Nursing home sector leaders and financial backers are basing their future plans heavily on Medicaid rate increases seen across the country, as some states meet the moment with substantial increases to combat inflationary pressures and staffing costs. Others, meanwhile, haven’t increased rates in a meaningful way and have not kept pace with increased costs that […]
As the nursing home industry continues to work its way through ongoing workforce and occupancy challenges, one of the nation’s largest owners of skilled nursing facilities is keeping a close eye on how states are extending or making permanent the Medicaid funding boosts tied to the Covid-19 public health emergency (PHE). The Omega Healthcare Investors […]
A judge approved Gulf Coast Health Care’s modified Chapter 11 liquidation plan this week. This was the second amended joint plan the company submitted after the first one was rejected. The original plan was reportedly rejected for not meeting its burden to sign away creditors’ claims against third parties. The new plan provides at least […]
Gulf Coast Health Care is one step closer to getting its liquidation plan signed off by a judge after the bankrupt nursing home chain indicated it had agreed to increase recoveries for unsecured creditors. Gulf Coast’s original plan was rejected by a judge “for not meeting its burden to sign away creditors’ claims against third […]
While Covid cases have fallen “exponentially” for real estate investment trust Omega Healthcare Investors (NYSE: OHI) with noted occupancy recovery seen in Q1 2022, its skilled nursing tenants continue to face operating challenges as staffing shortages and increased expense pressures have led to continued rent deferrals and nonpayments. With 14.5% of Omega’s contractual rents and interests […]
Omega Healthcare Investors Inc. sold the majority of its struggling Gulf Coast Health Care facilities for more than $300 million, the company shared Monday. The real estate investment trust (REIT) sold 22 previously leased and operated Gulf Coast facilities for $318 million in cash, according to a news release. The net cash proceeds, including related […]
Six months after Gulf Coast Health Care filed for bankruptcy, the skilled nursing operator with 28 facilities in Florida, Georgia and Mississippi announced the company has since dissolved. “Gulf Coast Health Care was a leading provider in the long term industry serving in the Southeastern United States. Having operated numerous skilled nursing and assisted living […]
Conditions stemming largely from the omicron variant of Covid-19 have halted the recovery process for one of the nation’s largest owners of skilled nursing facilities, Omega Healthcare Investors (NYSE: OHI). Luckily, omicron has not exacted too steep a toll on residents’ health, but it has created severe staffing challenges and suppressed occupancy; resulting liquidity issues […]
Iowa nursing home chain QHC Facilities filed for Chapter 11 bankruptcy at the end of 2021 and is seeking a buyer for its facilities, following some of the largest federal fines assessed on any skilled nursing group in the state. Clive, Iowa-based QHC cited “crippling staffing and employee retention issues” since the onset of the […]
Operators continue to face liquidity and workforce shortage issues at this point in the pandemic, Omega Healthcare Investors (NYSE: OHI) told shareholders during its third quarter earnings call on Friday, but anticipated Provider Relief Funds (PRF) and state initiatives will offset costs when they arrive. Florida’s nearly $100 million funding initiative for nursing homes, along […]
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