Rethink Podcast #26: Randy Oostra of ProMedica Health System

Randy Oostra, the president and CEO of ProMedica Health System, is well situated to see every angle of the unfolding COVID-19 pandemic in both the acute and pos-acute fields. The Toledo, Ohio-based ProMedica acquired the operations of HCR ManorCare in 2018 – which puts ProMedica in a unique position during a pandemic that is attacking […]

Citing Quality Concerns, Senators Demand Answers from Major Private Equity Owners of Nursing Homes

The structure and finances of private equity investors in the skilled nursing space have come under the federal microscope, with two U.S. senators and a U.S. representative demanding answers from four major firms about their investment in nursing homes. Presidential hopeful Sen. Elizabeth Warren, along with Sen. Sherrod Brown and Rep. Mark Pocan, sent strongly-worded […]

Moody’s: PDPM Has Potential to Stabilize Rents for Skilled Nursing REITs

Skilled nursing facilities will become more financially stable under the new system for Medicare reimbursement – which is a good sign for their landlords, according to Moody’s. Specifically, the stabilized cash flows under the Patient-Driven Payment Model (PDPM) are set to improve real estate investment trusts’ (REIT) credit standing, allowing more investments in this sector, […]

ProMedica Loses $70M in 2018 After ManorCare Skilled Nursing Acquisition

Non-profit hospital operator ProMedica announced its first set of annual financial data after acquiring skilled nursing giant HCR ManorCare last year, and the early results weren’t positive. The Toledo, Ohio-based firm reported $70 million in losses for fiscal 2018, according to an unaudited financial report for bondholders, despite a major revenue gain from absorbing approximately […]