Citing ‘Crushing Rent Burden,’ Skilled Nursing Operator Absolut Care Files for Bankruptcy

Skilled nursing provider Absolut Care — and some of its subsidiaries — filed for Chapter 11 bankruptcy on September 10 in the U.S. Bankruptcy Court for the Eastern District of New York. The East Aurora, N.Y.-based company operates six SNFs and one assisted living facility in the Empire State, with approximately 975 employees, according to […]

Why Skilled Nursing Operators Can’t Bank on ‘Silver Tsunami’ — or One Good Month Under PDPM — for Relief

As the post-acute and long-term health care industry struggles through shortened lengths of stay and compressed reimbursements, an oasis has lingered just beyond the horizon: the so-called silver tsunami. If operators can wait out the current downturn, the thinking goes, the glut of baby boomers turning 80 and older over the coming years will be […]

Symphony Post Acute Expands into Michigan with Caretel Acquisitions; County SNF Hits Market for $19M

Symphony Post Acute Network expanded its footprint into the Michigan market this week with the acquisition of Caretel Inns of Brighton and Caretel Inns of Lakeland, a pair of skilled nursing and assisted living facilities. Located in Brighton and St. Joseph, Mich., respectively, the facilities blend high-end post-acute care with assisted living units, according to […]

Inside One Hospital System’s Decision to Partner with Skilled Nursing Instead of Going It Alone

Officials at the University of Kansas Health System recently found themselves facing a familiar issue for hospital groups: To bolster their post-acute presence, and reduce costly readmissions, should they partner with an external operator or do it themselves? Each option comes with its own pros and cons. Some major health systems have gone all in […]

$169M Skilled Nursing Portfolio Deal in N.J.; Legacy Grows with a Pair of SNFs in Chicagoland

Peace Capital and its affiliated operator Complete Care Management acquired a 930-bed senior living and skilled nursing portfolio in the Ocean County, N.J. area in a $169 million deal. The transaction was financed by a $26 million mezzanine loan from the New York City-based private equity firm Northwind Group, and a $131 million senior financing […]

Diversicare Completes Kentucky Exit with 10-Building Transfer

Diversicare Healthcare Services (OTCQX: DVCR) this week announced the successful completion of a 10-building transfer that saw the skilled nursing operator exit the Kentucky market entirely. The handoff was completed on August 30, according to a release from the Brentwood, Tenn.-based provider. Diversicare had previously announced its intention to leave the Bluegrass State back in […]

Capital Funding Backs Portopiccolo’s $36.9M Pickup; $2.5M Nursing Home Property Sells for $250K

Capital Funding, LLC last week announced its involvement in a $36.9 million deal that saw The Portopiccolo Group pick up a pair of skilled nursing facilities in Virginia and Maryland. The transaction covered the Iliff Nursing and Rehabilitation Center, a 130-bed facility serving both pediatric and geriatric residents in Dunn Loring, Va., and the Fox […]

Ignite Medical Resorts Teams with University of Kansas Health in Latest Skilled Nursing Expansion

Ignite Medical Resorts continued its expansion this week with the acquisition of a 96-bed skilled nursing facility in partnership with the University of Kansas Health System. Formerly known as the Kansas City Transitional Care Center, the facility will be renamed Ignite Medical Resort, in Partnership with the University of Kansas Health System when the transfer […]

Diversicare Removed from Nasdaq Exchange, Moving Over the Counter

Diversicare Healthcare Services this week announced that its common stock has been removed from the Nasdaq exchange after officials denied an appeal of its delisting notice. The Brentwood, Tenn.-based skilled nursing operator had received an initial warning from the exchange in late December, after its market value of listed securities (MVLS) dropped below the mandatory […]

Ensign Group Board Approves Home Health, Hospice Spinoff

The board of directors for The Ensign Group (Nasdaq: ENSG) this week approved a plan to separate its skilled nursing operations from the remainder of its senior housing and care business lines. The San Juan Capistrano, Calif.-based nursing home giant will see its home health, hospice, and senior living business lines move into a new […]

$47M SNF Breaks Ground in Tennessee; $5.8M Bridge-to-HUD Loan in Ohio

Officials in Tennessee broke ground on a $47 million state veterans nursing home in a ceremony in Cleveland, Tenn., the Associated Press reported Aug. 22. The 108-bed skilled nursing facility will include six 18-bedroom residential houses linked by interior shared support spaces. The U.S. Department of Veterans Affairs is contributing a $30.5 million grant, while […]

Lorien, the ‘Nursing Home Company That Doesn’t Like Nursing Homes,’ Sees Home Services as Vital to Success

As the population of the United States ages, it’s becoming imperative for long-term care operators to come up with solutions to deal with the coming demographic wave — across a variety of settings. For Lorien Health Services — which offers a range of services from skilled nursing to assisted living to dialysis across nine facilities […]

Investing in Skilled Nursing Tech Isn’t Worth Much Without Employee, Leadership Acceptance

Data continues to be the watchword in a skilled nursing marketplace where hospitals and other referral partners demand increasingly concrete information about post-acute outcomes. In response, numerous tech companies have stepped into the fray to provide potential solutions — from data analytics tools that can identify serious health issues before they escalate to a hospitalization, […]

Colliers: Fast-Growing IRF Sector Represents ‘Attractive Investment Option’ in Post-Acute

The inpatient rehabilitation facility (IRF) represents the fastest-growing asset class within the post-acute care spectrum, according to a new report from real estate services firm Colliers International — thus making it a prime target for investors in the overall real estate space. “Freestanding IRFs tend to have a healthy operating margin, and help expedite the […]