Sabra, LTC: Skilled Nursing Market Has Hit ‘Trough,’ Slow Occupancy Growth Ahead

Multiple players across the skilled nursing industry have offered predictions as to when slumping occupancy figures will bottom out, and two prominent voices earlier this month declared that the bottom may be upon us. “I think we’re probably at around the trough,” Sabra Health Care REIT (Nasdaq: SBRA) chief investment officer Talya Nevo-Hacohen said during […]

PDPM Piles the Pressure on Smaller Skilled Nursing Operators

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 […]

Editor’s Take: Multiple CEOs (Probably) Can’t Be Wrong on PDPM

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 […]

Sabra Continues Genesis Exit, Joins Others in PDPM Support

Sabra Health Care REIT, Inc. (Nasdaq: SBRA) joined the chorus of voices praising the new skilled nursing payment model from the Centers for Medicare & Medicaid Services (CMS) on its second-quarter earnings conference call Thursday. “CMS issued their final rule affirming the Oct. 1 2.4% market basket increase and the implementation of PDPM in October of […]

Sabra Takes Proactive Approach to Skilled Nursing Data with PointRight Partnership

Sabra Health Care REIT (Nasdaq: SBRA) last week announced a strategic partnership with health care data analytics firm PointRight, in a move the companies are describing as a more proactive approach to monitoring individual skilled nursing facility performance. Under the agreement, tenants of Sabra-owned nursing homes will be able to use PointRight’s data software for […]

Sabra Enters into Skilled Nursing Data Partnership with PointRight

In a skilled nursing era where success is increasingly defined by the volume and accuracy of data, a major real estate investment trust (REIT) in the space on Tuesday announced a partnership with a leading health care analytics firm. The Irvine, Calif.-based Sabra Health Care REIT (Nasdaq: SBRA) will begin using three data products from […]

Sabra Sells Nine Genesis Facilities For $81.4M

Sabra Health Care REIT (Nasdaq: SBRA) completed the sale of nine facilities leased to Genesis Healthcare (NYSE: GEN) for $81.4 million and one facility leased to Signature HealthCARE for $7 million. The Genesis facilities included seven skilled nursing facilities, one senior housing community and one continuing care retirement community (CCRC). As a result of the sale, […]

Shifting List of Top-Paid Skilled Nursing CEOs Shows Industry Volatility

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 […]

Sabra Sells 12 Genesis Facilities, 8 Former CCP Buildings for $174M

Sabra Health Care REIT (Nasdaq: SBRA) on Monday announced the sale of 20 total buildings as its so-called “Genesis Exodus” nears completion. The Irvine, Calif.-based real estate investment trust (REIT) closed on the sale of 12 more properties operated by Genesis Healthcare (NYSE: GEN) last Friday, with a total price tag of $134 million. That […]

Sabra CEO: ‘Old Testament’ Almost Over As Genesis Exodus Wraps

Sabra Health Care REIT (Nasdaq: SBRA) on Thursday expressed optimism about the Centers for Medicare & Medicaid Services’ (CMS) new skilled nursing payment model and stressed its focus on executing its divestiture programs — particularly its sale of facilities operated by Genesis Healthcare (NYSE: GEN). Under the new model, incentives shift from short-term rehab to complex […]

Omega Inks New Deal with Signature, Sees Hot Local M&A Market

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 […]

Sabra Restructures Leases with Signature, Extends $12M Loan

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 […]

Genesis to Exit Texas, Divest 24 Skilled Nursing Facilities

Post-acute giant Genesis Healthcare, Inc. (NYSE: GEN) will completely exit the skilled nursing space in Texas, selling 23 facilities and transferring operations of a 24th by the middle of this year. The Kennett Square, Pa.-based operator announced the deal late Wednesday night, with the buyer identified as Regency REIT, LLC. That New York City-based real […]

New Therapy Payments a ‘Game Changer’ for Skilled Nursing Industry

Changes to the way Medicare reimburses providers of therapy services will change the game for skilled nursing operators, at least according to one industry analyst. The Resident Classification System, Version I (RCS-I) will replace the current fee-for-service Medicare therapy structure with a model that more closely tracks with larger trends toward value-based services, rewarding providers […]

Bank of America Upgrades Sabra Outlook Amid Senior Housing Push

By at least one analyst’s assessment, Sabra Health Care REIT’s (Nasdaq: SBRA) decision to diversify away from skilled nursing facilities has boosted its fortunes. Bank of America Merrill Lynch upgraded the real estate investment trust’s (REIT) stock from “underperform” to “neutral,” with research analyst Juan C. Sanabria pointing to Sabra’s ongoing divestment from properties operated […]

Genesis Posts $89M Loss in Fourth Quarter, Pledges Sunnier 2018

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 […]

CareTrust: Micro-Level Skilled Nursing Gains Outweigh Macro Pains

CareTrust REIT (NASDAQ: CTRE) has made moves to divest from a troubled operator, but management still remained upbeat about the potential for skilled nursing success in the year to come. After a positive experience transitioning seven of its 16 properties operated by Pristine Senior Living and Post-Acute Care in Ohio, CareTrust will market the remaining […]