A federal judge ordered the U.S. Department of Justice to pay HCR ManorCare’s legal fees in a Medicare fraud case, citing missteps by the government. U.S. Magistrate Judge Theresa Carroll Buchanan of the Eastern District of Virginia also struck a key expert witness in the case, which sees the provider accused of submitting millions of dollars worth of […]
Quality Care Properties, Inc. (NYSE: QCP) on Thursday granted yet another reprieve to its troubled tenant, HCR ManorCare. The Toledo, Ohio-based skilled nursing provider now has until December 1 to respond to a receivership claim that QCP originally filed in August. It’s the third such delay that the real estate investment trust (REIT) has granted […]
Between the American Health Care Association’s annual conference and expo in Las Vegas and another update in the ongoing drama between a major provider and its landlord, it’s been a busy week in the world of skilled nursing. Check out our weekly roundup of must-reads to get you caught up: QCP Extends ManorCare Deadline Quality […]
HCR ManorCare President and CEO Paul Ormond has left his position as the skilled nursing provider continues to work through a potential restructuring with its landlord, real estate investment trust Quality Care Properties, Inc. (NYSE: QCP). The Bethesda, Md.-based REIT first announced Ormond’s departure from HCR ManorCare on Monday; he has already been replaced by […]
Confederate forces may have surrendered to the Union more than 150 years ago, but there’s still one living American who’s receiving veterans’ benefits stemming from Civil War service. That would be Irene Triplett, a North Carolina skilled nursing resident who gets a monthly check from the Department of Veterans Affairs for her father’s service in […]
Conflicts between major real estate investment trusts (REITs) and their skilled nursing tenants have dominated industry headlines in recent weeks. Quality Care Properties (NYSE: QCP) continues to seek relief amid its primary tenant HCR ManorCare’s failure to pay rent, while shareholders of Sabra Healthcare REIT, Inc. (NASDAQ: SBRA) attempted to derail its acquisition of the SNF-heavy […]
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, […]
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 […]
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, […]
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 […]
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 […]
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 […]
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 […]
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 […]
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, […]
Quality Care Properties, Inc. (NYSE: QCP) on Monday issued an ultimatum to HCR ManorCare, Inc., its primary skilled nursing tenant: Pay the nearly $80 million in back rent that you owe, or you’ll be on the hook for a whole lot more. The Bethesda, Md.-based real estate investment trust (REIT) issued a notice of default […]
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 […]
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 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 […]
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 […]
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