What Hospitals Want: How SNFs Can Break into New Payment Partnerships

Skilled nursing facility operators frequently hear about how forging hospital partnerships is essential to their success under new payment models, but the intricacies of those interactions can often be difficult to navigate. Speaking at the National Investment Center for Seniors Housing & Care (NIC) spring conference in San Diego last week, the leader of one […]

Sabra, Senior Care Centers Reach Settlement Deal Amid Provider’s Bankruptcy

Sabra Health Care REIT (Nasdaq: SBRA) agreed to drop its claims against skilled nursing tenant Senior Care Centers amid the provider’s ongoing bankruptcy process, the REIT announced Sunday. Under the terms of the deal, Sabra will cease its actions against the Dallas-based Senior Care Centers in exchange for “certain settlement payments,” a portion of which […]

Pennsylvania SNF Sells for $20.9M; Strawberry Fields’ $21M Kentucky Play

The property associated with the Sanatoga Center skilled nursing and rehabilitation facility in Sanatoga, Penn., sold for more than $20.9 million, The Santoga Post reported Wednesday. The deal closed on Jan. 28. The property was previously owned by DELM Nursing Inc. of Kennett Square, Pa.; it was sold to a company called Santoga RE, according […]

Ensign Group Leadership Shuffle to Bring New CEO

Skilled nursing provider The Ensign Group (Nasdaq: ENSG) on Thursday announced a series of leadership changes that will bring a new CEO to the company by spring. Barry Port, currently chief operating officer of the company’s Ensign Services arm, will take the reins from Christopher Christensen effective May 30, while Christensen transitions to executive chairman […]

NIC Chief: Skilled Nursing Opportunity Lies in Senior Housing Partnerships

As value-based care models place greater emphasis on individual resident outcomes — and less importance on the particular care setting — partnerships with senior housing providers could represent a major opportunity for the beleaguered skilled nursing industry. That was the main message from National Investment Center for Seniors Housing & Care (NIC) president and CEO […]

Skilled Nursing Pressures Force CVS to Take $2.2B Hit in Fourth Quarter

Shares of pharmacy and insurance giant CVS Health (NYSE: CVS) slid on Wednesday after executives reported a $2.2 billion impairment charge related to its long-term health care business. The Woonsocket, R.I.-based CVS took the hit in the fourth quarter of 2018 due to troubles at its Omnicare arm, which provides pharmacy services to long-term health […]

NHI ‘Excited’ for Skilled Nursing Amid Senior Housing Hiccups

In an interesting role reversal, executives at National Health Investors (NYSE: NHI) expressed optimism about skilled nursing investments while handling pointed questions about some distress on the senior housing side of its business. CEO Eric Mendelsohn trumpeted his real estate investment trust’s (REIT) new partnerships with skilled nursing operators Ignite Medical Resorts and Wingate on […]

Leaders Least Optimistic About Standalone Skilled Nursing Assets in 2019

A survey of industry leaders from around the country revealed the least optimism for standalone skilled nursing assets in 2019. When asked about the perceived economic viability of solo SNF properties over the coming year, a plurality of respondents to Lancaster Pollard’s 2019 Seniors Housing & Care Survey — or 36% — said the outlook […]

Why Short-Term Rehab Alone Might Not Sustain Skilled Nursing

A consulting firm that offers services across the health care spectrum sees opportunity for growth in skilled nursing, though the leader of its SNF practice believes that the industry must expand beyond short-term rehab to survive. The Wayne, Penn.-based McBee plans to look at both hires and potential acquisitions as it tries to bolster its […]

$37.8M Financing for Two SNFs in New Jersey; Lancaster Pollard Lands Multiple Loans

Lancaster Pollard Mortgage Company helped provide financings for skilled nursing facilities in Michigan and South Carolina, while also landing a $42 million Fannie Mae refinance for a continuing care retirement community (CCRC). In Michigan, Lancaster Pollard assisted Riverview Health with the refinance of two of its communities in Detroit. Lancaster Pollard obtained two loans through […]

CareTrust Touts $300M Skilled Nursing Pipeline for 2019

CareTrust REIT (Nasdaq: CTRE) turned in solid earnings results for the fourth quarter of 2018, with a sizable pipeline of skilled nursing assets coming in 2019. The real estate investment trust’s quarterly revenue of $40.4 million beat analyst estimates by about $270,000, and represented an increase of around 10% from the previous year. Still, chief […]

Former Mainstreet Executive Takes Over Four Rapid Recovery Centers in Texas

The operations of four rehab-focused skilled nursing facilities developed by Mainstreet have been sold to a former company executive and his newly formed operating firm, Skilled Nursing News has learned. Led by Mark Fritz, who helped create the “Rapid Recovery Center” model for the Carmel, Ind.-based senior care developer, Bridgemoor now operates the quartet of […]

Bain-Backed HealthDrive to Buy New England Geriatrics in SNF Mental Health Push

Fresh off its acquisition by an offshoot of Bain Capital, skilled nursing medical services provider HealthDrive made a move of its own on Wednesday by entering the senior mental health space. The Wellesley, Mass.-based HealthDrive, which provides a variety of specialty medical offerings to skilled nursing operators, announced an agreement to purchase New England Geriatrics […]

CareTrust’s $43.9M Deal in California; Invesque’s $70M Portfolio Sale in Georgia

CareTrust REIT (Nasdaq: CTRE) this week announced the $49.3 million acquisition of four skilled nursing facilities in California operated by Covenant Care, Inc. The 503-bed portfolio comes to the San Clemente, Calif.-based real estate investment trust (REIT) through a sale-leaseback arrangement, with initial annual cash lease payments of $4 million and a 15-year term. The […]

Welltower Gains Confidence in Post-Acute as Industry Fundamentals Improve

Executives at Welltower Inc. (NYSE: WELL) are becoming more confident in the post-acute business, noting that skilled nursing acquisition prices have increased. In fact, in the past 12 months, the company has gone from being “an opportunistic buyer to opportunistic seller,” at least when it comes to skilled nursing, Welltower chief investment officer Shankh Mitra […]

HUD Lending Backlog in Skilled Nursing Could Last Four Months

Even though the federal government shutdown lasted 35 days, the effect on the skilled nursing financing landscape could last well into the spring and summer as officials work through the sizable backlog. The Department of Housing and Urban Development was unable to endorse loans during the partial government work stoppage that lasted from December into […]

Daybreak Rent Deferrals Hit Omega’s Bottom Line in Fourth Quarter

Omega Healthcare Investors, Inc. (NYSE:OHI) once again ran into problems with skilled nursing tenant Daybreak Venture in the fourth quarter of 2018, with the Denton, Texas-based operator underpaying about $4 million in rent. The Hunt Valley, Md.-based real estate investment trust (REIT) reported fourth-quarter net income of $64.9 million, or $0.31 per common share, compared […]

Questions Remain About Pennsylvania’s Vetting of Skyline Healthcare

Questions are swirling about Pennsylvania’s approval process for nursing home owners after Wood Ridge, N.J.-based Skyline Healthcare collapsed less than a year after the state Department of Health signed off on the company. That’s according to a deep dive from The Reading Eagle, published on Sunday. Four years before Joseph Schwartz, the owner of the […]

Genesis’s Hager: Traditional Skilled Nursing-REIT Structure a ‘Failure’

The traditional relationships between skilled nursing facilities and their real estate investment trust (REIT) partners have come under increasing scrutiny amid high-profile restructuring efforts and bankruptcies — and the leader of one of the nation’s largest care providers said Monday that the existing models just don’t work. “I would argue that the traditional REIT structure […]