Genesis HealthCare (NYSE: GEN) on Wednesday announced the acquisition of an ownership stake in 18 skilled nursing facilities in conjunction with a private investment firm, while also shedding eight more properties in a separate deal worth a total of $89 million. The Kennett Square, Pa.-based post-acute giant has a 30% share of the new entity […]
Category: Finance
With changes in Medicare reimbursement rules and heightened pressure to cultivate stronger clinical outcomes, technology has increasingly emerged as a solution to help providers find and retain staff. connectRN, a mobile software platform that assists registered nurses (RNs), licensed practical nurses (LPNs), nursing assistants, and other staff in finding available employment slots at multiple facilities, […]
For one skilled nursing operator in the greater Chicago area, success in the world of accountable care organizations has meant education and proactive collaboration — as well as a willingness to drop out of a partnership with an ACO that didn’t fit into its overall philosophy. “We really look for a partnership in the ACO, […]
The pressure to shift more care from skilled nursing facilities to the home setting has led to rapid increases in the cost of home health services, according to the latest entry in a long-running measure of senior care costs. The median annual cost of a home health aide in 2019 rose 4.55% from the year […]
The long-running Skyline Healthcare saga came to a close in Kansas last week after Mission Health Communities formally took control of 15 properties that it had operated throughout a more than 18-month receivership process. The Tampa, Fla.-based Mission officially became the new operators last Friday, according to an announcement from the Kansas Department for Aging […]
The massive purchasing power of China’s population draws businesses from across the world, and one major post-acute player sees opportunity to thrive by introducing rehabilitation services to the country’s health care system. But to do that, Genesis HealthCare (NYSE: GEN) had to overcome the challenges of breaking into the notoriously challenging market, and learned some […]
As more and more capital enters the skilled nursing sector, buyers and sellers have plenty of options when it comes to financing — and the market only stands to heat up as the Patient-Driven Payment Model continues to play out in practice. That’s according to Ari Dobkin, co-head of the senior housing and healthcare team […]
The median operating margin at the nation’s skilled nursing facilities sank underwater for the first time in 34 years, according to one long-running analysis, with the lowest quartile of properties sitting at -6.5%. After hovering at about 0 in 2017, the median figure dipped to -0.1% in 2018, consulting firm CLA announced in its 34th […]
More than two years after announcing a plan to exit the skilled nursing space, former industry giant Kindred Healthcare has sold off the final remaining standalone SNF in its portfolio. The Louisville, Ky.-based operator sold Kindred Transitional Care and Rehabilitation — Spring Valley, a 160-bed property in Las Vegas, to Capital Senior Ventures on October […]
Predictions that the Patient-Driven Payment Model (PDPM) will trigger a wave of skilled nursing M&A action either have not yet taken hold or won’t come true until the new year, according to multiple players who spoke to SNN on Wednesday. The burden of extra work related to more stringent quality data requirements and reimbursement changes […]
A group of long-term care veterans led by former AVIV REIT chairman Craig Bernfield are launching a new private company to acquire, develop, and lease skilled nursing facilities and assisted living properties. Hana2.0 Property Group will initially focus on those two property types equally, co-president Jeff Marshall told Skilled Nursing News Tuesday. The company will […]
More than a year after Welltower’s (NYSE: WELL) mega-deal to snap up skilled nursing giant HCR ManorCare, the real estate investment trust’s CEO says the partnership is on the right financial footing. “They’re on track,” Tom DeRosa said of the early financial results in a recent interview with the National Investment Center for Seniors Housing […]
Senior Living Investment Brokerage (SLIB) facilitated the sale of three skilled nursing and assisted living communities in Huron and Sioux Falls, S.D. SunQuest Healthcare Center — licensed for 163 nursing beds — and SunQuest Village, offering 55 assisted living beds, are located on the same campus in the city of Huron. Southridge Healthcare Center is […]
BM Eagle Holdings has emerged as a major owner of skilled nursing assets in the United States, picking off a pair of sizable portfolio deals in the last two years — with a specific focus on finding the right operator in the right market. “In our business, what we’re looking for is investing in assets […]
Dialysis services have emerged as a potential growth area under multiple new Medicare payment models, and a skilled nursing provider in the Northeast has joined a growing list of companies partnering with vendors providing renal care. Marquis Health Services earlier this month teamed up with Compass Home Dialysis to provide staff-assisted bedside hemodialysis services at […]
Senior Living Investment Brokerage (SLIB) facilitated the sale of a 122-bed skilled nursing facility in Savannah, Ga., which was occupied by 88 residents at the time of sale. The 4.9-acre site may be expanded to use all of its licensed beds. “The seller ultimately selected the buyer whose future goals lined up well with the […]
Three more nursing homes with overlapping ownership have fallen into state receivership in Arkansas, bringing the total count to five. The state’s Department of Human Services (DHS) moved to appoint a third-party receiver to take over Lexington Place Healthcare and Rehabilitation in Jonesboro, Prescott Manor Nursing Center in Prescott, and Lincoln Heights Healthcare in Star […]
Seven of eight former Dycora Transitional Health and Living skilled nursing facilities in Wisconsin have emerged from receivership under the operation of Bedrock Healthcare LLC. The Beaver Dam Daily Citizen of Beaver Dam, Wisc. initially reported the news on Wednesday. The properties initially entered receivership back in April at the request of landlord Golden Living […]
The Ensign Group (Nasdaq: ENSG) on Tuesday announced the successful completion of a plan to spin off all of its non-skilled nursing business lines into a separate company, The Pennant Group (Nasdaq: PNTG). The San Juan Capistrano, Calif.-based post-acute company’s board approved the plan at the end of August, nearly four months after it was […]
White Oak Healthcare Finance on Tuesday announced its role in funding a $241 million senior credit facility for a group of 19 skilled nursing facilities. The portfolio consists of more than 2,000 beds across six states: Massachusetts, New Hampshire, Pennsylvania, Delaware, Maryland, and West Virginia. A spokesperson for White Oak, a San Francisco-based lender, confirmed […]
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