For more than two months now, Gurwin Jewish Nursing & Rehabilitation CEO Stuart Almer has been on the front lines of the COVID-19 battle, running a 460-bed nursing home in the suburbs of New York City — a region that has borne the brunt of the coronavirus impact in the United States so far. That […]
Harborview Capital Partners this week announced a raft of skilled nursing deals with a total of more than $191 million in acquisition and refinance loans. First up, the New York City-based real estate finance and advisory firm teamed with Meridian Capital Group to provide $93.7 million for the acquisition of 19 facilities in the western […]
It’s certainly too early to determine what the senior housing and care landscape will look like post-pandemic, but the leader of a leading real estate investment trust (REIT) in the space thinks post-acute facilities will have an easier time returning to some kind of normalcy once the peak of the COVID-19 crisis passes. Unlike the […]
Real estate investment trusts (REITs) with a focus on health care are facing risks on all fronts related to the COVID-19 pandemic, but those with investments in senior housing could see the most significant challenges — and their skilled nursing tenants might actually be better poised to come back from the brink, according to an […]
Prior to the start of the COVID-19 pandemic, skilled nursing facilities that specialize in post-acute care were a rare target of true investor excitement in the greater institutional senior care continuum. With a shiny new Medicare payment model that gave providers more financial credit for the high-acuity services they’d increasingly added over the years, and […]
Genesis HealthCare (NYSE: GEN), the largest publicly traded post-acute and long-term care provider in the country, on Thursday announced that it has received a continued listing standard notice from the New York Stock Exchange after its shares dropped below $1 for more than 30 consecutive trading days. The Kennett Square, Pa.-based nursing home giant can […]
As skilled nursing operators battle to elevate their place on the priority list for personal protective equipment (PPE) and other resources to battle the COVID-19 pandemic, they have to combat the forces of supply and demand that have ravaged health care facilities across the world. This includes problems with prices skyrocketing and supplies plummeting, as […]
The Senate this week passed an updated stimulus bill that will load an additional $75 billion into a dedicated relief fund for health care providers, though nursing homes that rely on Medicaid for income are still waiting for the first distribution from the pot. The $2 trillion CARES Act set aside $100 billion for the […]
Newmark Knight Frank, a commercial real estate advisory firm, this week announced the sale of six skilled nursing facilities in the state of Arkansas. The portfolio had an average occupancy of 82%, with a total of 868 beds. The properties had an “average vintage” of 1985, according to the release announcing the deal, which was […]
A facility in New Jersey that made national headlines after the New York Times reported on a wave of COVID-19 deaths among its residents has a connection to the defunct Skyline Healthcare nursing home chain — a company whose spectacular collapse spurred calls for greater transparency around nursing home ownership across the country. Louis Schwartz, […]
Nursing homes will soon have to start reporting all positive COVID-19 cases to the Centers for Disease Control and Prevention (CDC) – and could face civil monetary penalties (CMPs) for not meeting the reporting requirements. Centers for Medicare & Medicaid Services (CMS) administrator Seema Verma said on a Monday morning call with reporters that skilled […]
Nursing homes that rely primarily on Medicaid funding were largely shut out of the first round of coronavirus stimulus money set aside for health care providers — and while the federal government has promised that help is on the way, a group of 27 U.S. senators wants faster action. Led by Sen. David Perdue of […]
The financial toll of the COVID-19 pandemic in skilled nursing facilities, though in no degree comparable to the toll in human life and health, is likely to be significant in the months to come, according to a new analysis from the professional services firm CliftonLarsonAllen (CLA). Specifically, the devastation caused by the coronavirus will lead […]
Chicago-based specialty investment bank Ziegler this week announced the successful sale of a three-building skilled nursing portfolio on behalf of former owner Emerald Shelter Group. The buyer, a joint venture between an owner-operator group and a private equity firm, paid $67 million for the three properties in Wilmington, Newark, and Lewes, Del. Based in Nashville, […]
Problems with securing sufficient quantities of personal protective equipment (PPE) span the health care continuum, but in the skilled nursing setting, many providers are grappling with severe shortages — even as they try to contain a contagious disease that presents unique dangers to their patient population. Widespread shortages of masks and gowns, coupled with a […]
If skilled nursing facilities want to follow federal guidelines on caring for their residents during the COVID-19 pandemic, they could find themselves paying staggering amounts for the required personal protective equipment — with prices rising more than 1,000% from before the pandemic to now. That’s according to an April 7 cost analysis from the Society […]
Private equity dollars have driven the conversation in skilled nursing over the last few years, as the publicly traded real estate investment trusts (REITs) looked to cut their dependence on government-reimbursed tenants. But the COVID-19 pandemic could shake that up, at least according to LTC Properties (NYSE: LTC) CEO Wendy Simpson. “We are thinking that […]
The federal government this week announced that hospitals and other Medicare-reimbursed health care providers will receive the first disbursements from a $100 billion emergency COVID-19 stimulus fund. For skilled nursing facilities that primarily derive their income from Medicare, the windfall could be significant. “We estimate an allocation of about $1.5 billion to skilled nursing based […]
Sabra Health Care REIT (Nasdaq: SBRA) late last week announced the sale of two facilities operated by publicly traded skilled nursing giant Genesis HealthCare (NYSE: GEN). The Irvine, Calif.-based real estate investment trust (REIT) sold the properties, both located in Montana, to an undisclosed buyer for a total price of $14.4 million — which included […]
Updated guidelines on the use of personal protective equipment (PPE) are causing major headaches for health care providers across the continuum, as both acute and post-acute care settings grapple with supply shortages and a surge in cases of COVID-19. Those headaches include grappling with significant shortages of equipment in the face of the highly contagious […]