Medicare Payment Boost a ‘Positive Surprise’ for Invesque, But Portfolio Restructuring Continues

The skilled nursing bump in Medicare rates was a “positive surprise” for leadership at Invesque (TSE: IVQ.U), as most in the industry expected payment rates to decrease heading into next year. Bryan Hickman, senior vice president of investments at Invesque, said the change – in the form of a 2.7% increase to Medicare payment rates, […]

Ignite Enters Texas as Operator of 4 SNFs Acquired by LTC Properties for $52M

Park Ridge, Ill.-based Ignite Medical Resorts is entering Texas for the first time as the operator of four skilled nursing facilities acquired by LTC Properties (NYSE: LTC) in a $52 million deal.  “We’re looking for strategic growth that fits our vision. For this project, it was for facilities in four major metro areas, all close […]

Priorities, Plans and Perspectives: Mark Fritz, President, Bridgemoor Transitional Care

In this Priorities, Plans & Perspectives interview, Skilled Nursing News sits down with Mark Fritz, President at Bridgemoor Transitional Care, to learn how he navigates uncertainty and change, both inside and outside of his organization. Read on to discover how Fritz has had success with a hands off approach to the execution of strategic plans, […]

Short-Term Rehab Facilities Continue to Face Vaccine Struggles

Short-term nursing facilities across the country continue to wrestle with vaccine-hesitant staff even as residents line up for the vaccination. Thanks to new federal guidance, visitors and residents in some states can now socialize without masks if both can produce vaccine cards. But even as facility managers celebrate this, they are still working to convince […]

Invesque: Symphony Reduction Talks Continue, No Revenue from Bridgemoor in Q4

Invesque Inc. (TSE: IVQ.U) on Thursday indicated that talks to finalize the details of a transaction to cut its exposure to Symphony Care Network, its largest skilled nursing operator tenant, continue — while recognizing no revenue from Bridgemoor Transitional Care. In the third quarter of 2020, Invesque reported that it was taking steps to reduce […]

Invesque to Cut Symphony Exposure in Half, Reports No Bridgemoor Revenue as Post-Acute COVID Strains Mount

Invesque Inc. (TSE: IVQ.U) this week reported significant COVID-19 strains on a pair of its post-acute care tenants, with the skilled nursing landlord taking steps to reduce its exposure to Symphony Care Network and reporting no revenue from Bridgemoor Transitional Care. The real estate investment firm will either sell or transition operations at half of […]

Post-Acute Facilities Feel Short-Term COVID Pain, But May Have the Easiest Path Back

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 […]

Post-Acute Bed Capacity Concerns Loom as COVID-19 Cases Grow

As the number of confirmed COVID-19 cases in the U.S. mounts, concerns about hospital bed capacity are rising in proportion — and skilled nursing facilities need to be ready to help ease the stress on the acute care system, according to multiple providers. The Centers for Medicare & Medicaid Services (CMS) seemed to confirm this […]

LTC’s Simpson: Senior Care Centers Bankruptcy Has Dragged, but REITs Aren’t to Blame for Distress

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 […]

Bridgemoor Opens $20M Rehab Facility; Centre Care Breaks Ground on $45.3M SNF

Bridgemoor Transitional Care opened to the public a newly built short-term rehabilitation facility in Webster, Texas, with a final price tag of $20 million. Specifically targeting post-acute residents, the new Webster facility features 70 private suites equipped with bathrooms, an in-house pharmacy, and dialysis coordination, along with high-end food options and a salon. “Our Webster […]

Former Mainstreet Executive Takes Over Four Rapid Recovery Centers in Texas

The operations of four rehab-focused skilled nursing facilities developed by Mainstreet have been sold to a former company executive and his newly formed operating firm, Skilled Nursing News has learned. Led by Mark Fritz, who helped create the “Rapid Recovery Center” model for the Carmel, Ind.-based senior care developer, Bridgemoor now operates the quartet of […]