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. […]
It’s been a difficult week in the world of skilled nursing, with investigators still attempting to determine what went wrong at the Rehabilitation Center at Hollywood Hills in Hollywood, Fla., where a lack of power in the wake of Hurricane Irma led to the deaths of eight residents. As of Friday morning, about 50 of […]
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 […]
Confederate forces may have surrendered to the Union more than 150 years ago, but there’s still one living American who’s receiving veterans’ benefits stemming from Civil War service. That would be Irene Triplett, a North Carolina skilled nursing resident who gets a monthly check from the Department of Veterans Affairs for her father’s service in […]
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 […]
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, […]
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 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 […]
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 (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 […]
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