As summer ends, it’s tempting to start looking ahead to what 2019 will hold for the skilled nursing industry. While the widely praised new payment model will likely grab the most attention, next year could also signal an upward climb out of an industry valley, or more troubled times ahead — depending on who you […]
The new skilled nursing payment model has received mostly praise from the industry since its finalization in late July, but it could have the side effect of leading more mom-and-pop SNFs to exit the space altogether. It’s important to note, however, that it’s not the only reason they’re leaving. “While PDPM is a big factor […]
When covering any industry that operates under heavy government scrutiny, hearing one CEO praise a new set of regulations is a surprise. Hearing near-unanimous support is frankly shocking. But that’s where the skilled nursing industry finds itself with the Patient-Driven Payment Model, the latest overhaul of the way SNFs receive reimbursements from Medicare. On its […]
The new skilled nursing payment system set to take effect in October of next year includes a 25% cap on group and concurrent therapy services, a limit the Centers for Medicare & Medicaid Services (CMS) argued is needed to ensure patients receive the therapy best suited to their needs and goals. That limit, enshrined in […]
Leaders at two major real estate investment trusts (REITs) focused on health care assets have predicted a coming wave of mergers-and-acquisitions volume as smaller providers refuse to adapt to new skilled nursing payment rules. As mom-and-pop operators begin to unpack the changes associated with the Patient-Driven Payment Model (PDPM) — the new set of therapy […]
Orianna Health Systems fired back at landlord Omega Healthcare Investors (NYSE: OHI), claiming that the real estate investment trust’s (REIT) decision to terminate a restructuring deal will prove detrimental to both parties. “Orianna is disappointed by Omega’s actions, which we believe will only cause delay in finalizing Orianna’s reorganization and impair the recovery ultimately realized […]
Omega Healthcare Investors, Inc. (NYSE: OHI) has pulled out of a proposed restructuring agreement with troubled tenant Orianna Health Systems, citing frustration with the process and a desire to protect its shareholders. The Hunt Valley, Md.-based real estate investment trust (REIT) said Monday that Omega will terminate its participation in the deal effective July 25. […]
Struggling skilled nursing facilities present a minefield of potential risks for new owners and operators, but there are ways to mitigate them, even when the current operator is facing serious financial distress. That’s according to Louis Robichaux, senior managing director at the consulting firm Ankura who focuses on health care restructuring, and George Mesires, leader of the senior […]
What a difference a year makes. In 2017, Skilled Nursing News profiled the salaries of the seven highest-paid CEOs at the biggest skilled nursing companies for the previous year. Of those executives, three didn’t make it to the 2018 roundup of the highest-paid CEOs — but that’s mainly a function of the upheaval that’s shaken […]
Real estate investment trust (REIT) Omega Healthcare Investors (NYSE: OHI) received approval from the U.S. Bankruptcy Court for the Northern District of Texas to transition 23 of 42 facilities operated by its skilled nursing tenant, 4 West Holdings, Inc., to new operators. 4 West Holdings, known with its affiliates as Orianna Health Systems, entered Chapter 11 Bankruptcy in March. […]
One day after Sabra Health Care REIT (Nasdaq: SBRA) announced a major restructuring deal with skilled nursing provider Signature HealthCARE, fellow real estate investment trust (REIT) Omega Healthcare Investors (NYSE: OHI) followed with an agreement of its own. The Louisville, Ky.-based Signature had fallen about $25 million behind on its rent payments to Omega by […]
The splashiest skilled nursing deal of the year portends better things to come for the industry as a whole, according to the leader of one prominent senior living real estate investment trust (REIT). National Healthcare Investors (NYSE: NHI) CEO Eric Mendelsohn touted the recent $1.95 billion acquisition agreement between Welltower Inc. (NYSE: WELL) and Quality Care Properties (NYSE: QCP) […]
After hinting at a possible solution earlier this year, Sabra Health Care REIT (Nasdaq: SBRA) has reached a deal to restructure its lease agreements with troubled tenant Signature HealthCARE. Signature on Monday entered into an 11-year lease with the Irvine, Calif.-based real estate investment trust (REIT), with options for three five-year extensions. Sabra will collect […]
Lawyers for Orianna Health Systems last week asked a federal court to include landlord Omega Healthcare Investors (NYSE: OHI) and various other parties in a blanket protection against lawsuits during its bankruptcy proceedings. When the 43-facility skilled nursing chain filed for Chapter 11 bankruptcy protection last month, Orianna by default received a stay against all […]
Genesis HealthCare, Inc. (NYSE: GEN) lost $89.2 million in the final quarter of 2017 and $579.0 million over the course of last year — numbers that the company continues to blame on the overall skilled nursing landscape. “As health care reform continues to transform the delivery of health care by changing reimbursements and holding providers […]
Real estate investment trust (REIT) Omega Healthcare Investors (NYSE: OHI) is working with struggling skilled nursing tenant Orianna Health Systems to execute a restructuring plan that involves Orianna entering Chapter 11 bankruptcy protection. Orianna and its affiliates operate 43 skilled nursing centers with approximately 4,500 beds in seven states. The plan involves transitioning some Orianna […]
Omega Healthcare Investors, Inc. (NYSE: OHI) reported progress on its operator issues and expressed optimism about the regulatory and legislative environment during its fourth-quarter earnings call on Wednesday. Executives reported “considerable progress” in resolving its issues with Louisville, Kentucky-based Signature HealthCARE, which missed payments in the third quarter, while negotiations with Orianna Health Systems are […]
Skilled nursing mergers and acquisitions (M&A) activity contributed to an overall strong third quarter, as as nursing care accounted for $3.5 billion of the total $5.0 billion in transactions volume for the quarter, according to a report by the National Investment Center for Seniors Housing and Care (NIC). Seniors housing accounted for the remainder ($1.5 […]
We’re knee-deep in earnings season here at Skilled Nursing News, and at least one major real estate investment trust (REIT) used the reporting period to signal a sea change in its strategy going forward. In case you didn’t catch them the first time around, here are the headlines you need to get up to speed […]
Omega Healthcare Investors, Inc. (NYSE: OHI) faced serious stress from multiple operators in the third quarter, leading executives to consider a more regional strategy going forward. The Hunt Valley, Md.-based real estate investment trust (REIT) on Monday reported a net loss of $137.5 million in the third quarter, posting revenue of $194.06 million—missing analysts’ expectations by […]
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