PACS Group (NYSE: PACS) on Wednesday held its first quarterly earnings call in about 15 months, with leadership bullish on the company’s new compliance framework and touting record revenue and adjusted earnings year to date. The executive team was eager to turn the page given that the company has been beleaguered since Hindenburg Research, a […]
PACS Group (NYSE: PACS) announced in a Securities and Exchange Commission (SEC) filing Monday that it overstated revenue related to Medicare Part B billings, and will restate its previously issued financial statements for the first and second quarters of 2024. The company now estimates it overstated revenue by approximately $15 million to $17 million in […]
PACS Group (NYSE: PACS) is amending its credit agreement with lenders to address delays in filing its required financial reports with the Securities and Exchange Commission (SEC), stating that there are “no guarantees” it will meet a November deadline to avoid a potential delisting from the New York Stock Exchange. These changes come as PACS […]
A growing number of skilled nursing providers are adopting a regional “pod cluster” model championed by nursing home giants such as Ensign Group (Nasdaq: ENSG), National HealthCare Corp., and PACS Group (NYSE: PACS), to gain operational efficiencies, foster collaboration, and drive better clinical and financial outcomes. And now, Genesis too is eyeing the pod cluster […]
Deals in the U.K. continued to be a large driver of investment activity in 2025 for Omega Healthcare Investors (NYSE: OHI), with a $344 million April investment of a 45-care home portfolio in the U.K. and Jersey, closing after the first financial quarter’s end. Care homes in the U.K. are essentially nursing homes, but can […]
PACS Group (NYSE: PACS) leaders are facing a shareholder lawsuit tied to an alleged scheme to submit false Medicare claims. Five PACS executives, including CEO Jason Murray and CFO Derick Apt, are named as defendants in the now-consolidated federal securities fraud class action lawsuit. According to the complaint filed on March 21, these PACS executives […]
The economic and operational climate continues to favor big players and industry consolidation this year. As a result, top providers to watch in 2025 are those chains planning to tap into scale for efficiencies, as well as those leveraging technology and value-based care to thrive. It’s worth noting that operational pressures, including a shortage of […]
CareTrust REIT (NYSE: CTRE) executives said Thursday that they have no plans to slow down dealmaking in 2025, noting that the fundamentals for skilled nursing remain strong. They anticipate no major disruptions from potential Medicaid or Medicare changes under the new administration, high interest rates, and exposure to PACS Group (NYSE: PACS) holdings. “Financial markets, […]
Average occupancy for the nursing home sector grew slightly to 80.5% towards year-end, posting a 10-basis-point increase month over month. Over the course of last year, occupancy levels showed a recovery back to pre-pandemic levels. Moreover, according to Stephens Inc.’s latest figures updated through Dec. 1 and released Wednesday, average occupancy for two large sector […]
Despite the sector continuing to grapple with staffing shortages, rising operational costs, and regulatory uncertainty, emerging trends have skilled nursing leaders gearing up for a positive 2025, with fewer challenges and more opportunities on the horizon. As we look ahead, several key trends are expected to shape the sector from regulatory shifts to financial turbulence, […]
It’s no surprise that the Biden administration’s minimum staffing mandate was the source of Skilled Nursing News’ most-read story of 2024. From the proposal stage to its final form, our stories on the staffing mandate covered all aspects of its requirements as well as the legal and legislative challenges against it. Our stories about the […]
The PACS Group closed on a 11-facility skilled nursing portfolio in Tennessee for an undisclosed amount, while CFG closed out five deals totaling $54 million in the last two months. PACS Group Closes on Tennessee Portfolio Sale The PACS Group (NYSE: PACS) on Dec. 1 closed on the operations of 11 skilled nursing facilities in […]
CareTrust REIT (NYSE: CTRE) has acquired a 46-facility skilled nursing and senior housing portfolio for $97 million, the San Clemente, California-based real estate investment trust announced Monday morning. The portfolio is located in the Midwest and is being acquired “in coordination with the bankruptcy and sale of all assets of the debtor/seller,” according to CareTrust’s […]
Ensign Group (Nasdaq: ENSG) executives offered an optimistic outlook for the sector and the company’s future, driven by operational improvements, disciplined acquisitions, and the potential easing of regulations and steady reimbursement rates under President-elect Donald Trump, with the minimum staffing mandate likely never seeing the light of day. “Our overall take on [the incoming administration] […]
Nursing home operator PACS Group (NYSE: PACS) delayed the release of its third-quarter earnings, providing only preliminary results on Wednesday as it carries out an internal audit and cooperates with a federal investigation into its referral and reimbursement practices. Originally scheduled for Nov. 7 after market close, PACS now expects to disclose its financial results […]
Leaders with CareTrust REIT (NYSE: CTRE) added more detail surrounding the company’s latest investments, including the acquisition of 31 skilled nursing facilities in Tennessee and Alabama for $500 million, along with another transaction yet to close for $57 million involving four skilled nursing facilities located in the Northeast. American Health Partners was announced as the […]
Staffing shortages and increased acuity of patients are playing a big role in referral placement, along with preferences and prerequisites of referral sources. This is causing nursing homes and hospitals in high-demand areas to get creative with in-house offerings and hospital partnerships, as they are still experiencing bottlenecks in the referral process. At the same […]
Strawberry Fields REIT completed two separate acquisitions totaling $19.25 million of four Skilled Nursing Facilities (SNF) located in Tennessee and Texas. The acquisition of the Texas facilities for $15.25 million included a 75-bed SNF located in Hondo and 179-bed SNF located in Kerrville, the real estate investment trust (REIT) said in a press release Tuesday. […]
Strong leadership translates into a stable workforce, which is one reason why executives across the nursing home sector are recognizing the urgent need for support for Administrator-in-Training (AIT) programs. High turnover among leadership is causing massive ripple effects in just about every area of the sector. But bolstering the administrator workforce has tremendous challenges. For […]
Staffing is an ongoing concern at nursing homes, but the fires are finally calming down. As Skilled Nursing News continues to monitor shifts in staffing challenges – especially with the federal staffing mandate in place – our focus has become more vigilant. Thus, we wanted to take a step back and provide our readers with […]
By continuing to use the site, you agree to the use of cookies. More Information
The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this. For more information, see our cookie policy.
