Genesis Sells 15 Skilled Nursing Facilities as Texas Exit Continues

Genesis HealthCare (NYSE: GEN) this week sold 15 skilled nursing facilities in Texas and handed off the operations of a 16th leased facility in the state. The transaction, announced late Tuesday, leaves seven Genesis SNFs in the state, with the company planning to sell all seven during the fourth quarter of this year. Previously, the […]

Genesis CEO Hager on Leadership, PDPM, and the ‘Medicaid Problem’

Genesis Healthcare (NYSE: GEN) has been working to optimize its portfolio in a year of troubles both for the company and the skilled nursing industry at large — with a goal of properly positioning for the future as changes loom large in the space. Leading that effort is CEO George Hager Jr., who has served […]

Genesis Opens Pennsylvania Rehab Location; PruittHealth to Develop in North Carolina

Genesis Opens Short-Term Rehab Center in Exton, Pennsylvania Genesis Healthcare (NYSE: GEN) opened its 12th PowerBack Rehabilitation location in Exton, Penn., The Daily Local News reported. The 85,000 square-foot Exton center includes a rehabilitation gym and 120 private suites. It is expected to employ approximately 300 people, according to the publication. The PowerBack Rehabilitation service […]

Sabra Continues Genesis Exit, Joins Others in PDPM Support

Sabra Health Care REIT, Inc. (Nasdaq: SBRA) joined the chorus of voices praising the new skilled nursing payment model from the Centers for Medicare & Medicaid Services (CMS) on its second-quarter earnings conference call Thursday. “CMS issued their final rule affirming the Oct. 1 2.4% market basket increase and the implementation of PDPM in October of […]

Genesis Upbeat About Second Quarter Despite Loss, Offers Praise for PDPM

Genesis Healthcare (NYSE: GEN) recorded another net loss for 2018 in the second quarter, but CEO George Hager stressed that Q2 “was a significant and very positive quarter” for the troubled skilled nursing giant. Genesis reported a net loss of $39.61 million, or $0.39 per share, for the second quarter of 2018, compared with a net […]

Sabra Sells 12 Genesis Facilities, 8 Former CCP Buildings for $174M

Sabra Health Care REIT (Nasdaq: SBRA) on Monday announced the sale of 20 total buildings as its so-called “Genesis Exodus” nears completion. The Irvine, Calif.-based real estate investment trust (REIT) closed on the sale of 12 more properties operated by Genesis Healthcare (NYSE: GEN) last Friday, with a total price tag of $134 million. That […]

Amid Issues at Home, Genesis Sees Significant Potential in China

Facing headwinds at home, Genesis Healthcare (NYSE: GEN) has embarked on a plan to tap into the nascent post-acute care market in China — with an eye on capturing just a small fraction of the country’s favorable demographic profile. The Kennett Square, Pa.-based skilled nursing provider has been active in China since 2015, when it […]

Sabra CEO: ‘Old Testament’ Almost Over As Genesis Exodus Wraps

Sabra Health Care REIT (Nasdaq: SBRA) on Thursday expressed optimism about the Centers for Medicare & Medicaid Services’ (CMS) new skilled nursing payment model and stressed its focus on executing its divestiture programs — particularly its sale of facilities operated by Genesis Healthcare (NYSE: GEN). Under the new model, incentives shift from short-term rehab to complex […]

Genesis: Medicare Advantage Provides Blueprint for New Payment Model

As the skilled nursing industry continues to digest the effects of the new Medicare proposed payment system, one CEO says that Medicare Advantage can provide a path forward. The new Patient-Driven Payment Model (PDPM) isn’t all that different from the way managed Medicare plans expect operators to provide services and bill for their time, Genesis […]

Welltower Acquires QCP for $1.95B, Health System to Take Over ManorCare

The fates of skilled nursing giant HCR ManorCare and its former landlord, Quality Care Properties (NYSE: QCP), have been determined. Welltower Inc. (NYSE: WELL), one of the largest U.S. health care real estate investment trusts (REITs), has reached an agreement to acquire QCP in a $1.95 billion all-cash deal. Going forward, Welltower will own the […]

Welltower, ProMedica Reportedly Eyeing $2B Acquisition of QCP

A non-profit health system and a major real estate investment trust (REIT) are reportedly teaming up to buy Quality Care Properties (NYSE: QCP) for $2 billion. The ProMedica hospital system and Welltower, Inc. (NYSE: WELL) have already made that offer, according to sources that spoke to the Reuters news service — which would value QCP at about […]

Genesis to Exit Texas, Divest 24 Skilled Nursing Facilities

Post-acute giant Genesis Healthcare, Inc. (NYSE: GEN) will completely exit the skilled nursing space in Texas, selling 23 facilities and transferring operations of a 24th by the middle of this year. The Kennett Square, Pa.-based operator announced the deal late Wednesday night, with the buyer identified as Regency REIT, LLC. That New York City-based real […]

Signature Explores Home Health Expansion Amid Skilled Nursing Troubles

After a pointed entrance into the home health care market in 2014, Signature HealthCARE has largely shied away from expansion in favor of focusing on its core skilled nursing business. But while its home health footprint has not yet grown, the Louisville, Ky.-based company still has an eye toward expansion in the space — once it works […]

Genesis Posts $89M Loss in Fourth Quarter, Pledges Sunnier 2018

Genesis HealthCare, Inc. (NYSE: GEN) lost $89.2 million in the final quarter of 2017 and $579.0 million over the course of last year — numbers that the company continues to blame on the overall skilled nursing landscape. “As health care reform continues to transform the delivery of health care by changing reimbursements and holding providers […]

Genesis CEO Says Nationwide Scale Brings Skilled Nursing Strength

Regional has increasingly become the name of the game in skilled nursing, but Genesis HealthCare (NYSE: GEN) expressed confidence in its scale during a presentation at the Barclays Global Healthcare Conference on Thursday. “There’s been a lot of discussion in the markets around the benefits of scale or the benefits of operating as a small local operator,” […]

Genesis Regains NYSE Compliance After Delisting Warning

Three months after Genesis Healthcare, Inc. (NYSE: GEN) received a delisting warning from the New York Stock Exchange, the skilled nursing provider is back in the exchange’s good graces. The Kennett Square, Pa.-based company on Thursday announced that it has once again met the NYSE’s continuing listing standard and will shed the “.BC” — for […]

Welltower Defends Genesis Moves Despite ‘Bumpy’ Outlook

Welltower Inc. (NYSE: HCN) is upbeat about one of its most troubled tenants, even though the road ahead looks bumpy. CEO Tom DeRosa spent a good portion of Thursday’s fourth-quarter earnings call talking up one of the real estate investment trust’s (REIT) largest post-acute operating partners, Kennett Square, Pa.-based Genesis HealthCare (NYSE: GEN). Welltower’s wholly-owned Genesis portfolio […]

Sabra CEO: Signature Deal Likely, Genesis Model ‘Does Not Work’

The CEO of Sabra Health Care REIT (Nasdaq: SBRA) on Thursday indicated that a deal to restructure Signature HealthCARE could soon be in the cards. “We have an agreement with the other primary landlords on Signature,” Sabra CEO Rick Matros said on his company’s fourth-quarter earnings call with shareholders and analysts — though he added […]

Ensign: The Skilled Nursing Business Isn’t As Hard As It Seems

The Ensign Group (NASDAQ: ENSG) announced solid earnings for the fourth quarter of 2017 — and took a not-too-subtle shot at some of its competitors. The Mission Viejo, Calif.-based post-acute provider saw a 40.2% increase in revenues related to transitional and skilled nursing care from the fourth quarter of 2016, along with gains in occupancy […]

Movers & Shakers: Genesis Rehabilitation Services, Landmark Connect

Hirschfeld Steps Down from Genesis Rehabilitation Services Daniel Hirschfeld, executive vice president and chief operating officer of international operations and president of Kennett Square, Pa.-based Genesis Rehabilitation Services, announced his resignation from the firm, effective Jan. 31. Until then, Hirschfeld will remain in his current position. Beginning Jan. 31, Hirschfeld will support Genesis Healthcare, Inc. […]