Skilled nursing chain HCR ManorCare’s struggles were the direct result of its former private equity ownership, a Sunday report in The Washington Post alleged. The paper analyzed inspection records as part of the wide-ranging story, finding that the number of health code violations found at ManorCare rose from 1,584 in 2013 to nearly 2,000 in 2017 […]
Shareholders of Quality Care Properties (NYSE: QCP) on Wednesday voted to approve the company’s acquisition by fellow real estate investment trust Welltower Inc. (NYSE: WELL), marking the latest milestone in a mega-deal that will shake up the skilled nursing industry. The Bethesda, Md.-based QCP’s investors will receive $20.75 per share as part of the deal. […]
Recently filed bankruptcy documents reveal that HCR ManorCare’s total missed rent to Quality Care Properties, Inc. (NYSE: QCP) topped $445 million — while its former CEO is set for a handsome payday. Paul Ormond, who left the embattled provider in September, could receive a settlement in excess of $100 million, according to a letter from ManorCare […]
A struggling skilled nursing property company that’s behind on loan repayments is causing some financial trouble for HCP Inc. (NYSE: HCP). The Irvine, California-based real estate investment trust (REIT) is expecting that the resulting material impairment will exceed $20 million. The skilled nursing entity in question—Tandem Health Care—currently owns 32 post-acute or skilled nursing facilities, […]
Earnings season has brought a flurry of news from publicly traded skilled nursing operators and landlords, so in case you missed them the first time around, here’s a quick glance at the biggest stories in the SNF world from the past week — including a major structural shakeup at a leading provider. After a judge […]
The United Kingdom has a new largest care home operator, and a former U.S. senior housing heavyweight will soon be at its helm. But the company’s chairman still sees dark clouds on the horizon for the industry as a whole. HC-One on Wednesday announced its intention to acquire 122 care homes from Bupa, a London-based […]
As Quality Care Properties (NYSE: QCP) seeks receivership for HCR ManorCare properties, a date has been set for the False Claims Act case against ManorCare for allegedly providing unnecessary therapy services to residents and billing to Medicare. The trial date has been set for January 22, 2018 and is likely to result in a settlement, […]
Skilled nursing operator HCR ManorCare, Inc. missed another rent payment, the latest milestone in a long-developing conflict with its landlord, Quality Care Properties, Inc. (NYSE: QCP). QCP, the real estate investment trust (REIT) that serves as ManorCare’s primary landlord, announced Wednesday that the provider had missed its July 3 rent deadline as attempts to restructure […]
Several publicly traded real estate investment trusts (REITs) have backed off skilled nursing in recent months and years, but one major player recently made an eye-popping investment in the asset class. The largest health care REITs — Ventas (NYSE: VTR), Welltower (NYSE: HCN), and HCP (NYSE: HCP) — all have either spun off the majority […]
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