Optum, the health services arm of UnitedHealth Group (NYSE: UNH), has agreed to buy home health giant LHC Group (Nasdaq: LHCG) for a reported $5.4 billion. The blockbuster deal is the latest indication that the nation’s largest health care payers are driving a shift toward value-based care models that prioritize more services delivered in people’s […]
Category: Finance
Tying Staff Wages to Medicaid Rates May Help SNFs on the Brink, But CMS Blueprint Should be Flexible
While nursing home operators and industry trade groups appreciate the Biden administration’s proposal to use Medicaid as a tool to boost staff wages in the industry, some wonder if the federal government’s approach is too broad for an increasingly diverse industry. Facilities vary widely based on region and community demographics, company culture and size. Still, […]
Strawberry Fields REIT – with an existing portfolio of 74 standalone skilled nursing facilities – is planning to go public. The company filed documents with the U.S. Securities and Exchange Commission on Monday, detailing its intention to grow in its health care markets. Strawberry Fields REIT is a self-administered real estate investment trust with a […]
The nursing home industry has long been governed under a carrot and stick system, but some worry the Biden administration may be too focused on the latter in its recently unveiled reform proposals. While the reform’s staffing standards have been called “out of touch” and its emphasis on policing private equity is seen by some […]
Nursing homes and continuing care retirement communities (CCRCs) will ultimately experience an increase in expenditures from $174.2 billion in 2019 to $273 billion in 2030 – a fluctuation along that timeline reflects a drop in federal financial support and eventual moderation compared to what the industry received during the height of the pandemic in 2020. […]
With contributions from Alex Zorn and Jordyn Reiland Despite the challenges of the past two years, Blueprint Healthcare Real Estate Advisors managed to expand and diversify. Now the firm has reorganized its leadership ranks, admitted new partners and is eager to grow the practice as the senior housing and care industries move forward. That growth […]
Almost one year ago exactly, Brian Beckwith ended his tenure as CEO of Formation Capital and began to consider his next moves. Sheryl Marcet was also considering her future. At the time, Marcet was a managing director at Formation, and she had first worked with Beckwith when they were both at GE Capital. Beckwith and […]
Even skilled nursing industry insiders may not know a whole lot about the investor who recently bought Diversicare Healthcare Services properties – Ephram “Mordy” Lahasky. The private investor doesn’t maintain a corporate website and has “largely avoided reporters for years,” according to a MarketWatch article published Wednesday. MarketWatch spoke with Lahasky for its story; Skilled […]
Long-term care operator QHC Facilities is selling its portfolio, which includes eight SNFs and two assisted living facilities, to Cedar Health Group – just a few months after the company filed for bankruptcy due to “crippling” staffing and retention issues. QHC Management, the company that managed the Iowa facilities, filed for Chapter 11 bankruptcy before […]
While industry leaders have bashed many of the proposals laid out in the Biden administration’s nursing home reform package, improving public transparency of SNF ownership may be the White House’s best plan to curb who they see as “bad actors.” However, the details will be important to get right, with concerns about the impact that […]
New Jersey-based hospital system Hackensack Meridian Health has agreed to sell off a majority of its long-term care facilities to Complete Care Management, a family-owned and operated New Jersey-based provider. The facilities being acquired include Hackensack Meridian Health nursing and subacute facilities located in Brick, Hackensack, Holmdel, North Bergen, Ocean Grove, Plainfield, Shrewsbury and Wall, […]
CareTrust REIT (NASDAQ: CTRE) is growing in Illinois after acquiring the Imboden Creek Living Center, Gardens and Villas campus in Decatur, Ill. this month. CareTrust’s initial investment in the facility, inclusive of capital expenditure commitments and transaction costs, was roughly $13.1 million. The campus includes 95 licensed skilled nursing beds, 46 assisted living units and […]
With record-setting pricing seen across the nursing home sector in 2021, one of the leading health care advisory firms is making some changes at the top to better capitalize on an ever-changing market. Blueprint Healthcare Real Estate Advisors – which recently facilitated the sale of a 167-bed independent living, assisted living and skilled nursing facility […]
While the Biden administration is seemingly trying to push private equity out of the skilled nursing sector, there seems to be growing confusion and frustration on how blaming such a small fraction of the overall sector is going to solve some of the challenges the industry currently faces. The skilled nursing market has been one […]
Bank and finance company executives have found skilled nursing facilities (SNFs) to not only be increasingly changing hands in the last year, but are also changing from a tax-exempt, not-for-profit status to a for-profit facility. That’s according to commentary collected during an executive survey published by speciality investment bank Ziegler and the National Investment Center […]
Genesis HealthCare obtained a $395 million senior credit facility from White Oak Healthcare Finance this week, marking “an important step” in the operator’s restructuring. White Oak acted as the sole lender and administrative agent in the deal. “This loan is an important step in the restructuring of Genesis as a leader in high-quality health care […]
The value-based purchasing program (VBP) available to skilled nursing facilities, while garnering the attention of the Biden administration in its sweeping reform initiatives, was already under the microscope with federal agencies. The Centers for Medicare & Medicaid Services (CMS) already has been authorized to apply nine measures to the program in adherence with the Consolidated […]
A Republican senator is calling on the Justice Department to open an investigation into the “egregious and flagrant conditions” at the Woodland Behavioral and Nursing Center, a nursing home that has made national headlines amid the COVID-19 pandemic. U.S. Sen. Chuck Grassley of Iowa penned a letter to Attorney General Merrick Garland on Wednesday, urging […]
The Medicare Payment Advisory Commission (MedPAC)’s value incentive program (VIP) seeks to standardize the many value-based purchasing programs that are available to different care settings, including skilled nursing. In its most recent report on Medicare payment policy, MedPAC devoted a chapter to the design of a VIP for post-acute care (PAC) in order to highlight […]
CareTrust REIT (Nasdaq: CTRE) has a new CEO and is embarking on what leadership is calling a pivotal year as the company takes steps to mitigate the risk in its portfolio and pursue new avenues, while remaining active in its core business markets. It’s been a busy few months for new CEO David Sedgwick. The […]
Subscribe
Receive industry updates and breaking news from SNN.