Summit Healthcare REIT, Inc. acquired an interest in 14 skilled nursing and assisted living facilities in Indiana for $125 million, with plans to lease them back to the seller on a triple-net basis. The acquisition, announced Wednesday, was made through a newly formed joint venture among a wholly-owned subsidiary of Summit, a real estate holding […]
Evangelical Lutheran Good Samaritan Society
Capital Funding closed a $12.3 million refinance loan for a 105-bed skilled nursing facility in Baltimore through the Department of Housing and Urban Development’s (HUD) 223(f) program. The borrowers will use the proceeds in part to pay off debt on two other properties in their portfolio of SNFs, according to the Baltimore-based Capital Funding. The […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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. […]
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 […]
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 […]
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 […]
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 […]
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 […]
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, […]
Now that the Senate’s compromise spending plan has become law, skilled nursing providers must figure out how to make do with fewer Medicare dollars over the next 10 years. The decline comes from a freeze in the Medicare market basket rate, which the new budget has set at 2.4% in fiscal 2019. The industry had […]
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 […]
Texas SNFs Receive $27.6 Million in Financing Hunt Mortgage Group, a national commercial real estate financing firm, provided a $27.6 million loan to Senior Living Properties, LLC to refinance eight Texas skilled nursing facilities. The loan was arranged through the HUD LEAN program, which finances senior housing properties. The Fort Worth, Texas, HUD office that […]
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