Omega CEO Pickett: Medicaid-Focused Model Can Work in Skilled Nursing

With capital chasing upside and new development dominated by high-end “medical resorts,” the availability of long-term care beds has emerged as a big-picture issue for the skilled nursing industry. While it may not be a nationwide problem just yet, certain markets — from Wisconsin to California — have begun to show the early signs of […]

Meridian’s $241M Portfolio Deal in the Northeast; Optalis Healthcare Adds Five SNFs in Michigan

Meridian Capital Group this week announced its involvement in a 19-building skilled nursing portfolio deal that saw the New York City-based finance and investment firm provide $241 million in acquisition financing. The portfolio has a total of 2,175 beds, with locations in Massachusetts, New Hampshire, Pennsylvania, Delaware, Maryland, and West Virginia. Meridian’s managing directors, Ari […]

Diversicare Completes Kentucky Exit with 10-Building Transfer

Diversicare Healthcare Services (OTCQX: DVCR) this week announced the successful completion of a 10-building transfer that saw the skilled nursing operator exit the Kentucky market entirely. The handoff was completed on August 30, according to a release from the Brentwood, Tenn.-based provider. Diversicare had previously announced its intention to leave the Bluegrass State back in […]

Omega Offers Details on $735M Skilled Nursing Pickup, Ongoing Daybreak Woes

Omega Healthcare Investors (NYSE: OHI) made a major splash this week with the announcement of a planned $735 million skilled nursing acquisition, though executives also reported that a troubled tenant in Texas hasn’t generated any revenue for the real estate investment trust (REIT) yet this quarter. Daybreak Venture met its rent obligations under a deferral […]

Omega to Buy 58 Skilled Nursing Facilities in $735 Million Deal

Omega Healthcare Investors (NYSE: OHI) on Tuesday announced plans to pick up 58 skilled nursing facilities in a 60-building deal valued at $735 million. The Hunt Valley, Md.-based real estate investment trust (REIT) agreed to the deal on July 26, Omega reported this week, though it remains subject to approval by the Department of Housing […]

PDPM Countdown: ‘We Are All Crossing Our Fingers and Knocking on Wood’

With the Medicare Part A reimbursement overhaul taking effect in just a few months, skilled nursing providers across the country are in countdown mode. But the clock is moving at different paces for different providers, several experts said. Some SNFs began their analysis and preparations months ago; others are barely getting started. That’s led to […]

Diversicare to Exit Kentucky, Hand Over Control of 10 Skilled Nursing Facilities

Diversicare Healthcare Services (Nasdaq: DVCR) on Wednesday announced a plan to exit the Kentucky market, ceding control of the 10 skilled nursing facilities it operates in the state. The Brentwood, Tenn.-based Diversicare reached an agreement with landlord Omega Healthcare Investors (NYSE: OHI) to terminate operations at the 10-building portfolio, which consists of around 885 skilled […]

MedEquities Shareholders Approve $600M Omega Merger

Shareholders of MedEquities Realty Trust (NYSE: MRT) on Wednesday overwhelmingly approved a plan to merge with fellow real estate investment trust (REIT) Omega Healthcare Investors (NYSE: OHI). Around 99.9% of the votes cast — representing 79.5% of all outstanding shares as of March 4 — were in favor of the $600 million deal, first announced […]

Omega: Increase in Medicaid Days Shows Demographic Wave’s Early Effects

Executives at Omega Healthcare Investors (NYSE: OHI) on Wednesday expressed optimism about the skilled nursing industry in the long term — and even believe that there’s some near-term upside amid payment increases from the federal government and new models of reimbursement on the horizon. In addition, leaders at the real estate investment trust (REIT) even […]

Daybreak Rent Deferrals Hit Omega’s Bottom Line in Fourth Quarter

Omega Healthcare Investors, Inc. (NYSE:OHI) once again ran into problems with skilled nursing tenant Daybreak Venture in the fourth quarter of 2018, with the Denton, Texas-based operator underpaying about $4 million in rent. The Hunt Valley, Md.-based real estate investment trust (REIT) reported fourth-quarter net income of $64.9 million, or $0.31 per common share, compared […]

Orianna Close to Wrapping Bankruptcy as Former Owner Returns to Fold

Orianna Health Systems, a skilled nursing operator that entered a protracted and litigious bankruptcy last year, will effectively cease to exist after its plan of liquidation was confirmed last week. In a separate process, the company also transferred the ownership and the operations of 15 remaining facilities owned by the bankrupt operator, legally known as […]

Skilled Nursing Rents 10% Too High, Analysts Say

Skilled nursing rents must decline by about 10% across the board in order to ensure the facilities’ long-term stability, a Wednesday report from Green Street Advisors has concluded. Real estate investment trusts (REITs) must achieve rent coverage of around 1.9 times to achieve stability for their tenants, the real estate research firm’s analysts Lukas Hartwich […]

Omega to Acquire MedEquities in $600M REIT Deal

Omega Healthcare Investors (NYSE: OHI) kicked off 2019 by announcing the $600 million acquisition of MedEquities Realty Trust (NYSE: MRT), marking the ownership shift of 34 skilled nursing and other health care properties. The boards of both real estate investment trusts (REITs) approved the deal unanimously, Omega announced early Wednesday morning, with a final transaction […]

Omega Expects to Be a Buyer in ’19 After Year of Sell-Offs

After months of repositioning, Omega Healthcare Investors (NYSE: OHI) beat analyst expectations in its third-quarter earnings, and the company expects to continue the momentum next year. “We expect that in 2019, acquisitions will meaningfully outpace dispositions as we return to our historical growth mode,” CEO Taylor Pickett said on Omega’s third-quarter earnings conference call on Monday. Omega […]

Omega CEO: Skilled Nursing Headwinds Will Die Down in Three Years

Fresh off a major restructuring effort with key tenant Signature HealthCARE, the CEO of Omega Healthcare Investors (NYSE: OHI) had a decidedly sunny outlook for the skilled nursing industry’s short-term future — as well as Signature’s. “We’ll look three years out,” Taylor Pickett said of his company’s restructuring strategy during a panel discussion at the […]

Diversicare, Omega Agree to New Master Lease on 34 Skilled Nursing Facilities

Diversicare Healthcare Services (Nasdaq: DVCR) on Monday announced a new lease deal with landlord Omega Healthcare Investors (NYSE: OHI), which will see 34 skilled nursing facilities consolidated under a single agreement. The Brentwood, Tenn.-based skilled nursing provider previously had 23 facilities — scattered across Texas, Kentucky, Alabama, Florida, Ohio, and Tennessee — under one lease […]