond remains deeply uncertain. Speaking at Mizuho’s virtual health care REIT summit on Tuesday, American Health Care […]

Ensign Group Acquires Three More Nursing Homes; Genevive, Medica Expand I-SNP to 140 Buildings

Skilled nursing giant The Ensign Group (Nasdaq: ENSG) on Tuesday announced the acquisition of three new skilled nursing facilities in Colorado. The San Juan Capistrano, Calif.-based Ensign picked up the following three facilities as of April 1: The 140-bed Boulder Canyon Health and Rehabilitation in Boulder The 76-bed Berthoud Care and Rehabilitation in Berthoud The […]

Eduro Enters Texas with Four-Building Nursing Home Pickup; CommuniCare Expands in Ohio

The Utah-based skilled nursing operator Eduro Healthcare last week announced its expansion into Texas with a four-building pickup. Eduro signed a long-term lease to manage the quartet of buildings in Beeville, Cleburn, Hurst, and Lockhart, Texas, with a total of 434 beds. “We are excited about the opportunity to enter the Texas market,” Eduro managing […]

$285M Bridge-to-HUD Financing Secured for 16-SNF Portfolio

Capital Funding Group announced on Monday that it closed $285 million in financing for the acquisition of a skilled nursing portfolio secured by 16 facilities in the mid-Atlantic region, in partnership with its credit venture CFG Credit Partners. The bridge-to-HUD [Department of Housing and Urban Development] financing was for “a nationally recognized borrower” who is […]

$13.5M Acquisition Financing for Four Oklahoma SNFs; $41M Private-Room Renovation in Florida

Vi at Bentley Village in Naples, Fla., announced a $41 million redevelopment project for its skilled nursing facility, the Bentley Care Center, and its assisted living residences, both part of a campus that includes independent living and coach homes. The redevelopment is scheduled to begin in the third quarter of 2021, and includes redesigning the […]

House Hearing Scrutinizes ‘Horror’ of Private Equity Investment in Nursing Homes

For the second time in as many weeks, federal lawmakers scrutinized private equity investment in nursing homes as the probes into the COVID-19 disaster in long-term care continue to intensify. “How many grandmothers and grandfathers died because profits were prized above lives, with our taxpayer dollars funding this?” Rep. Bill Pascrell, who chairs the House […]

Even After Genesis Exit, Fitch Affirms ‘Negative’ Outlook for Welltower, Predicts Permanent 30% Rent Cuts for SNFs

Fitch Ratings announced Tuesday that it “has affirmed and withdrawn all ratings of Welltower, Inc. (NYSE: WELL), including the Long-Term Issuer Default Ratings (IDRs) at ‘BBB+’.” The credit ratings provider also said that the rating outlook for the Toledo, Ohio-based real estate investment trust (REIT) is “Negative,” a reflection of its “elevated leverage profile above […]

PE-Backed Appriss Acquires Skilled Nursing Software Firm PatientPing for a Reported $500M [UPDATED]

PatientPing, a software company that has garnered significant venture capital funding as it looks to ease care transitions between nursing homes and other settings, has sold to Appriss Health, the companies announced Tuesday. PE Hub initially reported the news Monday, citing “people familiar with the transaction”; the two firms formally confirmed that they had reached […]

CareTrust Picks Up Southern California Nursing Facility for $15.9M; Eastern Union’s $57M Bridge Financing

CareTrust REIT (Nasdaq: CTRE) acquired the Buena Vista Care Center, a 150-bed skilled nursing facility in Santa Barbara, Calif., for about $15.9 million, including transaction costs, the real estate investment trust announced March 9. The facility will continue to be operated by Covenant Care under a long-term lease assumed by the San Clemente, Calif.-based CareTrust […]

As Genesis Restructures and Leaves NYSE, the Regionalization of Nursing Homes Hits New Milestone

Over the last several years, regionalization has dominated the mergers-and-acquisitions narrative in nursing homes, with operators and investors increasingly questioning the utility of massive scale in a landscape that depends so heavily on local market factors such as Medicaid rates and hospital referral flows. But as former giants such as Kindred Healthcare exited the industry […]

Warren Raises Alarm Over Restructuring at Nursing Home Giant Genesis, Plans to Launch Probe of For-Profit Facilities

Sen. Elizabeth Warren this week wrote another letter to executives at Genesis HealthCare (NYSE: GEN), raising concerns about the nursing home giant’s recent deal to significantly restructure its operations in part through a $50 million private equity investment. Warren, a Massachusetts Democrat, made headlines in late January when she publicly questioned the operator’s decision to […]

Ensign Sees Admission Volumes Closing in on Pre-Pandemic Levels, More M&A as Stimulus Runs Out

The Ensign Group (Nasdaq: ENSG) is seeing admission volumes start to recover in the wake of vaccination clinics at its long-term care facilities, but the time it will take for occupancy to return to pre-COVID-19 levels is still an open question, the operator’s executives indicated during a virtual presentation at the brokerage and investment bank […]