Sanford: Adding Skilled Nursing Provider Good Sam Boosts M&A Profile

Adding skilled nursing provider Evangelical Lutheran Good Samaritan Society could make hospital network Sanford Health even more attractive to other health systems – even as the newly combined non-profit tries to dismantle the silos between acute and post-acute care. That’s according to David Horazdovsky, Good Samaritan’s CEO, and Randy Bury, who transitioned to the role of […]

Good Samaritan and Sanford Health Complete Merger

The Evangelical Lutheran Good Samaritan Society, one of the largest non-profit senior living and care providers in the U.S., on Wednesday officially completed its marriage to Sanford Health. As a result of the combination, Sanford Health now employs almost 50,000 people. As of June 2018, when the combination of Good Samaritan and Sanford was approved […]

Bankrupt Preferred Care Offloads Two SNFs; $5.3M Expansion in Nebraska

Preferred Care Selling Two Santa Fe Nursing Homes Preferred Care, which declared bankruptcy in November of last year, is selling two nursing homes in the Santa Fe, N.M. area, the Santa Fe New Mexican reported. Genesis HealthCare (NYSE: GEN), based in Kennett Square, Pa., is acquiring the Casa Real nursing home; the major nationwide provider […]

Providers Must Target Rehab Contracts, Cash Flows Now Ahead of PDPM

As skilled nursing providers start preparing for the new Medicare payment model, they need to zero in on how much money they’re making now on the various services they provide. Specifically, they need to brush up on their ICD-10 codes, which will play a key part in the setting of their reimbursement rate, as well […]

Ohio SNF Sells for $1.7M; Pittsburgh SNF Gets $19.5M Bridge Financing

Dayton, Ohio, Skilled Nursing Sells for Almost $1.7M The Forest View Care and Rehabilitation Center in Dayton, Ohio, was sold for almost $1.7 million, WHIO-TV reported on Oct. 11, citing property records. The facility was sold to Forestview Propco LLC by Sabra Health Vcare, according to the records. Forestview Propco has a Chagrin Falls, Ohio mailing address. Another nursing facility in […]

Has the Skilled Nursing Industry Finally Hit Bottom?

As summer ends, it’s tempting to start looking ahead to what 2019 will hold for the skilled nursing industry. While the widely praised new payment model will likely grab the most attention, next year could also signal an upward climb out of an industry valley, or more troubled times ahead — depending on who you […]

Sanford, Fresh Off Good Samaritan Merger, Eyes $1B Chicago Health System

Non-profit hospital system Sanford Health is on track to complete a merger with a skilled nursing provider by fall, and a recent report hints that the operator isn’t done expanding. The Sioux Falls, S.D.-based Sanford could soon announce a merger with a $1 billion health system based in Chicago, CEO Kelby Krabbenhoft teased to SiouxFalls.Business. […]

Good Samaritan-Sanford Merger Clears Regulatory Review, On Pace to Close in 2018

The Evangelical Lutheran Good Samaritan Society and Sanford Health cleared government reviews without objection, the companies announced on Friday, marking another step in the merger between the non-profit senior care and hospital heavyweights. The regulatory review included the North Dakota Attorney General’s Office, the South Dakota Attorney General’s office, and an anti-trust review under a Hart-Scott-Rodino […]

NHI Sees Promise As Health Systems Move Into Skilled Nursing

Recent deals by nonprofit health systems ProMedica and Sanford Health to acquire skilled nursing facility operations have put the sector on notice — and one CEO can understand why. Eric Mendelsohn, the President and CEO of National Health Investors (NYSE: NHI), said he hasn’t seen health systems coming to the table for senior living and care […]

Having an In-House Insurance Plan Could Signal PDPM Success

Some skilled nursing providers have turned to in-house insurance plans to take more control of the care process, and the move could pay off if the government’s new proposed reimbursement model is finalized. The Patient Driven Payment Model (PDPM), which the Centers for Medicare & Medicaid Services (CMS) proposed in April, would overhaul skilled nursing reimbursements […]

Good Samaritan, Sanford Target Continuum Control with Merger Deal

The Evangelical Lutheran Good Samaritan Society and Sanford Health took a key step forward in their plans to merge, signing an affiliation agreement Tuesday to combine the two Sioux Falls, S.D.-based non-profit organizations. Pending regulatory review, hospital chain Sanford and senior care heavyweight Good Samaritan expect to combine by Jan. 1, 2019. The result — if everything […]

Good Samaritan and Sanford Hospital System Agree to Merge

The Evangelical Lutheran Good Samaritan Society, one of the largest non-profit senior care providers, on Tuesday announced a vote to approve a merger with Sanford Health, a not-for-profit health system. Good Samaritan has more than 200 locations across the U.S. with about 80 skilled nursing facilities, while Sanford has 44 hospitals. Both organizations are based in Sioux […]

Providers Move Into Insurance to Ride Medicare Advantage Momentum

As Medicare Advantage continues to capture a greater share of seniors, some skilled nursing providers are looking to get a head start by becoming insurers themselves. Operators have found institutional special needs plans (I-SNPs), a special type of Medicare Advantage program that covers beneficiaries in need of in-home nursing care or confined to an institution, […]

How South Dakota Got Its First New SNF in 30 Years

The Evangelical Lutheran Good Samaritan Society’s new 30-bed skilled nursing facility in Rapid City, South Dakota, will be the first in the state since 1988. That was the year the state implemented a moratorium on new nursing home construction. It was also the year South Dakota repealed its certificate of need (CON) system, which covered […]