How One Skilled Nursing Provider is Revolutionizing Short-Term Rehab [Sponsored]

Within a competitive landscape for skilled nursing rehab, many providers are seeking ways to differentiate themselves for their patients and their referral partners. One New York-based provider is doing just that and is recording success with its new model. Centers Health Care, based in the Bronx, N.Y., has launched a new program, coined “GO,” across […]

Blueprint’s Four-Building Play in Boston, Georgia; Ascentria Grows in Mass.

Blueprint Healthcare Real Estate Advisors arranged the sale of four skilled nursing facilities with 400 beds on the East Coast, the Chicago-based brokerage announced last week. The four properties — three in greater Boston and one between Atlanta and Savannah, Ga. — had occupancy of 88% and annual revenues of $20 million at the time […]

Centers Sees Skilled Nursing Admissions Boost with ‘Concierge’ Conversions

A patient sent to a skilled nursing facility for rehabilitation usually comes from the hospital, but as the health care system changes, more and more patients will be making choices outside of the acute care setting. That includes decisions about rehab, and with that in mind, Centers Health Care recently launched a concierge rehab program […]

Centers’ $19M Hospital-to-SNF Conversion Moves Forward; $28M Construction in FL

Centers Moves Forward on Hospital Conversion Nearly five years after buying a defunct hospital in Brooklyn, Centers Health Care is nearing completion on a skilled nursing conversion project. Formerly St. Mary’s Hospital, the 280-bed facility in the Crown Heights neighborhood had sat vacant since a 2005 bankruptcy, according to a report on the local news site […]

Greystone Provides $100M in Financing for Two Centers Health Care SNFs

Greystone on Wednesday announced the origination of $100.75 million in loans, insured by the Department of Housing and Urban Development (HUD), to refinance two skilled nursing facilities in the state of New York. The loans were originated for Centers Health Care by Fred Levine, managing director in Greystone’s Monsey, N.Y. office. Centers has roughly 50 facilities […]

Centers Pays $1.6M Over Alleged Managed Medicaid Fraud in New York

An affiliate of skilled nursing provider Centers Health Care paid a $1.65 million settlement to the New York State and federal governments over allegations that its managed Medicaid plan falsely billed for services. The Centers Plan for Healthy Living LLC submitted monthly state Medicaid claims of up to $4,300 per member for services that it […]

Centers Looks to Continue Skilled Nursing Turnaround Work in Missouri

Centers Health Care’s recent skilled nursing acquisition in Missouri didn’t follow the same pattern as the Bronx, N.Y.-based operator’s growth in the Northeast, but that’s all part of its approach to acquisitions. Last month, the provider acquired three former Serenity Care Group locations in the Kansas City, Mo. market last month, marking the company’s first move into the […]

Four-Building Portfolio Sells for $35M; Centers Adds Kansas City Facilities

Liberty Village of Rochelle to Hold Groundbreaking for New Facility Liberty Village of Rochelle in Illinois will hold a groundbreaking ceremony for its new Manor Court Skilled Nursing and Rehabilitation Center on June 20, the Rochelle News-Leader reported. The skilled nursing facility is planned for 64,000 square feet and 92 beds, and is scheduled to open […]

Skilled Nursing Transactions: Genesis, Ziegler, Centers Health Care

Genesis Nursing Home in Dayton Sells for $4.8M The 120-bed Genesis HealthCare New Lebanon Center was sold on Jan. 4 for $4.85 million to two limited liability companies: New Lebanon Propco LLC and New Lebanon Propco TIC II LLC. The Dayton Business Journal reported the sale, citing property records in Montgomery County, Ohio. Both companies list […]

Skilled Nursing Transactions: Cascadia Now Largest Post-Acute Operator in Idaho

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 […]

Why One New York Investment Firm Sees Promise in Skilled Nursing

At a time when investors remain skittish about skilled nursing, one New York real estate investment firm helped a Brooklyn SNF secure a $78 million loan, the latest milestone in a 15-year partnership. Recently, New York-based real estate lending, investment, and advisory services firm Greystone provided a $78.4 million HUD-insured permanent refinance loan for New York-based Centers Health […]