Genesis HealthCare obtained a $395 million senior credit facility from White Oak Healthcare Finance this week, marking “an important step” in the operator’s restructuring. White Oak acted as the sole lender and administrative agent in the deal. “This loan is an important step in the restructuring of Genesis as a leader in high-quality health care […]
Geneis HealthCare
Sabra Health Care REIT (Nasdaq: SBRA) completed the sale of nine facilities leased to Genesis Healthcare (NYSE: GEN) for $81.4 million and one facility leased to Signature HealthCARE for $7 million. The Genesis facilities included seven skilled nursing facilities, one senior housing community and one continuing care retirement community (CCRC). As a result of the sale, […]
Industry experts are still sorting out the long-term effects of the Centers for Medicare & Medicaid Services’ (CMS) new payment system for skilled nursing facilities, but early reviews from the CEOs of some top providers have been positive. “I would say the rule that was just published is a positive for the industry,” Genesis Healthcare […]
Genesis HealthCare has signed a definitive agreement to sell 51% of its Chinese subsidiary, GRS-HS, to Riswein Health Industry Investment for $30 million. The deal is expected to close in the first quarter of 2019, subject to regulatory and licensing approvals and other customary conditions. GRS-HS will seek approval for a new, wholly owned foreign […]
MidCap Financial Closes First Mortgage Loan on 18 Genesis SNFs MidCap Financial, a middle market-focused commercial finance company, closed a $75 million first mortgage loan with Genesis HealthCare, Inc. (NYSE: GEN). The floating rate loan is secured by 18 skilled nursing facilities across eight states with 2,153 operating beds, and is part of a $630 […]
With managed plans gobbling up an increasing share of Medicare enrollees, skilled nursing executives need to gain fluency in the language of insurance providers — or risk being left behind. That was the message from a recent panel discussion at the National Investment Center for Seniors Housing & Care (NIC) Spring Investment Forum in Dallas, […]
Sabra Health Care REIT (Nasdaq: SBRA) is in a positive place following its recently approved merger with Care Capital Properties (CCP), according to several ratings agencies. Fitch Ratings on Wednesday increased Sabra’s rating from BB+ to BBB-, an investment-grade rating, while Standard & Poor’s boosted its corporate credit rating on the Irvine, Calif.-based real estate […]
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