Portopiccolo’s $64.6M, Three-SNF Pickup; Cascadia Expands in Idaho

Oxford Finance LLC closed a term loan and revolving line of credit totaling $64.6M to fund the Portopiccolo Group’s purchase of three nursing homes. The N.J.-based Portopiccolo, a family-owned private equity firm focused on skilled nursing assets, acquired one facility in Maryland and two in North Carolina, totaling 450 skilled beds and 50 assisted living […]

Omega to Divest Struggling Daybreak Skilled Nursing Portfolio, Cautiously Upbeat on Medicaid Crackdown

After multiple quarters of struggles with operator Daybreak Venture, Omega Healthcare Investors (NYSE: OHI) on Thursday announced a plan to largely purge the provider’s buildings from its portfolio. “During the course of the next several quarters, Omega anticipates transitioning, either through re-leases or sales, the vast majority of Daybreak’s existing Omega facilities,” chief operating officer […]

Ensign Rides High-Acuity Skilled Nursing Model to 6% Rate Gains Under PDPM

The Ensign Group (Nasdaq: ENSG) on Thursday announced that its skilled nursing facilities have seen rate increases of up to 6% under the new Medicare payment model, in part helping to drive the post-acute leader to another set of record earnings. The company’s established same-store facilities achieved those 6% gains, while Ensign’s transitioning facilities — […]

New Eventus CEO: Though ‘Neglected’ in Alternate Payment Models, Nursing Homes Can Outperform Hospitals

Once wary of accountable care organizations (ACOs) and other new payment models, nursing home owners and operators are beginning to turn in favor of these value-based care structures — in the hopes of gaining leverage in a complex skilled nursing market burdened by high costs of care and staffing pressures. And although the push to […]

Genesis Inks $79M Deal to Cede Control of 19 Facilities — While Still Providing Back-End Support, Therapy

Genesis HealthCare (NYSE: GEN) on Tuesday announced a set of deals that will see the skilled nursing giant transfer control of 19 facilities in the West to a regional operator — while also still serving as a provider of back-office support and ancillary services. Under the terms of the $79 million transaction, the Los Angeles-based […]

Despite ‘Disappointing’ Performance of Top Player Omnicare, LTC Pharmacies See Success Ahead

While some long-term care pharmacies are struggling to stay afloat, others are thriving despite headwinds such as reduced reimbursements and coding challenges in the skilled nursing sector. For many long-term care pharmacy players, the way forward rests on new information systems and collaboration with nursing homes — which, if pulled off successfully, could lead to […]

Greystone Confirms Takeover of 13-Property Rosewood Skilled Nursing Portfolio from HUD

Greystone on Monday formally announced its takeover of 13 properties from the federal government, marking a new chapter for the much-publicized Rosewood Care Centers portfolio. The New York City-based investment firm installed an operational affiliate, Greystone Healthcare Management-Midwest, as the operator of the former Rosewood buildings in Illinois and Missouri, which include 12 skilled nursing […]

SNF Providers Could Find Managed Care Relief By Banding Together in IPAs

Creating or joining an independent practice association (IPA) empowers providers to negotiate managed care plan services and rates, a potential game-changer for nursing home owners amidst Medicare Advantage headaches — pains that include shorter lengths of stay, or the elimination of skilled nursing stays altogether in favor of home care.  Providers might opt into an […]

Blueprint’s $8.5M Ohio Sale; JLL Closes on Chicago Nursing Home & Shelter

Blueprint Healthcare Real Estate Advisors announced the $8.5 million sale of a 152-unit skilled nursing and assisted living facility in Northeast Ohio. The Chicago-based brokerage didn’t name the buyer or seller, though Blueprint indicated that the seller was a local 30-year owner-operator exiting the industry. The facility had experienced operational challenges, which Blueprint helped correct […]

Winners Still Outnumber Losers in Latest PDPM Analysis, But Length of Stay Trends Could Erase Rate Gains

The latest analysis of the new Medicare payment model for nursing homes again shows more operators scoring gains than suffering losses, but the change from the previous system may not be quite as straightforward — particularly as fee-for-service Medicare continues to lose ground to other payment sources. A little more than 67% of skilled nursing […]

Behavioral Health Providers Plot Conversions of Former Nursing Homes Across the Country

As 2020 begins, several mental health providers have pounced on former skilled nursing facilities, providing some concrete evidence of a trend toward repurposing post-acute real estate into behavioral health facilities. In recent years, a variety of industry-watchers have floated the idea of converting unused skilled nursing assets into behavioral health sites, including treatment centers for […]

Skilled Nursing Finance Vet: If CMS Isn’t ‘Measured’ on Medicaid Crackdown, Operators Face ‘Quite a Blow’

When it comes to the buying, selling, and financial backing of skilled nursing facilities, the new chief development officer of Senior Living Investment Brokerage has seen all angles. Steve Gilleland, who joined the Glen Ellyn, Ill.-based SLIB at the beginning of the month, worked on the lending side of skilled nursing and senior housing in […]

After Long-Term Care Drove Health M&A Growth in 2019, Investors See Deals as Key 2020 Survival Strategy

Despite the seemingly constant headwinds swirling around the post-acute and long-term care space, the sector again helped to drive overall health care deal volume in 2019 — and with more uncertainty ahead for the year, investors could turn to even more acquisitions as a way to weather the storm. Long-term care transactions came in third […]

Blueprint Pulls Off Seven-SNF Sale in Alabama; Tryko Grows Portfolio in Philadelphia

Blueprint Healthcare Real Estate Advisors late last week announced the successful sale of a seven-building skilled nursing portfolio across Alabama. The Chicago-based brokerage didn’t name the buyer or seller, though Blueprint did indicate that the portfolio went to a long-term care provider with an existing footprint in the state. The new operators plan to capitalize […]

Payment Outlook: 60% of MA Plans Cover Telehealth, 95% of Post-Acute Providers Subject to Alternate Models

The new fee-for-service Medicare model absorbed much of the oxygen around nursing home payment reform in 2019, but 2020 — as well as the years beyond — will bring a slew of alternate payment pressure to the post-acute sector. Over the next two years alone, 95% of post-acute operators will find themselves in new payment […]