PACS To Expand Footprint with 53-Facility Portfolio, Adding Nursing Homes in 8 States, ‘Substantially Surpassing’ Forecast

PACS Group (NYSE: PACS) plans to acquire the operations of 53 skilled nursing facilities as well as assisted and independent living facilities located across eight states, including five new markets for the company. The facilities in the pending deal are currently operated by family-owned Prestige and comprise 2,511 skilled nursing beds and 1,334 assisted living […]

Legislators Question Corporate Profits at 3 Nursing Home Giants Amid Efforts ‘To Kill’ Staffing Rule

The corporate spending of three publicly traded nursing home companies are at the center of questioning by legislators, who sent letters to them Sunday demanding more information on executive compensation, stock buybacks and dividends. In the midst of the industry’s opposition to the federal government’s minimum staffing mandate, the letters signed by the Senators Elizabeth […]

Ensign’s Port: CMS’ Nursing Home Staffing Rule May Be ‘Overturned or Significantly Altered’ 

Acquisitions and the federal nursing home staffing mandate were top of mind for leaders of Ensign Group (Nasdaq: ENSG), with CEO Barry Port suggesting that the highly contested national staffing rule may be overturned in federal court or thrown out altogether. “We’re encouraged to see bipartisan support in the legislature that could result in this […]

NHI Execs: Deal Volume in Nursing Home Sector Hopeful Sign, REIT Poised for Capital Deployment

National Health Investors Inc. (NYSE: NHI), much like other real estate investment trusts (REITs), is looking at deals across the continuum of skilled nursing and senior housing and looking into different ways to invest, including through joint ventures, executives said. “We’re hopeful that we’re seeing the tip of the iceberg,” said NHI Chief Investment Officer […]

‘Significant Bandwidth’: Ensign Reports Jump in Census, Managed Care Revenue, Expects Localized Growth  

Acquisitions and localized growth, along with the looming federal minimum staffing proposal and legal settlements were top of mind for executives of the Ensign Group (Nasdaq: ENSG) as the California-based organization closed out the year. Managed care revenue and census increased during the quarter by 12.3% and 3.5% respectively, compared to the prior year’s quarter, […]

‘Pillars of Stability’: NHI Says SNF Assets Strong, Even Poised to Handle Potential Staffing Mandate

National Health Investors (NYSE: NHI) posted a bumpy second quarter pressured by rent collection, but executives said the company continues to eye deals with expectations to announce new investments in 2023 as economic conditions are beginning to favor a “buyer’s market.” “[Tenants] are struggling in this post pandemic era, which introduces variability to our quarterly […]

SNFs Seen Facing Higher Labor Costs, Uncertain Interest Rates Among Other Macroeconomic Pressures

Labor costs and interest rates, among other macroeconomic factors, continue to affect the nursing home industry as use of temporary staff and AI also appear to be exerting an influence. That’s according to CliftonLarsonAllen’s (CLA) economic outlook for 2023, which outlined industry priorities for the next couple of years. Containing labor costs in part by […]

Ensign Adds SNFs in Colorado, Washington; Los Angeles Group Purchases SNF for $11.5M

The Ensign Group (Nasdaq: ENSG) announced Wednesday that it has acquired Rehabilitation and Nursing Center of the Rockies to further strengthen its position in the skilled nursing and senior living sector in Colorado. The facility, a 96-bed skilled nursing facility based in Fort Collins, Colo., was acquired along with its operations and real estate by […]

NHI CEO: ‘Significant’ Capital to Deploy, Skilled Nursing Still a Strength in Portfolio

National Health Investors (NYSE: NHI) reported a favorable first quarter, with executives saying Wednesday that the company is well positioned to return on historical investment trends as market conditions improve. “We are content to be patient and believe we are in the enviable position of having significant capital to deploy at a time when capital […]

Sabra CEO: Signature Posts Solid Q1 After Tough 2022, SNFs on Upswing with ‘Worst Behind Us’

Ongoing portfolio restructuring suppressed first quarter earnings for Sabra Health Care REIT (Nasdaq: SBRA), but executives are bullish on improving market conditions and metrics for skilled nursing. “It feels good to at least believe that we’ve gotten the worst behind us, and I really do feel pretty good about things going forward,” CEO Rick Matros […]

Ensign CEO: Feds’ Staffing Mandate May Include Long Phase-In, Lots of ‘Wood to Chop’ on Big California Portfolio

Nursing home operators may see a long phase-in for a federal minimum staffing requirement, and a host of exceptions, when more details finally come – but, it’s difficult to speculate on hypotheticals and may not help operators to dwell on the “what-ifs.” That’s according to Ensign Group (Nasdaq: ENSG) CEO Barry Port, who weighed in […]

5 Skilled Nursing Providers to Watch in 2023

With reporting from Tim Mullaney and Zahida Siddiqi With the number of nursing home beds in decline across the United States — and providers large and small divesting of facilities, exiting the industry or shutting down completely — some organizations are finding ways to grow. Expansion is one theme uniting this year’s skilled nursing providers […]

Ensign Eyes Growth Into New States, Exercising Caution in ‘Tricky Period’ for Industry

The Ensign Group (Nasdaq: ENSG) is looking to expand into Mid-Atlantic states and cautiously eyeing other opportunities while remaining focused on successfully transitioning recently acquired properties, company leaders said Tuesday. The company recently took over operations of 17 skilled nursing communities (SNFs) in California, as part of a previously announced deal with Sabra Health Care […]

Ensign Adds 17 Skilled Nursing Communities as Sabra Deal Closes 

The Ensign Group (Nasdaq: ENSG) on Wednesday announced that the company is assuming operations of 17 skilled nursing communities in California, as part of a previously announced deal with Sabra Health Care REIT (Nasdaq: SBRA). That deal involves 20 communities total, which previously were operated by North American Health Care. The properties located in Ensign’s […]

Sabra, LTC Properties Execs: Skilled Nursing Faces ‘Slog’ in 2023, High-Acuity Care an Opportunity

The coming year will be “a bit of a slog” for skilled nursing, but operating and financial headwinds should ease over the course of 2023. That’s the viewpoint of Rick Matros, CEO of Sabra Health Care REIT (Nasdaq: SBRA), which owns 270 skilled nursing and transitional care properties, along with senior living, behavioral health and […]

Top Skilled Nursing Trends for 2023

Economic uncertainty, staffing shortages, looming federal regulations, a new COVID variant and major changes to the Minimum Data Set (MDS) are just a few of the challenges facing the skilled nursing sector at the dawn of 2023. But a new year is also a time for optimism. Favorable Medicaid policies, the growth of strong regional […]

SavaSeniorCare Expects to Cease Operations by Early 2023

After divesting of its sizable portfolio over the course of several years, SavaSeniorCare will cease to exist as a company once its last five nursing homes transition to other operators, which the company expects to occur by the end of January 2023. The end of Atlanta-based Sava marks another sea change in the skilled nursing […]

Transactions & Financings: Saber Takes on 6 Facilities; Ensign Adds 2 SNFs

Senwell advises on sale of 6 facilities to Saber Healthcare Senwell Senior Investment Advisors advised sellers on the sale of six facilities in North Carolina, made up of 691 licensed beds divided between five skilled nursing facilities and one assisted living facility, located across North Carolina. The sellers wanted to transition the property to a […]

‘Nothing More in the Tank’: With Administrators Mired Down, Skilled Nursing Sector Will Struggle to Recover, Evolve

Administrators and executives with decades of experience believe leadership in the skilled nursing space has fundamentally changed. A reactionary mindset has taken hold among nursing home administrators, affecting morale within facilities and slowing the evolution of the sector. It’s incredibly difficult to look at overall recovery and have a wider perspective when there’s such a […]