On the heels of opening the industry’s first-ever technology innovation hub in Louisville, Kentucky, some of the health care leaders involved with the project are banding together with CEOs from other Louisville-based health care companies—including Signature HealthCARE, Humana and Hosporus. The group’s mission: to transform the city’s health care economy by establishing the Louisville Healthcare CEO Council, […]
Welcome to Skilled Nursing News’s weekly roundup of the top headlines you need to see to kick-start your morning — from a SNF with a curiously low asking price to more negative trends in occupancy to the long-term effects of a lawsuit over snacks in Pennsylvania. SNN readers flocked to the story of a former […]
Post-acute giant Kindred Healthcare (NYSE: KND) is not afraid of making changes—including currently exiting the skilled nursing industry after years of being a major provider. But for staff recruitment, the Louisville-based company is a big believer in tried-and-true methods. Like other providers across the health care spectrum, Kindred has been utilizing social media and other digital […]
It’s been a busy few weeks in the world of skilled nursing, from a flurry of mergers-and-acquisitions news to a major industry executive’s bold prediction about the future of custodial care. In case you missed them the first time around, here’s a quick recap of the biggest stories you need to read to catch up. […]
CareTrust REIT, Inc. (Nasdaq: CTRE) continues to snap up skilled nursing facilities previously operated by Kindred Healthcare, Inc. (NYSE: KND), announcing on Tuesday the acquisition of 13 properties in Washington, Texas and Idaho. The deal includes all seven former Kindred SNFs in Idaho, which are now operated by the Eagle, Idaho-based provider Cascadia Healthcare, LLC, as […]
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 […]
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 […]
Before you start sifting through your inbox, here’s what you need to know from the world of skilled nursing news from the past week: Kindred Healthcare, Inc. (NYSE: KND) began its exit from the skilled nursing industry, announcing the $519 million sale of 54 SNFs in 10 states — out of a total of 89 […]
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 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 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 […]
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 […]
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 […]
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 […]
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 — […]
New York State SNF to Close Due to Declining Occupancy Michaud Residential Health Services in Fulton, N.Y. is making plans to transfer its 64 residents and close by October 1. The 89-bed facility, which has been in operation since the 1970s, was previously owned by Oswego County, but was sold to not-for-profit St. Luke Health Services […]
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 […]
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 […]
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 […]
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 […]
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