Kindred SNF Sell-Off Continues with $108M, 12-Property Deal

Kindred Healthcare, Inc.’s (NYSE: KND) exit from the skilled nursing industry continued Monday morning as the company announced the formal sale of 14 more SNFs. The Louisville, Ky.-based operator offloaded 12 of those properties, along with four assisted living facilities, as part of an ongoing transaction with buyer BM Eagle Holdings. The 16 properties had […]

Skilled Nursing Must-Reads: Occupancy Drops, SNF’s Fraud Drama

The industry continues to sort out what went wrong in Florida, but there were other headlines from the week in skilled nursing, including some grim numbers from the National Investment Center for Seniors Housing & Care (NIC) and an interesting ownership shuffle for some former Kindred facilities. First, the bad news: Nursing home occupancy dipped […]

Ohio-Based CommuniCare to Operate 16 Former Kindred SNFs

Large regional care provider CommuniCare has announced it will take over 16 of Kindred Healthcare’s (NYSE: KND) former skilled nursing facilities in Indiana. The SNFs will provide rehab and holistic healing services, according to a press release. Current staffers are expected to remain in place during the transition. With the latest acquisition, the Cincinnati, Ohio-based provider now operates […]

Kindred Completes First Round of Skilled Nursing Sell-Off

Kindred Healthcare, Inc. (NYSE: KND) on Thursday took the first step toward its planned exit from the skilled nursing space, announcing the sale of 54 SNFs in 10 states. The $519 million transaction involves the majority of the 89 total SNFs and seven assisted living facilities that Kindred will sell to BM Eagle Holdings — a joint […]

Kindred Talks Life After Skilled Nursing on Earnings Call

Kindred Healthcare, Inc. (NYSE: KND) tackled life after skilled nursing on its second-quarter earnings call, the first after it finalized a $700 million deal to sell off its SNF assets in late June. “This transaction is an important step in the ongoing strategic transformation of Kindred,” president and CEO Benjamin Breier said, identifying the company’s […]

Nursing Care M&A Volume Trends Downward in Q2

The total dollar value of nursing care properties that changed hands in the second quarter of 2017 fell slightly from previous quarters, according to preliminary data from the National Investment Center for Seniors Housing & Care (NIC). In total, $1.4 billion worth of senior care mergers and acquisitions occurred in the second quarter — with senior […]

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 […]

Prices for Long-Term Care Facilities Spike Nearly 300%

The dollar value of long-term care (LTC) facility transactions ballooned by nearly 300% in the second quarter of 2017, even as the absolute number declined. LTC facilities commanded a total of $9.7 billion in the second quarter of 2017, a 299% increase from the $2.4 billion that changed hands in the second quarter of 2016 […]

Highest Paid Chief Executives in Skilled Nursing

Though many of the chief executives behind some of the biggest public skilled nursing companies in the U.S. made millions of dollars last year, some earned more than others. Company leaders at Quality Care Properties (NYSE: QCP), Kindred Healthcare (NYSE: KND), and Omega Healthcare Investors (NYSE: OHI) made the most in total compensation in 2016 — […]

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 […]

[UPDATED] Kindred’s SNF Sale: Long-Term Benefits, Short-Term Drag

When Kindred Healthcare (NYSE: KND) finalized a blockbuster deal to sell its SNF portfolio for $700 million in cash at the start of the holiday weekend, the post-acute giant may have been making a long-term bet with significant upfront costs. Much of the $210 million that Kindred expects to net from the deal will come from […]

Kindred Strikes Deal to Sell SNF Business for $700 Million

About six months after announcing its intention to cease being an owner and operator of skilled nursing facilities, Kindred Healthcare (NYSE: KND) has struck a deal to sell its SNF business for $700 million in cash. The total value of the transaction to Kindred is expected to be $910 million, the Louisville-based company announced late […]

The Rise of the Mid-Sized Skilled Nursing Buyer

In an almost paradoxical landscape, where the outlook for skilled nursing operators remains bleak while prices for individual SNFs have never been higher, one particular type of buyer stands to benefit the most — and it’s not the big boys or the mom-and-pops. Mid-sized SNF operators and owners — those with perhaps 15 to 30 properties — are in […]

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 […]

Amid Skilled Nursing Exit, Kindred Launches New Division

Kindred Healthcare (NYSE: KND) may not be a skilled nursing operator for much longer, but the company plans to remain a major force in post-acute care—and it has just launched a new business division to help achieve that goal. Louisville-based Kindred has tapped Brian Holzer, M.D., to serve as president of the new division, Kindred […]