The skilled nursing bump in Medicare rates was a “positive surprise” for leadership at Invesque (TSE: IVQ.U), as most in the industry expected payment rates to decrease heading into next year. Bryan Hickman, senior vice president of investments at Invesque, said the change – in the form of a 2.7% increase to Medicare payment rates, […]
The Ensign Group
The Ensign Group (Nasdaq: ENSG) and its captive real estate company Standard Bearer are off to a busy start in July, adding five skilled nursing facilities and one campus to its operations and five real estate assets to the portfolio. These transactions bring the total number of acquisitions in 2022 to 21, the company’s fastest […]
The Ensign Group Inc. (Nasdaq: ENSG) announced on Tuesday that it increased its credit facility by $250 million, reaching an aggregate of $600 million for the skilled nursing operator. The borrowings are supported by a lending consortium arranged by Truist Securities. The new facility matures on April 8, 2027, and includes a $400 million incremental […]
Park Ridge, Ill.-based Ignite Medical Resorts is entering Texas for the first time as the operator of four skilled nursing facilities acquired by LTC Properties (NYSE: LTC) in a $52 million deal. “We’re looking for strategic growth that fits our vision. For this project, it was for facilities in four major metro areas, all close […]
CareTrust REIT (Nasdaq: CTRE) has a new CEO and is embarking on what leadership is calling a pivotal year as the company takes steps to mitigate the risk in its portfolio and pursue new avenues, while remaining active in its core business markets. It’s been a busy few months for new CEO David Sedgwick. The […]
The Ensign Group (NASDAQ: ENSG) announced it acquired the real estate and operations of The Waterton Healthcare and Rehabilitation, a 74-bed skilled nursing facility in Tyler, Texas. In a separate transaction on the same day, Ensign affiliates acquired the operations of Amarsi Assisted Living, a 103-bed assisted living facility located in Glendale, Ariz. and Citadel […]
With the company’s newly launched captive REIT valued at $1 billion and Covid-19 pressures starting to moderate, leaders with The Ensign Group (Nasdaq: ENSG) plan to bolster operations and expand in 2022. A third-party appraiser has valued Standard Bearer Healthcare REIT at $1 billion, Ensign announced in conjunction with its Q4 2021 earnings results. The […]
The COVID-19 pandemic continued to put pressure on an already strained skilled nursing industry in 2021. The next 12 months will be yet another test of resilience. Looking ahead to 2022, SNFs must stay nimble and inventive to not only survive but thrive. Private equity will continue to lead the nursing home transaction market pack, […]
CareTrust REIT (Nasdaq: CTRE) will ring in 2022 with a new CEO, the real estate investment trust announced Friday, amid reports that the company may be considering a sale. David Sedgwick, currently CareTrust’s president and chief operating officer, will succeed founding chairman and CEO Greg Stapley, who will continue to serve as executive chairman during […]
As skilled nursing facilities work to build back hospital referrals lost during COVID, one way some are opening themselves up to new patients is by increasing their participation in managed care despite the tighter margins that come with it. With skilled nursing occupancy still below pre-pandemic levels, operators simply are no longer in a position […]
Invesque Inc. (TSE: IVQ.U) sold a five-property portfolio with a $93 million price tag to The Ensign Group, marking an end to the owner/operator relationship between the two companies. Invesque, which went public in June 2016 with skilled nursing making up 75% of its portfolio, continues to divest from the sector with nursing homes now […]
National Health Investors Inc. (NYSE: NHI) CEO Eric Mendelsohn said its skilled nursing operators serve as a “blueprint” for long-term stability and growth at this point in the pandemic, during a third quarter earnings call late Monday. NHI’s skilled portfolio represents 32% of its annualized cash revenue, with National Healthcare Corporation (NYSE: NHC) and the […]
CareTrust REIT (Nasdaq: CTRE), which has 158 skilled nursing facilities in its 223-asset portfolio, collected 100% of rent from its tenants in the second quarter. With an active deals pipeline that tilts heavily toward skilled nursing, the real estate investment trust (REIT) continued to be aggressive on the acquisition front in the second quarter, Chief […]
Skilled nursing giant The Ensign Group (Nasdaq: ENSG) continues to see patient flows revert back to normal trends, as momentum from its bolstered first quarter occupancies continues into the second quarter. The San Juan Capistrano, Calif.-based provider on Wednesday reported ‘record’ operating results for the second financial quarter ending June 30 — with adjusted earnings […]
As skilled nursing facilities across the U.S. have begun to see occupancy rates rise, policymakers continue to reevaluate where care is delivered in the post-acute setting. The pendulum continues to shift toward at-home care. Just last month, the Biden administration unveiled a $400 billion plan to expand coverage of home-and community-based services, noting, in particular, […]
Skilled nursing giant The Ensign Group (Nasdaq: ENSG) continues to be immune from COVID-era pressures, posting another quarter of record earnings and plotting out post-pandemic growth — with an eye toward taking a page from its spinoff of its non-SNF business lines. The San Juan Capistrano, Calif.-based Ensign has engaged with advisors to potentially capitalize […]
Skilled nursing giant The Ensign Group (Nasdaq: ENSG) on Tuesday announced the acquisition of three new skilled nursing facilities in Colorado. The San Juan Capistrano, Calif.-based Ensign picked up the following three facilities as of April 1: The 140-bed Boulder Canyon Health and Rehabilitation in Boulder The 76-bed Berthoud Care and Rehabilitation in Berthoud The […]
A international group of 95 investment firms with holdings in post-acute and long-term care companies on Thursday called on the industry to bolster care and raise wages for frontline caregivers in the wake of the COVID-19 pandemic. “As the sector recovers, and we reflect upon the damage to our societies and the loss of human […]
The Ensign Group (Nasdaq: ENSG) is seeing admission volumes start to recover in the wake of vaccination clinics at its long-term care facilities, but the time it will take for occupancy to return to pre-COVID-19 levels is still an open question, the operator’s executives indicated during a virtual presentation at the brokerage and investment bank […]
The vaccine rollout at nursing homes and other congregational care settings has brought rapid and substantial declines in COVID-19 case numbers, but leaders at a top landlord in the sector say the desperately welcome trend has yet to have an impact on persistently low occupancy. “Fortunately, the rollout of the vaccine to over 94% of […]
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