‘We’re Onto Something’: Nursing Homes Focus on Speciality Programs to Meet Evolving Resident Needs

Rising acuity at nursing homes has meant a greater need for the presence of various clinical specialties at facilities. But navigating better interdisciplinary team care is a complicated matter, made more so with staffing shortages, tighter regulation and lower reimbursements. As the needs of the nursing home population continue to evolve, many providers believe it’s […]

Marquis’ Chronic Illness Initiative Creates ‘Mini Hospital Environment’ to Address LTC Gaps

Marquis Health Services in early 2022 plans to launch a chronic illness initiative focused on nephrology, pulmonology, cardiology, pastoral, palliative and infectious disease services, in an effort to address what the operator considers gaps in post-acute and long-term care. Brick, N.J.-based Marquis is currently evaluating and qualifying facilities to participate in the initiative, according to […]

CEOs See Long-Term Care Occupancy, Staffing As Top Post-Pandemic Challenges

While occupancy numbers are enjoying a modest upward trend, skilled nursing operators face an uphill battle to strengthen long-term care metrics into the next year. And, staffing issues also loom large and are commanding attention from SNF operators. These were among the big topics under discussion at Tuesday’s Synergy Summit, where leaders with providers Marquis […]

Bank Leumi, Prestige Care Team for $23.5M Rehab Deal; Hill Valley’s $21.7M, Three-Building Growth Move

Bank Leumi USA this week announced the completion of a $23.5 million deal covering four skilled nursing facilities and one assisted living property operated by Prestige Care. The family operator used the cash to refinance an existing asset-based loan revolver and a real estate term loan, with the goal of boosting liquidity and funding future […]

Tryko Expands Again with PA Pickup; Monticello Provides $41M for Two-SNF Refinance

Tryko Partners, a private equity firm based in Brick, N.J., purchased the Harlee Manor and Springfield Commons campus in Springfield, Pa., adding 173 skilled nursing beds and personal care units to the firm’s Philadelphia regional portfolio, according to a statement announcing deal. The campus and its facilities were renamed Springfield Enhanced Senior Living and are […]

Greystone Closes $43.9M Portfolio Deal; Tryko Picks Up 200-Bed SNF from Receivership for $14.5M

Greystone this week announced the closure of $43.9 million in Department of Housing and Urban Development (HUD)-backed financing for three affiliated skilled nursing facilities operated by Centers for Care. The three properties in upstate New York — the Ontario Center for Nursing and Rehabilitation in Canandaigua, the Steuben Center for Nursing and Rehabilitation in Bath, […]

Sale of Six Absolut Facilities Approved in Bankruptcy Court; $23M SNF Opens in Detroit

The U.S. Bankruptcy Court for the Eastern District of New York approved RCA Healthcare Management to take over six Absolut Care nursing home sites, starting with a consulting agreement beginning March 1 with the current owners of Absolut. Buffalo Business First reported the news last week. Absolut filed for Chapter 11 bankruptcy protection last fall, […]

Monticello Lands $32M Refinance on Single SNF; Greystone’s $62M Skilled Nursing Portfolio Deal

MONTICELLOAM, LLC and its affiliates this week announced the completion of a $32 million refinance for a 177-bed skilled nursing facility in Maryland. The New York City-based private real estate lender and asset manager, collectively known as Monticello, also provided a $2 million working capital loan through its asset-based lending arm, Monticello Commercial Capital, LLC. […]

Blueprint Pulls Off Seven-SNF Sale in Alabama; Tryko Grows Portfolio in Philadelphia

Blueprint Healthcare Real Estate Advisors late last week announced the successful sale of a seven-building skilled nursing portfolio across Alabama. The Chicago-based brokerage didn’t name the buyer or seller, though Blueprint did indicate that the portfolio went to a long-term care provider with an existing footprint in the state. The new operators plan to capitalize […]

Bundled Payments for Joint Replacements Saved Medicare Money — with No Quality Declines

A major bundled payment program for hip and knee replacement episodes has produced savings for the government without corresponding declines in quality, according to a new study — confirming the central motive behind a program that has drawn the ire of post-acute operators. The Bundled Payments for Care Improvement model (BPCI) seeks to both decrease […]

Embracing End-of-Life Plans Can Lead to Better Skilled Nursing Care — While Reducing Unnecessary Costs

For nursing home owners and operators, having frank conversations about residents’ end-of-life intentions, and organizing the associated paperwork proactively, is a potential way to avoid unwanted hospitalizations and the sizable costs that come with it — especially if it’s not in line with the patient’s wishes. Nursing homes are faced with tough decisions when the […]

Marquis Health Joins Compass in Latest Skilled Nursing Dialysis Partnership

Dialysis services have emerged as a potential growth area under multiple new Medicare payment models, and a skilled nursing provider in the Northeast has joined a growing list of companies partnering with vendors providing renal care. Marquis Health Services earlier this month teamed up with Compass Home Dialysis to provide staff-assisted bedside hemodialysis services at […]

Investing in Skilled Nursing Tech Isn’t Worth Much Without Employee, Leadership Acceptance

Data continues to be the watchword in a skilled nursing marketplace where hospitals and other referral partners demand increasingly concrete information about post-acute outcomes. In response, numerous tech companies have stepped into the fray to provide potential solutions — from data analytics tools that can identify serious health issues before they escalate to a hospitalization, […]

Dwight Capital’s $13M Bridge Loan in Ohio; Marquis & Tryko Expand in Maryland

Tryko Partners on Friday announced the acquisition of Collingswood Rehabilitation & Healthcare Center in the Washington, D.C. suburb of Rockville, Md. The Brick, N.J.-based private equity firm installed its health care affiliate, Marquis Health Services, as the new operator, with plans for $4.5 million in capital improvements and new programming at the site. The 160-bed […]

PwC: Private Equity Will Pick Up Non-Core Assets, Drive Innovation in 2019

National health care operators would be wise to consider selling non-core assets to expansion-minded private equity firms in 2019, according to a recent report from Big Four audit and accounting company PwC — while also looking to the investors as partners for growth and innovation. “For years, private equity firms have invested in health care, […]

Private Equity Must Be Nimble, Innovative to Succeed in Skilled Nursing

Tempted by demographic trends and a new reimbursement system, private equity has taken a keen interest in the skilled nursing industry over the past year. But executives at these investment vehicles would be foolish to think they can plug their existing models into nursing home business and expect the same kind of success they may […]

Tryko Partners Acquires Two Baltimore SNFs, Plans Multimillion Upgrades

Tryko Partners acquired two skilled nursing facilities totaling 254 beds and plans to launch renovations and programming expansions at both properties. Marquis Health Services, Tryko’s health care affiliate, has assumed operations of the facilities. Tryko is a private equity group based in Brick, N.J., while Marquis has 10 SNFs in the Mid-Atlantic region, with additional […]

Ensign Grows in Arizona; Operator Gets Break for Skilled Nursing Expansion

Ensign Group Acquires Arizona SNF The Ensign Group (Nasdaq: ENSG) acquired the operations of Sun West Choice Healthcare and Rehabilitation, a 140-bed skilled nursing facility in Sun City West, Ariz. The Mission Viejo, Calif.-based provider has a long-term lease on the facility, which was effective June 1, and the deal brings the number of skilled nursing […]

SNF Operator Inks Rehab Partnership to Drive ACO Success

Some skilled nursing providers have been wary of accountable care organizations (ACOs), payment and care delivery models that some fear will push more and more potential residents into home health care to save money. But one East Coast operator has found success under the ACO model, and entered into a partnership with a third-party rehabilitation […]

Transactions: Grand Healthcare Buys Ninth N.Y. SNF

Grand Healthcare System Buys SNF in Valatie, New York The Grand Healthcare System, based in Whitestone, New York, purchased the 236-bed Barnwell Nursing and Rehabilitation Center, the Times Union reported. Grand purchased the Valatie, New York facility from Cassena Care, bringing Grand’s SNF total in New York to nine. Documents from New York’s Health Department indicated that entities linked to […]