Senior Care Centers Files for Bankruptcy, Blaming ‘Expensive Leases’

Senior Care Centers announced Tuesday that it is filing for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Northern District of Texas. The move will allow Senior Care Centers, which has almost 10,000 residents and nearly 11,000 employees, to address “burdensome debt levels and expensive leases,” according to a press release announcing the […]

Sabra CEO: Senior Care Centers Stopped Paying Rent for Leverage Amid Sale

Sabra Health Care REIT (Nasdaq: SBRA) dropped the news late Monday that its largest operator, Senior Care Centers, had stopped paying rent — and on Tuesday, its CEO framed the issue as an attempt to force the company’s hand amid a pending sale. The Irvine, Calif.-based real estate investment trust (REIT) had already entered into […]

Sabra Terminates Leases on 36 Senior Care Centers SNFs, Sale Pending

Sabra Health Care REIT, Inc. (Nasdaq: SBRA) announced on Monday that its portfolio of Senior Care Centers buildings hasn’t generated straight-line rents since May, resulting in a $1.9 million shortfall in the company’s third-quarter income. The Irvine, Calif.-based real estate investment trust (REIT) issued notices of default and lease termination during the third quarter, the […]

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 […]

Skilled Nursing Must-Reads: The $1 SNF, Occupancy Drops

Welcome to Skilled Nursing News’s weekly roundup of the top headlines you need to see to kick-start your morning — from a SNF with a curiously low asking price to more negative trends in occupancy to the long-term effects of a lawsuit over snacks in Pennsylvania. SNN readers flocked to the story of a former […]

Largest Texas SNF Operator Takes Heat Over Hurricane Response

Texas state regulators are scrutinizing the state’s largest skilled nursing facility (SNF) operator after one of its administrators reportedly refused to allow an evacuation during Hurricane Harvey. An investigation is underway to determine why Lake Arthur Place in Port Arthur, Texas, initially stopped volunteers from taking its 70 residents away in boats even though the […]