Looking Ahead to the Top Skilled Nursing Trends of 2019

We’ve made it to the end of 2018, which will likely go down as one of the most eventful years in the history of the long-term and post-acute care industry. Between the first round of Value-Based Purchasing penalties taking effect and the rapid rollout of the Patient-Driven Payment Model (PDPM), it’s probably a safe bet […]

Private Equity Must Be Nimble, Innovative to Succeed in Skilled Nursing

Tempted by demographic trends and a new reimbursement system, private equity has taken a keen interest in the skilled nursing industry over the past year. But executives at these investment vehicles would be foolish to think they can plug their existing models into nursing home business and expect the same kind of success they may […]

Washington Post Blames Private Equity for ManorCare Woes

Skilled nursing chain HCR ManorCare’s struggles were the direct result of its former private equity ownership, a Sunday report in The Washington Post alleged. The paper analyzed inspection records as part of the wide-ranging story, finding that the number of health code violations found at ManorCare rose from 1,584 in 2013 to nearly 2,000 in 2017 […]

QCP Clears Up Investor Objections, Welltower Deal Vote Remains on Track

Quality Care Properties (NYSE: QCP) last week announced steps to clear up a pair of lawsuits surrounding its impending acquisition by fellow real estate investment trust (REIT) Welltower Inc. (NYSE: WELL). The two class-action lawsuits — Sanderson v. Quality Care Properties and Kent v. Quality Care Properties — alleged that the REIT violated the Exchange […]

ManorCare Seeks Dismissal of QCP Receivership Case

After months of extensions, HCR ManorCare has finally responded to a receivership claim from its landlord — and the provider seeks to have the case dismissed. Quality Care Properties, Inc. (NYSE: QCP) announced early Tuesday that tenant ManorCare had filed a motion to dismiss “certain claims in the receivership complaint,” according to a filing with […]

ManorCare CEO Exits Amid Restructuring

HCR ManorCare President and CEO Paul Ormond has left his position as the skilled nursing provider continues to work through a potential restructuring with its landlord, real estate investment trust Quality Care Properties, Inc. (NYSE: QCP). The Bethesda, Md.-based REIT first announced Ormond’s departure from HCR ManorCare on Monday; he has already been replaced by […]

ManorCare Could Be Heading for a Breakup Amid Troubles

As HCR ManorCare, Inc.’s battle with landlord Quality Care Properties (NYSE: QCP) drags on, the most likely outcomes for the skilled nursing operator are bankruptcy or receivership, according to a bankruptcy lawyer with experience in health care industry restructuring. QCP, a Bethesda, Md.-based real estate investment trust (REIT), was reportedly close to a full equity […]

Must-Reads: Fortis in Receivership, SNFs’ Cloudy CCRC Future

Each week, we round up the most-read stories on Skilled Nursing News in one place — perfect for catching up on the top headlines you may have missed amid the health care reform collapse and other news out of Washington. Fortis Management Group, an operator of 60 skilled nursing facilities in the Midwest and Pacific […]

ManorCare Receives $550M Loan, Stays Mum on QCP Fight

Troubled skilled nursing operator HCR ManorCare, Inc. has reportedly received a half-billion-dollar loan, but the Toledo, Ohio-based firm remains quiet on whether it will use the money to end its protracted battle with landlord Quality Care Properties (NYSE: QCP). ManorCare secured a $550 million line of credit from the New York City-based private equity firm […]

Carlyle Appears Poised to Sell Off German Nursing Home Chain

The Carlyle Group has begun the process of selling off Alloheim, a German chain of nursing homes that the private equity firm initially acquired in 2013, according to a recent report. Unnamed sources told Reuters that the Washington, D.C.-based Carlyle could seek up to $1.1 billion for the 155-facility nursing home chain, which employs 14,500 […]

ManorCare Misses Latest Rent Payment to QCP

Skilled nursing operator HCR ManorCare, Inc. missed another rent payment, the latest milestone in a long-developing conflict with its landlord, Quality Care Properties, Inc. (NYSE: QCP). QCP, the real estate investment trust (REIT) that serves as ManorCare’s primary landlord, announced Wednesday that the provider had missed its July 3 rent deadline as attempts to restructure […]

Carlyle Group Reportedly Set on ManorCare Sale to QCP

The private equity firm that has owned skilled nursing provider HCR ManorCare for the past decade is currently in the process of “ceding control” to its landlord, Quality Care Properties, Inc. (NYSE: QCP), either through bankruptcy or an out-of-court settlement, the New York Post reported Sunday. Citing unnamed sources, the Post reported that Toledo, Ohio-based […]

N.Y. Post: HCR ManorCare CEO Demands $100 Million Payout

HCR ManorCare CEO Paul Ormond has asked for the immediate payment of a $100 million deferred settlement package stemming from a private equity takeover of the company back in 2007, according to a report in the New York Post. The Carlyle Group, a Washington, D.C.-based private equity firm, bought the Toledo, Ohio-based HCR ManorCare a decade ago […]

HCR ManorCare Falls Behind on Rent as Troubles Mount

HCR ManorCare failed to completely pay its June rent to primary landlord Quality Care Properties (NYSE: QCP), citing pressure from its secured lenders and decreased profit projections. One of the largest skilled nursing providers in the country, the Toledo, Ohio-based HCR ManorCare paid just $15 million of the $32 million it owed QCP for June rent, […]