Sabra Health Care REIT, Inc. (Nasdaq: SBRA) kicked off the new year by announcing the sale of 20 skilled nursing facilities operated by Genesis Healthcare, Inc. (NYSE: GEN). The deal, which netted Sabra $103.3 million, covers facilities across Kentucky, Ohio, and Indiana, the Irvine, Calif.-based real estate investment trust (REIT) announced. The buyers were not […]
Construction: Complete Pi Architects, McDonnell Construction and Senior Care Excellence have put the finishing touches on Medical Resort at Willowbrook, a skilled nursing and rehab facility in Houston. The SNF has 104 units, spans 59,000 square feet and provides post-acute nursing and rehab care, according to a press release. The facility is comprised of four small “houses,” each of […]
Blueprint Announces Sale of Nashville SNF Blueprint Healthcare Real Estate Advisors, a Chicago-based advisory firm focused on health care real estate and senior housing, announced the sale of a 119-bed skilled nursing facility in Nashville, Tenn., for a purchase price of $16 million, or $134,454 per licensed bed. The deal was conducted for a public real estate […]
Construction: Announced Trilogy Plotting New Ohio SNF * Trilogy Health Services is mulling opening an $18 million, 115-unit skilled nursing, assisted living and independent living community in Gahanna, Ohio. The community, tentatively called Trilogy Village Center, would span up to 79,000 square feet and replace single-family homes, reported Columbus Business First. New York City Residents Vow […]
Near the end of a year that has already seen Kindred Healthcare, Inc. (NYSE: KND) exit the skilled nursing industry, the health care giant is still making headlines. Insurance provider Humana, Inc. (NYSE: HUM) is reportedly closing in on a deal to buy Kindred in conjunction with a pair of private equity firms, according to […]
If a rumored merger actually takes place, the nation’s largest hospital operator and the nation’s third-largest nonprofit senior care organization may become one in the same. St. Louis-based Ascension Health and Renton, Washington-based nonprofit health system Providence St. Joseph Health have been discussing the possibility of merging for months, The Wall Street Journal reported on Sunday, citing […]
Four more facilities owned by Senior Care Group filed for Chapter 11 bankruptcy protection last week, bringing the total up to 10. The Tampa, Fla.-based non-profit — which owns 13 skilled nursing, home health care, and rehab providers across the Southeast — initially entered Chapter 11 back in July, along with six of its facilities […]
Construction: Planned St. Louis Senior Housing Expansions to Include More Skilled Nursing Friendship Village’s plans to spend $201 million on expansions at two St. Louis senior living communities could bring more skilled nursing care to the area. As outlined, the expansion would include a 90-bed skilled nursing facility (SNF) with a rehab clinic and gym in […]
Post-acute concerns could be a thorn in the side of non-profit continuing care retirement community (CCRC) operators next year. Citing industry-wide declines in census, admissions, and revenues amid changing payment models, Fitch Ratings, Inc. identified skilled rehabilitation care as a main concern for non-profit CCRCs in an otherwise sunny report about the state of the industry issued […]
Industry groups and senior housing financing players are hoping a last-minute advocacy push can convince Congress to save a key funding mechanism for non-profit operators — but there are few guarantees as the Republican-backed tax bill goes to reconciliation. The House version of the GOP’s sweeping rewrite of the U.S. tax code includes the elimination […]
Kindred Provides Update on Closings for Its Skilled Nursing Facility Louisville, Kentucky-based Kindred Healthcare said it completed additional closings connected with its agreement to sell off its skilled nursing assets to BM Eagle Holdings, LLC. The most recent closings include 12 skilled nursing facilities and one assisted living facility sold since Oct. 1, with proceeds […]
Construction: Planned Wyoming Lawmakers Mull Veteran Retirement Home A new nursing home for veterans could open in Sheridan, Wyo. The Wyoming Veterans Commission and the Legislature’s Joint Transportation, Highways and Military Affairs Committee are discussing whether to build a 24-unit nursing home that would cost $5.78 million and open within five years, the Casper Star Tribune reported. […]
Welcome to Skilled Nursing News’s regular look at the biggest headlines from the week that was, your all-in-one place for the top stories you need to jumpstart your day and discover the things you may have missed. SNN brought you a peek into PointClickCare’s annual customer summit in Orlando, where executives declared that skilled nursing […]
Mainstreet Health Investments (TSX: HLP.U) on Friday announced a $425 million acquisition of Care Investment Trust, LLC, giving the Toronto-based real estate investment firm 42 new senior housing and skilled nursing properties. Care Investment Trust had previously been a subsidiary of Tiptree, Inc. (Nasdaq: TIPT), which will become Mainstreet’s largest shareholder upon completion of the […]
A little further down the care continuum, two of the largest home health care companies in the nation on Thursday announced a $2.4 billion merger. Louisville, Kentucky-based Almost Family, Inc. (Nasdaq: AFAM) and Lafayette, Louisiana-based LHC Group, Inc. (Nasdaq: LHCG) on revealed that they have agreed to combine in an all-stock merger of equals transaction. […]
Skilled nursing mergers and acquisitions (M&A) activity contributed to an overall strong third quarter, as as nursing care accounted for $3.5 billion of the total $5.0 billion in transactions volume for the quarter, according to a report by the National Investment Center for Seniors Housing and Care (NIC). Seniors housing accounted for the remainder ($1.5 […]
Cascadia Healthcare Becomes Largest Post-Acute Operator in Idaho Cascadia Healthcare announced several transactions that made the Eagle, Idaho-based post-acute health care company the largest such operator in the state. Cascadia of Nampa, a 99-bed transitional care facility in Nampa, Idaho, opened most recently. In addition, Cascadia expects to open a similar construction facility in Boise, Idaho, early next […]
Sabra Health Care REIT (Nasdaq: SBRA) has released details of a previously announced restructuring of its Genesis HealthCare (NYSE: GEN) portfolio, with the goal of making the skilled nursing and post-acute properties more marketable to potential buyers. Kennett Square, Pennsylvania-based Genesis, the largest skilled nursing provider in the nation, has been beset by problems during […]
Construction: Announced Marquis Health Services Plans $5 Million Renovation at Boston SNF Marquis Health Services, the healthcare affiliate of Tryko Partners, is now operating North End Rehabilitation and Healthcare Center in Boston, according to a press release. The first order of business at the newly acquired skilled nursing facility (SNF) is a $5 million renovation […]
A new skilled nursing facility in Jacksonville, Florida seeks to expose students to the world of elder care — by bringing the residents right to their campus. Dolphin Pointe Landing, a skilled nursing facility that will be operated by Clear Choice Health Care, is under construction beside Jacksonville University (JU), with the goal of introducing students of […]
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