The year 2024 will pose a challenging landscape for skilled nursing professionals, with staffing problems still creating headaches. And yet, optimism is increasing and providers seem eager to drive expansion amid overall positive expectations for occupancy growth. The Skilled Nursing Outlook 2024 survey, which SNN conducted in partnership with Net Health, points to leaders perceiving […]
For 2024, the nursing home industry’s focus must be on strategies that prioritize data accuracy, effective leadership, and innovative solutions as facilities evolve to meet changing demands and challenges from staffing. This is the view expressed during a webinar held Thursday based on a survey of our readers on their outlook for 2024 titled, “Skilled […]
Comprehensive Healthcare may be forced to close unless the owners are allowed to sell seven nursing homes, according to a report on Wednesday from TribLive, the website of the Pittsburgh Tribune-Review. Comprehensive currently operates 15 facilities. The seven facilities involved in the sale have a combined 747 beds, according to the report. The U.S. Department […]
The Future Leaders Awards program is brought to you in partnership with PointClickCare (BHB, SHN, SNN) and Homecare Homebase (HHCN, HSPN). The program is designed to recognize up-and-coming industry members who are shaping the future of behavioral health, home health, hospice and palliative care, senior housing and skilled nursing. To see this year’s Future Leaders, […]
After 20 acquisitions last year, Creative Solutions in Healthcare has no plans to slow down in 2023. The Texas-based company rang in the New Year adding two skilled nursing facilities to its roster, purchased from Southwest LTC, another regional player. Creative Solutions will also be acquiring eight more SNFs on Feb. 1, CEO Gary Blake […]
Diversicare Healthcare Services is currently on the hunt for a new leader to take the helm after former CEO Jay McKnight left the nursing home operator at the end of August. McKnight joined Tennessee-based Diversicare as executive vice president and CFO in 2012 before taking the helm as president and CEO in 2018. He’s also […]
Even skilled nursing industry insiders may not know a whole lot about the investor who recently bought Diversicare Healthcare Services properties – Ephram “Mordy” Lahasky. The private investor doesn’t maintain a corporate website and has “largely avoided reporters for years,” according to a MarketWatch article published Wednesday. MarketWatch spoke with Lahasky for its story; Skilled […]
The COVID-19 pandemic continued to put pressure on an already strained skilled nursing industry in 2021. The next 12 months will be yet another test of resilience. Looking ahead to 2022, SNFs must stay nimble and inventive to not only survive but thrive. Private equity will continue to lead the nursing home transaction market pack, […]
This year was another rollercoaster for the skilled nursing industry as operators – and truthfully the nation alike – went from the tail end of another covid surge, to the widespread availability of vaccines, then considerable optimism and a possible light at the end of the tunnel, back to another COVID-19 surge and as I’m […]
A merger agreement between DAC Acquisition LLC and Diversicare Healthcare Services (OTCQX: DVCR) is complete, according to an announcement made Friday. Diversicare’s stockholders will receive an amount of cash equal to $10.10 per share of Diversicare common stock, as was previously reported by Skilled Nursing News when the proposed deal was announced back in August. […]
Diversicare Healthcare Services (OTCQX: DVCR) published its earnings details on Tuesday, reporting a net loss from continuing operations at -$2.9 million, or -43 cents per share in the third quarter. During the third quarter of 2020, Diversicare reported a net income of $3.2 million from operations, or 48 cents per share. The Brentwood, Tenn.-based skilled […]
The average price per bed for nursing homes rose almost 22% year over year for the first quarter of 2021, as staffing shortages and slow occupancy recovery has done little to cool an already heated market, leaving some real estate investment trusts most active in the space disconcerted of what the future may hold. “If […]
DAC Acquisition LLC has entered into a merger agreement with Diversicare Healthcare Services (OTCQX: DVCR) for $10.10 per share in a deal announced on Friday. The price represents a value of approximately 256% from Diversicare’s closing share price on Aug. 19 at $2.84 and a premium of approximately 210% to the 90-day average trading price […]
A New York-based investor has expressed interest in buying nursing home operator Diversicare Healthcare Services. New York-based retirement assets manager MCS Plan and its manager Ephram “Mordy” Lahasky have offered to pay $10.10 for Diversicare’s shares, which closed Wednesday trading at $7.81, up $0.22 or 2.9%. Tennessee-based Diversicare, which has 61 facilities in nine states, […]
More than half of Diversicare Healthcare Services (OTC: DVCR) facilities are seeing spikes in COVID-19 cases, which CEO Jay McKnight attributed to the delta variant during the company’s second quarter earnings call. The Brentwood, Tenn.-based nursing home operator had “virtually no” cases as of its first financial quarter earnings call in May, McKnight said. “We […]
Diversicare Healthcare Services (OTC: DVCR) this week reported a financial boost from its decision to outsource therapy services, along with a significant cache of stimulus funds waiting for deployment. The Brentwood, Tenn.-based nursing home operator in November announced a shift from its wholly-owned Diversicare Therapy Services to Reliant Rehabilitation, a move that Jay McKnight predicted […]
Nursing home operator Diversicare Healthcare Services (OTCQX: DVCR) this week announced a deal to shift all of its therapy services to a third-party provider, Reliant Rehabilitation. The Brentwood, Tenn.-based chain had previously offered rehab care under Diversicare Therapy Services, a wholly owned subsidiary. “We believe that this transition will equip us to continue to be […]
Like many other nursing home operators, Diversicare Healthcare Services (OTC: DVCR) hasn’t been able to access sufficient COVID-19 testing supplies for all of its workers and residents. But among those who have tested positive, more than half displayed no symptoms at the time, a fact that the company says underscores the dire need for more […]
Despite a net loss for the quarter, skilled nursing operator Diversicare Healthcare Services (OTCQX: DVCR) touted its performance at the end of 2019, pointing to a 7.5% Medicare rate boost and generally positive performance under the new Patient-Driven Payment Model (PDPM). “With our portfolio changes behind us after the Kentucky exit and the implementation of the new […]
Diversicare Healthcare Services (OTC: DVCR) on Wednesday announced that it has formally closed the book on a Department of Justice investigation that has stretched for nearly eight years. The Brentwood, Tenn.-based skilled nursing provider will pay out the $9.5 million throughout the next five years to resolve a False Claims Act case regarding its therapy […]
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