Inside Sabra’s ‘Unusual’ $430 Million Skilled Nursing Buy

Sabra Healthcare REIT, Inc. (Nasdaq: SBRA) last week made its first major skilled-nursing deal since merging with Care Capital Properties, buying the real estate associated with 24 SNFs for a total of $430 million: $378 million for the 21 properties that have already closed, and $52 million for three more set to close by the end […]

Sabra to Buy 24 SNFs for $430M, Sell Whole Genesis Portfolio

Sabra Health Care REIT (Nasdaq: SBRA) on Monday announced a pair of major moves, revealing a plan to buy 24 skilled nursing and transitional care units on the West Coast — and taking concrete steps to sell off its remaining 43 properties operated by Genesis HealthCare (NYSE: GEN) by the end of next year. The […]

Skilled Nursing Must-Reads: Occupancy Drops, SNF’s Fraud Drama

The industry continues to sort out what went wrong in Florida, but there were other headlines from the week in skilled nursing, including some grim numbers from the National Investment Center for Seniors Housing & Care (NIC) and an interesting ownership shuffle for some former Kindred facilities. First, the bad news: Nursing home occupancy dipped […]

Sabra’s Assisted Living Play Answers Questions About Post-Merger Future, CEO Says

Sabra Health Care REIT’s (Nasdaq: SBRA) definitive agreement to purchase a 49% equity interest in a joint venture that owns 183 senior housing communities clarifies exactly how Sabra plans to grow, according to company CEO Rick Matros. “Everybody was freaking out,” Matros explained to Skilled Nursing News, referencing certain investors’ reactions to Sabra’s recently approved merger with skilled nursing REIT Care […]

Skilled Nursing REIT Sabra Makes $371M Senior Housing Play

Sabra Health Care REIT (Nasdaq: SBRA) took a major step toward reducing its skilled nursing concentration on Tuesday, announcing the acquisition of a minority stake in a $1.6 billion assisted living portfolio. Sabra’s 49% stake in the deal, which includes 183 senior housing communities operated by the Chicago-based Enlivant, works out to about $371 million. […]

Despite Signature Troubles, Sabra Sees Bright Post-Merger Future

Fresh off the approval of its blockbuster merger with Care Capital Properties, Sabra Healthcare REIT, Inc. (Nasdaq: SBRA) on Friday trumpeted the better-than-estimated value of the deal — and predicted an orderly solution to one of its continuing problems. The company had been conservative in its pre-merger projections, CEO Rick Matros said on a conference […]

Fitch Upgrades Sabra Rating After CCP Acquisition

Sabra Health Care REIT (Nasdaq: SBRA) is in a positive place following its recently approved merger with Care Capital Properties (CCP), according to several ratings agencies. Fitch Ratings on Wednesday increased Sabra’s rating from BB+ to BBB-, an investment-grade rating, while Standard & Poor’s boosted its corporate credit rating on the Irvine, Calif.-based real estate […]

Sabra Shareholders Approve Merger with SNF-Heavy CCP

Shareholders of Sabra Health Care REIT, Inc. (NASDAQ: SBRA) on Tuesday approved the company’s merger with Care Capital Properties (NYSE: CCP), ending a public battle involving dissident hedge funds and several lawsuits. About two-thirds of the shares controlled by attendees at a special stockholder meeting in Irvine, Calif. were voted in favor of the deal, […]

Another Proxy Firm Gives Thumbs Up to Sabra-CCP Deal

A second proxy advisory firm has come out in favor of the impending merger of Sabra Health Care REIT, Inc. (NASDAQ: SBRA) and Care Capital Properties, Inc. (NYSE: CCP), bringing the current count to two in favor and one against. Egan-Jones Ratings Company issued a report late Tuesday recommending that Sabra shareholders vote for the […]

Sabra CEO Rebukes Activists, Sees Skilled Nursing Upsides

Sabra Health Care REIT, Inc. (Nasdaq: SBRA) came out swinging against activist shareholders on the company’s quarterly earnings call Thursday afternoon, trumpeting the potential of skilled nursing facilities in the future and questioning the credentials of those who have criticized its impending merger with Care Capital Properties (NYSE: CCP). A nearly “pure play” SNF real estate […]

Independent Proxy Firm Calls for Sabra-CCP Merger Veto

Another player has spoken out against the proposed $7.4 billion merger of Sabra Health Care REIT, Inc. (Nasdaq: SBRA) and Care Capital Properties (NYSE: CCP) — and this time, it’s an independent third party. Institutional Shareholder Services (ISS), an independent proxy advisory firm, added its voice to the chorus rejecting the merger, including shareholders Hudson Bay […]

Long-Term Care Leads Other Sectors in M&A Volume

Long-term care (LTC) deals played a key role in an overall increase in “megadeals” in the health services industry, according to a new analysis from Pricewaterhouse Coopers (PwC). Overall, 219 deals occurred throughout the health services industry, totaling to $49.6 billion, signifying a year-over-year increase of more than 201%, and a 514% jump from the first quarter of […]