[UPDATED] As Receivership Looms, ManorCare DOJ Case Moves Forward

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 Must-Reads: SNFs in a Decade, Post-Acute Confusion

The last five days were dominated by a pair of major real estate investment trust (REIT) dramas — Sabra Healthcare REIT, Inc.’s (NASDAQ: SBRA) successful shareholder vote to acquire Care Capital Properties (NYSE: CCP), and Quality Care Properties’ (NYSE: QCP) decision to seek receivership for the struggling HCR ManorCare’s facilities. But much more happened in […]

QCP Seeks Receivership for HCR ManorCare Properties

Quality Care Properties (NYSE: QCP) has begun legal proceedings to have an independent receiver take over the operations of its skilled nursing and assisted living/memory care communities that currently are being operated by HCR ManorCare. Toledo, Ohio-based ManorCare operates more than 500 skilled nursing facilities (SNFs), assisted living communities, outpatient rehab clinics, memory care communities, […]

Must-Read Stories: Trumpcare’s Death, ManorCare’s Potential Breakup

First things first: We here at Skilled Nursing News won’t say that Trumpcare has officially died — it’s been revived multiple times so far— but after months of hand-wringing and dire projections about Obamacare repeal’s effect on the skilled nursing industry, it finally looks as though the former president’s cornerstone legislative victory is here to […]

ManorCare Could Be Heading for a Breakup Amid Troubles

As HCR ManorCare, Inc.’s battle with landlord Quality Care Properties (NYSE: QCP) drags on, the most likely outcomes for the skilled nursing operator are bankruptcy or receivership, according to a bankruptcy lawyer with experience in health care industry restructuring. QCP, a Bethesda, Md.-based real estate investment trust (REIT), was reportedly close to a full equity […]

Must-Reads: Fortis in Receivership, SNFs’ Cloudy CCRC Future

Each week, we round up the most-read stories on Skilled Nursing News in one place — perfect for catching up on the top headlines you may have missed amid the health care reform collapse and other news out of Washington. Fortis Management Group, an operator of 60 skilled nursing facilities in the Midwest and Pacific […]

ManorCare Receives $550M Loan, Stays Mum on QCP Fight

Troubled skilled nursing operator HCR ManorCare, Inc. has reportedly received a half-billion-dollar loan, but the Toledo, Ohio-based firm remains quiet on whether it will use the money to end its protracted battle with landlord Quality Care Properties (NYSE: QCP). ManorCare secured a $550 million line of credit from the New York City-based private equity firm […]

Carlyle Appears Poised to Sell Off German Nursing Home Chain

The Carlyle Group has begun the process of selling off Alloheim, a German chain of nursing homes that the private equity firm initially acquired in 2013, according to a recent report. Unnamed sources told Reuters that the Washington, D.C.-based Carlyle could seek up to $1.1 billion for the 155-facility nursing home chain, which employs 14,500 […]

Friday Round-Up: QCP’s ManorCare Ultimatum, Top-Paid SNF Execs

In case you missed it, here’s a look at the past week in skilled nursing news, from a potential final showdown between a major provider and its landlord to a peek into the highest-paid executives in the business. Today’s the day for HCR ManorCare, Inc. to pay the back rent it owes Quality Care Properties, […]

Short Week Round-Up: Kindred Exits SNFs, ManorCare Misses Rent

It’s the end of a holiday-shortened week, but the days off didn’t stop a wave of SNF news. In case you’ve been enjoying some extra time away from the office, here’s what you missed. We continued to untangle the strands in Kindred’s deal to exit the SNF business, a blockbuster transaction that’s worth $700 million, $910 […]

ManorCare Misses Latest Rent Payment to QCP

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 […]

Genesis Finalizes $53.6 Million Settlement Deal with DOJ

Genesis HealthCare (NYSE: GEN) on Friday announced the execution of a $53.6 million settlement with the United States Department of Justice over a variety of improper billing allegations. The Kennett Square, Pa.-based post-acute provider denied all of the government’s claims, which included four separate sets of allegations involving various Genesis subsidiaries. In its complaint, the DOJ […]

Friday Round-Up: Key QCP/ManorCare Buyout Deadline Comes and Goes

It’s Friday afternoon, which means it’s time for a quick look back at the biggest skilled nursing headlines of the past week, and a peek into what could be on the horizon in the coming days. Skilled Nursing News brought you extensive coverage from the Post Acute Link Care Continuum Conference in our hometown of […]

Carlyle Group Reportedly Set on ManorCare Sale to QCP

The private equity firm that has owned skilled nursing provider HCR ManorCare for the past decade is currently in the process of “ceding control” to its landlord, Quality Care Properties, Inc. (NYSE: QCP), either through bankruptcy or an out-of-court settlement, the New York Post reported Sunday. Citing unnamed sources, the Post reported that Toledo, Ohio-based […]

N.Y. Post: HCR ManorCare CEO Demands $100 Million Payout

HCR ManorCare CEO Paul Ormond has asked for the immediate payment of a $100 million deferred settlement package stemming from a private equity takeover of the company back in 2007, according to a report in the New York Post. The Carlyle Group, a Washington, D.C.-based private equity firm, bought the Toledo, Ohio-based HCR ManorCare a decade ago […]

HCR ManorCare Falls Behind on Rent as Troubles Mount

HCR ManorCare failed to completely pay its June rent to primary landlord Quality Care Properties (NYSE: QCP), citing pressure from its secured lenders and decreased profit projections. One of the largest skilled nursing providers in the country, the Toledo, Ohio-based HCR ManorCare paid just $15 million of the $32 million it owed QCP for June rent, […]