The Ensign Group (Nasdaq: ENSG) announced Friday that it has acquired several skilled nursing facilities in Iowa and Colorado. Ensign acquired the real estate and operations of Greater Southside Health and Rehabilitation, an 76-bed skilled nursing facility located in Des Moines, Iowa. The real estate was acquired by a subsidiary of Standard Bearer Healthcare, Ensign’s […]
Ensign Group
CareTrust REIT (NYSE: CTRE) has been busy with its investment pipeline this week, announcing $378 million in new investments after June 30, and on top of $268 million in investments during the second quarter. Chief Investment Officer James Callister said competition for skilled nursing acquisitions is high as oncoming improvement and post-COVID performance has resulted […]
While hopeful that the Supreme Court’s recent Chevron decision will undermine the federal staffing mandate and lead to a more rational regulatory environment, leaders in the nursing home sector also are warning that the ruling could create a period of uncertainty and tumult. Steve LaForte, director of corporate affairs and general counsel for Idaho-based Cascadia […]
Occupancy shifts appear to be happening across the largest nursing home operators, with the Ensign Group (Nasdaq: ENSG) seeing facility occupancy fall as other leading sector players showed gains while overall sector occupancy levels remained steady. Ensign’s occupancy levels dropped to 78.5%, posting a loss of 40 basis points. Meanwhile, PACS Group (NYSE: PACS) saw […]
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 […]
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 […]
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 […]
As a “chunk” of the nursing home sector teeters on the brink, the political will of the White House and the unions to implement the federal staffing mandate appears to be at odds with its practicality, affording the industry a chance to challenge it both legislatively and legally. This view was expressed by Ensign CEO […]
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 […]
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, […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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