A growing number of skilled nursing providers are adopting a regional “pod cluster” model championed by nursing home giants such as Ensign Group (Nasdaq: ENSG), National HealthCare Corp., and PACS Group (NYSE: PACS), to gain operational efficiencies, foster collaboration, and drive better clinical and financial outcomes. And now, Genesis too is eyeing the pod cluster […]
The Ensign Group acquired the real estate and operations of a 117-bed skilled nursing facility in Washington from Providence Home and Community Care. Meanwhile, CIBC Bank closed a $32 million cash-out commercial mortgage refinance related to two skilled nursing facilities located in Kentucky and Tennessee. Ensign acquires Washington SNF The Ensign Group (Nasdaq: ENSG) acquired […]
The Ensign Group (Nasdaq: ENSG) closed a strong first quarter, marked by wage and labor stability, as the company looks ahead to a steady pace of investments. “We are thrilled to announce another record setting quarter achieved by our local teams. In spite of all the industry noise,” CEO Barry Port said during the company’s […]
Larger nursing home chains have been selective in making acquisitions amid an abundance of facilities for sale. However, now seems to be a good time for growth, as several industry players announced on Wednesday the acquisition of nursing homes and other long-term care assets. Ensign and CareTrust partnered in a transaction involving a California-based campus […]
PACS Group (NYSE: PACS) leaders are facing a shareholder lawsuit tied to an alleged scheme to submit false Medicare claims. Five PACS executives, including CEO Jason Murray and CFO Derick Apt, are named as defendants in the now-consolidated federal securities fraud class action lawsuit. According to the complaint filed on March 21, these PACS executives […]
The Ensign Group (Nasdaq: ENSG) on Monday announced a slew of new acquisitions of skilled nursing and senior living across four states – Washington, Alaska, Oregon and Arizona. In most of the transactions, the real estate was acquired by a subsidiary of Standard Bearer Healthcare REIT, Ensign’s captive real estate company. The acquisitions are effective […]
Skilled nursing deals are plentiful, and private equity has a large role to play in their abundance, according to leaders at Sabra Health Care REIT (Nasdaq: SBRA). This trend comes amid the possibility of Medicaid cuts, which could be watered down eventually from the current package presented by House Republicans, they noted. Speaking during Sabra’s […]
The Ensign Group (Nasdaq: ENSG) in the next few months expects to close on assets in two new states, Alaska and Oregon, and leadership says the operator has significant bandwidth to grow in 35 other states. Ensign’s footprint spans 15 states currently, including 12 new operations added in the fourth financial quarter alone, which includes […]
The Ensign Group (Nasdaq: ENSG) and its captive real estate company Standard Bearer REIT acquired five skilled nursing facilities in Texas for undisclosed amounts, between Jan. 31 and Feb. 3. Standard Bearer exercised its purchase option for Texas properties Beacon Harbor Healthcare & Rehabilitation, a 190-bed facility, along with 126-bed Pleasant Manor Healthcare & Rehabilitation, […]
Average occupancy for the nursing home sector grew slightly to 80.5% towards year-end, posting a 10-basis-point increase month over month. Over the course of last year, occupancy levels showed a recovery back to pre-pandemic levels. Moreover, according to Stephens Inc.’s latest figures updated through Dec. 1 and released Wednesday, average occupancy for two large sector […]
Indiana-based Majestic Care added six properties in Ohio to its portfolio. Meanwhile, Ensign announced its part in a recent acquisition of Alabama and Tennessee properties formerly operated by American Health Communities and Rehab America. Majestic Care Adds Six Nursing Homes in Ohio Indiana-based Majestic Management added six long-term care facilities to its portfolio effective Dec. […]
Strawberry Fields to Buy Facilities in Kansas for $24M Strawberry Fields REIT (NYSE American: STRW) is set to purchase six long-term care facilities in Kansas for $24 million using current working capital, consisting of five nursing homes and one assisted living property. All 354 licensed beds will be leased to Advena Living, led by Willie […]
The Ensign Group (Nasdaq: ENSG) will be adding eight facilities from Providence Home and Community Care across four states: Alaska, Washington, Oregon and California. This marks the first time the San Juan Capistrano, California-based company is expanding into Alaska and Oregon, Ensign Chief Investment Officer Chad Keetch said in a statement. This brings Ensign’s growing […]
CareTrust REIT (NYSE: CTRE) has acquired a 46-facility skilled nursing and senior housing portfolio for $97 million, the San Clemente, California-based real estate investment trust announced Monday morning. The portfolio is located in the Midwest and is being acquired “in coordination with the bankruptcy and sale of all assets of the debtor/seller,” according to CareTrust’s […]
Ensign Group (Nasdaq: ENSG) executives offered an optimistic outlook for the sector and the company’s future, driven by operational improvements, disciplined acquisitions, and the potential easing of regulations and steady reimbursement rates under President-elect Donald Trump, with the minimum staffing mandate likely never seeing the light of day. “Our overall take on [the incoming administration] […]
Nursing home operator PACS Group (NYSE: PACS) delayed the release of its third-quarter earnings, providing only preliminary results on Wednesday as it carries out an internal audit and cooperates with a federal investigation into its referral and reimbursement practices. Originally scheduled for Nov. 7 after market close, PACS now expects to disclose its financial results […]
Former president and CEO of the American Health Care Association and National Center for Assisted Living (AHCA/NCAL) Mark Parkinson will be joining Comprehensive Rehab Consultants’ (CRC) board of directors as of Nov. 4. There was a “powerful alignment” in goals and values between Parkinson and leadership for CRC when they first connected, the company said […]
Leaders with CareTrust REIT (NYSE: CTRE) added more detail surrounding the company’s latest investments, including the acquisition of 31 skilled nursing facilities in Tennessee and Alabama for $500 million, along with another transaction yet to close for $57 million involving four skilled nursing facilities located in the Northeast. American Health Partners was announced as the […]
Ensign Group’s (Nasdaq: ENSG) strong quarterly earnings were fueled by solid operational performance at transitioned facilities. Encouraged by recent acquisition success, executives said they plan to expand into new states while prioritizing growth in existing markets. “We’re particularly impressed with these results given that we’ve added 53 new operations across several markets in our recently […]
Ensign Group’s (Nasdaq: ENSG) acquisition of a Nebraska-based health care campus with an 83-bed skilled nursing facility expands its portfolio to 324 operations across 14 states. Meanwhile, Ziegler closed $48.7 million in acquisition financing for EveryAge and $82.27 million in financing for Presbyterian Retirement Communities Ensign acquires health 83-bed care campus in Nebraska The Ensign […]
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