LTC Properties (NYSE: LTC) on Friday announced a $38 million pair of transactions that will see the real estate investment trust (REIT) strike up a new relationship with transitional-care operator Ignite Medical Resorts. The two separate agreements consist of a $19.5 million deal to purchase a recently constructed 90-bed skilled nursing facility in the Kansas […]
Category: Finance
Genesis HealthCare (NYSE: GEN) reported improvement in its 2019 second-quarter financial results, and CEO George Hager is optimistic about the second half of the year — in part because of the skilled nursing operator’s participation in the Medicare Shared Savings Program (MSSP) as an accountable care organization (ACO). The skilled nursing giant, which operates about […]
Sabra Health Care REIT (Nasdaq: SBRA) on Thursday announced its impending entrance into the growing addiction treatment and behavioral health marketplace, with a specific eye toward potentially repurposing skilled nursing facilities for the task. “There aren’t very many other uses for skilled nursing facilities,” Sabra CEO Rick Matros said on his company’s second-quarter 2019 earnings […]
When the Dallas-based skilled nursing operator Senior Care Centers filed for Chapter 11 bankruptcy protection last December, management placed the blame firmly on its leases with its real estate investment trust (REIT) and other landlords, specifically calling them “expensive.” But Wendy Simpson, president and CEO of SCC landlord LTC Properties, Inc. (NYSE: LTC), says the […]
CareTrust REIT (Nasdaq: CTRE) emphasized the importance of local knowledge for skilled nursing operators in its second-quarter earnings call held on Wednesday, both in the case of a planned operator switch in Ohio and in the skilled nursing market more broadly. Specifically, the San Clemente, Calif.-based real estate investment trust (REIT) is looking to sell […]
Omega Healthcare Investors (NYSE: OHI) made a major splash this week with the announcement of a planned $735 million skilled nursing acquisition, though executives also reported that a troubled tenant in Texas hasn’t generated any revenue for the real estate investment trust (REIT) yet this quarter. Daybreak Venture met its rent obligations under a deferral […]
CareTrust REIT (Nasdaq: CTRE) on Tuesday announced plans to terminate its existing master lease with skilled nursing operator Trillium Healthcare Group in a move that will see the real estate investment trust (REIT) reduce its exposure to the provider from 18 to 11 properties. The Bradenton, Fla.-based Trillium currently operates 10 CareTrust-owned buildings in Iowa, […]
Omega Healthcare Investors (NYSE: OHI) on Tuesday announced plans to pick up 58 skilled nursing facilities in a 60-building deal valued at $735 million. The Hunt Valley, Md.-based real estate investment trust (REIT) agreed to the deal on July 26, Omega reported this week, though it remains subject to approval by the Department of Housing […]
As more hospitals discharge patients directly to home and lengths of stay decline, some skilled nursing facilities are looking at home health and home care as a way to take more control of the patient experience. Starting a home health agency has some attractive perks for SNFs: The move allows them to get more insight […]
Diversicare Healthcare Services (Nasdaq: DVCR) on Monday announced that it has reached a tentative agreement to settle an investigation into its therapy practices and other issues that had long served as a drag on its operations. “For six years, we’ve had this open investigation, but we’re now closer to having certainty on the matter,” CEO […]
Regional Health Properties, Inc. (NYSE American: RHE) completed the sale of three SNFs in Oklahoma, Alabama, and Georgia to affiliates of MED Healthcare Partners LLC for $26.1 million in cash. The closing date on a fourth property involved in the deal, located in Oklahoma, was extended to August 28. Regional Health used the proceeds from […]
Commercial real estate finance firm Walker & Dunlop (NYSE: WD) has added five broker leaders from Marcus & Millichap in a move to bolster its senior housing and care presence in the Chicago area. Managing directors Mark Myers and Josh Jandris, along with senior vice president Jordyn Berger and VPs Alex Vice and Mike Surak, […]
The Ensign Group (Nasdaq: ENSG) announced the acquisition of the 200th skilled nursing facility in its rapidly expanding portfolio, while also reporting yet another round of sunny quarterly earnings results — which saw the operator boost overall skilled nursing income by 31.1% from this time last year. The San Juan Capistrano, Calif.-based operator picked up […]
Hackensack Meridian Health, a New Jersey-based hospital system, acquired a trio of nursing homes in a $60 million deal designed to bolster its post-acute footprint. The Bergen Record first reported the news Tuesday. The 17-hospital network will operate the properties — Prospect Heights Care Center and Regent Care Center in Hackensack, N.J., and the West […]
KeyBank Real Estate Capital secured $45 million in Federal Housing Authority (FHA) loans for the refinancing of three skilled nursing facilities in the state of Texas. The loans were $16 million for the 120-bed Regency-Windsor Calallen in Corpus Christi, $14.5 million for the 120-bed Regency-Bastrop Nursing & Rehabilitation Center in Bastrop and $14 million for […]
As skilled nursing facilities navigate thin margins, payer pressure on patient length of stay and reimbursement shortfalls, the resulting financial headaches can have ripple effects for their partners. Vendors such as food service or pharmacy companies can be particularly vulnerable to a SNF’s financial struggles. But for third-party rehab companies, a tumultuous SNF world – […]
Within each skilled nursing facility, leaders must balance the goal of providing excellent care with the financial constraints of the business, from low Medicaid rates to shifting discharge patterns. By hiring Mark Weiss as its new chief financial officer this month, The New Jewish Home in New York got an executive who can do both. […]
Two groups of buyers are involved in the transition of a skilled nursing facility located in Warsaw, N.Y., Buffalo Business First reported. Bartholomew Health Care Group of Rochester’s decision to sell the 80-bed East Side Nursing Home came after financial problems primarily stemming from Medicaid funding, owner A. John Bartholomew told the publication. The initial […]
With the Medicare Part A reimbursement overhaul taking effect in just a few months, skilled nursing providers across the country are in countdown mode. But the clock is moving at different paces for different providers, several experts said. Some SNFs began their analysis and preparations months ago; others are barely getting started. That’s led to […]
A new investigation has put Skyline Healthcare back in the national spotlight. An investigative report by NBC News published Friday examined the rise and fall of Skyline Healthcare, the skilled nursing company that collapsed in dramatic fashion over several months. The Wood Ridge, N.J.-based Skyline at its height owned or operated more than 100 skilled […]
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