TSOLife completed a $9 million Series A funding round for its AI-based business intelligence platform that translates and transcribes resident interviews and converts the information into consumable data. Data dashboards can be utilized by skilled nursing staff to look for actionable trends and insights. “TSO is the tip of the spear in gathering social insights […]
Formation Capital
Skilled nursing leadership believes the sector won’t be receiving any more significant funding support from the federal government moving ahead, despite a dragging occupancy rebound and historic labor shortage. The SNF market will become increasingly more financially stressed as operators struggle to pay back Medicare advances and payroll tax deferrals as well, according to Brian […]
Almost one year ago exactly, Brian Beckwith ended his tenure as CEO of Formation Capital and began to consider his next moves. Sheryl Marcet was also considering her future. At the time, Marcet was a managing director at Formation, and she had first worked with Beckwith when they were both at GE Capital. Beckwith and […]
Formation Capital has a new CEO and is embarking on an investment strategy focused on creating new models of senior living and services. Atlanta-based Formation has been a prolific investor in the senior housing and care sector since its founding in 1999. As of last year, when long-time CEO Brian Beckwith departed, the firm was […]
Brian Beckwith, who has served as CEO of the Atlanta-based private equity firm Formation Capital for almost a decade, is departing the firm. Formation specializes in senior housing and care investments and has sponsored about $2 billion of equity across senior living, skilled nursing and other post-acute services since it was founded in 1999. The […]
An operator with several skilled nursing facilities in the states of Washington, Oregon, and Idaho has filed for Chapter 11 bankruptcy protection, citing issues with its secured debt and — in chorus with other bankrupt operators across the country — problems with its leases. Cornerstone Healthcare Services operates 14 SNFs in the states of Washington, […]
The structure and finances of private equity investors in the skilled nursing space have come under the federal microscope, with two U.S. senators and a U.S. representative demanding answers from four major firms about their investment in nursing homes. Presidential hopeful Sen. Elizabeth Warren, along with Sen. Sherrod Brown and Rep. Mark Pocan, sent strongly-worded […]
Formation Capital remains a heavyweight in the private investment space for senior housing and care, but its CEO says that its skilled nursing tastes have become more opportunistic as capital continues to aggressively chase available properties. The Atlanta-based Formation this past spring sold off a 12-property skilled nursing portfolio in Virginia and Pennsylvania, and CEO […]
Greystone on Tuesday announced the successful closing of a nearly $72 million bridge loan used in the acquisition and refinance of a seven-building skilled nursing portfolio across North Carolina and Kentucky. The New York City-based lending and advisory firm extended 24-month payment terms on the $71.9 million bridge financing, along with a pair of six-month […]
Formation Capital has a long history in skilled nursing and based on our conversation with Arnold Whitman — its founder and chairman — the company continues to see a big opportunity for the industry to take advantage of the shift to value-based care. During the National Investment Centers for Seniors Housing & Care (NIC) conference in […]
Despite all the doom and gloom in the skilled nursing industry in recent years, at least one major financial player thinks the time is ripe for operators and investors to expand. “We, as an industry, need to be at parity in the health care delivery system,” Formation Capital Founder and Chairman Arnold Whitman said during […]
Each week, we round up the most-read stories on Skilled Nursing News in one place — perfect for catching up on the top headlines you may have missed amid the health care reform collapse and other news out of Washington. Fortis Management Group, an operator of 60 skilled nursing facilities in the Midwest and Pacific […]
A group of skilled nursing properties that changed hands in a sizable transaction two years ago has seemingly fallen on hard times. Fortis Management Group announced on July 12 it filed for a receivership in an agreement with its landlords. The company operates 60 skilled nursing and five assisted and independent living facilities spread across Wisconsin, Michigan, Minnesota, Oregon, Idaho […]