Ensign On Track to Overtake Genesis As Largest Nursing Home Operator

The Ensign Group (Nasdaq: ENSG) is poised to overtake Genesis HealthCare as the largest nursing home operator in the country as it continues to build upon its rapidly growing portfolio, according to ownership data released last week by the Centers for Medicare & Medicaid Services (CMS). Ensign could be the largest skilled nursing provider in […]

ProMedica Promotes COO, Reportedly Ousts CFO in Leadership Reshuffle

Just a few weeks after announcing $126 million in financial losses for the first financial quarter of 2022, ProMedica has made major changes to its leadership lineup. Arturo Polizzi, for one, has been promoted to serve as president for the company, a title previously held by CEO Randy Oostra. Polizzi will take on the new […]

REITs Owned 12% of US Skilled Nursing Assets in 2021, Ownership Trends Changing

Real estate investment trusts (REITs) owned about 12% of all skilled nursing assets as of 2021, equating to about 1,870 facilities. That’s according to a research letter published in JAMA Health. Researchers also examined REIT ownership trends of hospitals and other health care properties. The data comes at a time when the Biden administration and […]

Closures, Consolidation, Sales: Skilled Nursing Ownership Goes Through Shakeup

For-profit nursing home owners such as private equity firms and real estate investment trusts are under fire from the federal government — but current trends suggest that not-for-profit ownership alone is not a viable alternative to meet the needs of the United States’ aging population. Freestanding senior housing and care not-for-profits (NFPs) are closing altogether, […]

Dialyze Direct Acquires Renew Dialysis, Adding Virginia to Its SNF Footprint

Dialyze Direct, already the nation’s leading provider of hemodialysis services in skilled nursing facilities, shows no signs of slowing as it’s poised to enter states in 2022. The national provider now in 13 states and 130 SNFs across the country, announced this week that it acquired Renew Dialysis, a regional provider of on-site dialysis with […]

ProMedica Names Angela Brandt Senior Care Division President

Angela Brandt is taking the helm as president of ProMedica Senior Care, the Toledo, Ohio-based not-for-profit organization announced Monday. She is tasked as president with making strategic senior care investments, working with other ProMedica divisions, seeking out new partnerships and ventures, “driving senior care excellence,” and advancing the organization’s holistic care model. Brandt, who has […]

ProMedica Senior Care’s Parker Sees Growth Ahead — Even as ‘Major Disruption’ Looms for Industry in Early ’21

When Welltower Inc. (NYSE: WELL) and health system ProMedica teamed up to take over nursing home giant HCR ManorCare in 2018, the players positioned the move as a way to vertically integrate a continuum that could follow a patient from the hospital, to a skilled nursing facility, to home health. The real estate investment trust […]

Welltower Takes $97 Million Write-Down on Genesis in Wake of ‘Going Concern’ Notice

Welltower Inc. (NYSE: WELL) took a $97 million write-down associated with properties operated by Genesis HealthCare (NYSE: GEN) amid concerns about the nursing home giant’s future, the real estate investment trust (REIT) announced Thursday. The move came as Welltower switched Genesis to cash-based reporting for its lease income, retroactive to July 1, though chief financial […]

$156M in CARES Act Funding Helps ManorCare, ProMedica Offset $136M Revenue Drop Amid COVID

The senior care division of non-profit hospital system ProMedica took a serious revenue hit amid the COVID-19 pandemic — like many other post-acute and long-term care providers — but significant federal relief helped the HCR ManorCare owner offset the strain. The Toledo, Ohio-based ProMedica’s senior care business line, which includes its HCR ManorCare skilled nursing […]

Why Even a COVID-19 Vaccine May Not Be a Silver Bullet for Nursing Home Residents, Staff

The prospect of a COVID-19 vaccine sits at the center for the public’s hope of any return to pre-pandemic normalcy: With no effective treatments and outbreaks rising alongside relaxed lockdown rules, it’s difficult to imagine any real change without a proven vaccine. But in a twist of dark irony, the population most susceptible to COVID-19 […]

After ‘Most Challenging Period in the Company’s History,’ Welltower Sees Stability Ahead for Needs-Based Care

Welltower Inc. (NYSE: WELL) CEO Tom DeRosa didn’t mince words on Thursday when describing the impact of COVID-19 on the real estate investment trust’s (REIT) senior care tenants. “When we last spoke with you in early May, Welltower was in the midst of the most challenging period in the company’s history,” DeRosa said on REIT’s […]

Fitch Downgrades ProMedica, But Cites ManorCare Nursing Home Business as Bright Spot

Major hospital system ProMedica received another downgrade to its credit rating, but its HCR ManorCare nursing home arm remains a bright spot amid stresses elsewhere, according to Fitch Ratings. The ratings agency late Thursday announced a downgrade of the non-profit’s issuer default rating from BBB to BBB-, while also raising its outlook from negative to […]

ProMedica Reports ManorCare Income Gains, $158M in CARES Act Support

ProMedica saw improvement in its HCR ManorCare nursing home business line during the first quarter of 2020, though the ongoing impact of the COVID-19 pandemic remains a long-term unknown for the health system. The Toledo, Ohio-based ProMedica pulled in $17.1 million in income associated with its ManorCare business to start 2020, according to its most […]

Welltower: ProMedica, ManorCare in ‘Fine Shape’ Despite COVID-19 Strains on Nursing Homes

Welltower Inc. (NYSE: WELL) on Thursday provided little detail on the state of its joint venture with hospital system ProMedica, but executives insisted that the fundamentals of the business line — which includes the nursing home giant HCR ManorCare — remain strong despite COVID-19. “I will tell you that ProMedica is in fine shape,” Welltower […]

Nursing Home Giant ManorCare Only ‘Able to Get About 10% of What We Need’ to Test for COVID-19

The nursing home chain HCR ManorCare has — like many other skilled nursing operators — been badly affected by the COVID-19 pandemic still moving through the U.S. And like many other operators, it’s struggling to find the needed personal protective equipment (PPE) and testing kits, despite mandates from multiple states requiring testing and full stockpiles […]