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 […]
Petersen Health Care
The nursing home industry has been on a wild ride this past year, with major regulation up in the air and a flip in the White House leaving operators unsure of whether they should applaud or brace for impact. Rhetoric surrounding the federal minimum staffing mandate has changed drastically throughout the year, with leaders condemning […]
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 […]
One of Petersen Health Care’s nursing homes on Monday was placed in receivership, following the Illinois operator’s bankruptcy filing in March. The Courtyard Estates of Farmington nursing home will now be overseen by a court-appointed receiver, thanks to a deal brokered by the Bank of Farmington, according to a report from Peoria Public Radio. Attorney […]
Petersen Health Care’s sale of the majority of its properties to Cascade Capital Partners, a Skokie, Ill.-based real estate investment firm, was approved by a federal bankruptcy court on Wednesday. The sale allows Petersen Health Care to move forward with a significant reorganization following its bankruptcy filing in March, enabling it to stabilize its financial […]
Troubled nursing home chain Petersen Health Care is close to completing the sale of a substantial portion of its facilities, pending court approval. All but five facilities of the Illinois-based nursing home chain, which filed for bankruptcy in late March, may be sold through Petersen Acquisitions LLC, a Delaware-based limited liability company, and were put […]
The sale of Petersen Health Care’s properties will now proceed after a deal was reached with one of its lenders to allow a court-appointed receiver to maintain operations of the nursing home giant’s eight Illinois facilities. Among the largest nursing home operators in the nation, Petersen filed for bankruptcy in March. The sale of these […]
One of the largest nursing home operators in the U.S., Petersen Health Care, on Wednesday filed for bankruptcy, following cyberattacks and defaults on government-backed loans. The Illinois-based operator filed for Chapter 11 protection in Delaware bankruptcy court with more than $295 million in debt, according to a report from Reuters. About $45 million of that […]
Petersen Health Care, which runs around 100 nursing homes and assisted living facilities across the Midwest, is preparing to file for Chapter 11 bankruptcy in the coming weeks, according to Bloomberg News. “Talks are not final and plans could change,” the Bloomberg report stated, citing unnamed sources with knowledge of the matter who asked not […]
An Illinois-based nursing home operator, which owns nearly 100 senior living properties across the state as well as others in Missouri and Iowa, faces legal challenges as prosecutors point to alleged unpaid loans. Petersen Health Care faces two foreclosure cases filed in the Illinois Northern District Court – litigation is linked to an alleged failure […]
Respiratory service vendors have seen a boom in business due to the pandemic, with respiratory therapists sometimes filling in when COVID unit staff on a nursing home campus became scarce. RTs became indispensable when facilities were experiencing a surge in COVID-19 cases, and continue to be needed to treat virus “long-haulers,” administering high-flow oxygen without […]