Citadel Healthcare Acquires ManorCare Facility; Lancaster Pollard’s SNF Bridge Loans

Citadel Healthcare Acquires Illinois ManorCare SNF Citadel Healthcare acquired ManorCare of Northbrook in Northbrook, Ill., for an undisclosed amount, The Daily Herald reported. The facility, which has been renamed The Citadel of Northbrook, is the 10th location for Citadel, according to the publication. The company is based in Morton Grove, Ill., according to its LinkedIn […]

Welcov Healthcare Going Out of Business, Reports Say

Welcov Healthcare, a nursing home and senior living operator based in Edina, Minn., is in the process of “winding down operations,” according to local media reports. The company is going through a reorganization and is in the process of shutting down operations, though it remains committed to two facilities in Torrington, Wy., Welcov president Tom […]

Without Incentive to Share Savings, ACOs Add to SNFs’ Financial Headaches

It’s been a common refrain in the industry: To survive in a health care system increasingly moving to value-based payment models, skilled nursing facilities will have to form strong partnerships with hospitals, health systems, and accountable care organizations (ACOs). But doing that will be difficult if acute care facilities and ACOs aren’t interested in forging […]

Bain Bets on Skilled Nursing with Acquisition of Medical Provider HealthDrive

A subsidiary of Bain Capital made a major move into the skilled nursing world this week, acquiring a provider of specialty medical services to heavy hitters like Genesis Healthcare (NYSE: GEN) and HCR ManorCare. Bain Capital Double Impact on Thursday announced the acquisition of HealthDrive, a Wellesley, Mass.-based firm that offers dentistry, optometry, podiatry, and […]

Ensign Grows in Utah with 120-Bed Pickup; Greystone’s $14M Kansas Play

The Ensign Group (Nasdaq: ENSG) on Thursday announced the acquisition of Bella Terra Cedar City, a 120-bed skilled nursing facility in Cedar City, Utah. The transfer, which includes both the real estate and operations, became effective January 1, and the terms of the deal were not disclosed. Milestone Healthcare, Ensign’s Utah-based portfolio subsidiary, will operate […]

White Oak Provides $161M For SNF Transaction; $21M Refi in IL

White Oak Provides $161M For Allegiant Healthcare’s 17-SNF Acquisition White Oak Healthcare Finance made another major financing for a skilled nursing transaction to kick off 2019. The affiliate of White Oak Global Advisors, LLC acted as sole lender and administrative agent for the funding of a $161 million senior credit facility for Allegiant Healthcare and […]

Good Samaritan and Sanford Health Complete Merger

The Evangelical Lutheran Good Samaritan Society, one of the largest non-profit senior living and care providers in the U.S., on Wednesday officially completed its marriage to Sanford Health. As a result of the combination, Sanford Health now employs almost 50,000 people. As of June 2018, when the combination of Good Samaritan and Sanford was approved […]

Omega to Acquire MedEquities in $600M REIT Deal

Omega Healthcare Investors (NYSE: OHI) kicked off 2019 by announcing the $600 million acquisition of MedEquities Realty Trust (NYSE: MRT), marking the ownership shift of 34 skilled nursing and other health care properties. The boards of both real estate investment trusts (REITs) approved the deal unanimously, Omega announced early Wednesday morning, with a final transaction […]

Nasdaq Issues Delisting Warning for Skilled Nursing Operator Diversicare

The Nasdaq stock exchange in late December issued a delisting warning for Diversicare Healthcare Services, Inc. (Nasdaq: DVCR) after the skilled nursing provider’s total market cap fell below the required threshold. For 30 consecutive trading days ending December 19, Diversicare’s market value of listed securities (MVLS) was lower than Nasdaq’s mandatory $35 million total, the […]