Top Trends That Will Shape the Skilled Nursing Sector in 2024

Margins squeezed by interest rates and inflation, staffing shortages amid a draconian staffing mandate proposal, an invasion of Medicare Advantage and mixed efforts at adapting to Minimum Data Set (MDS) changes are among a litany of the challenges facing the skilled nursing sector at the start of 2024. However, all is not doom and gloom […]

Welltower’s Acquisition Pace Adds $2B to the Pot, With $600M Earmarked for Nursing Homes

Welltower Inc. (NYSE: WELL) continues to ramp up acquisitions to increase bottom line growth, including investment in skilled nursing facilities, with about $600 million earmarked for SNF deals in the upcoming financial quarters. The Ohio-based real estate investment trust (REIT) recently announced $2 billion in potential deals tied to the launch of an equity offering, […]

Welltower Makes $405M SNF Investments in Q3 for 24 Properties

While Welltower Inc. (NYSE:WELL) was primarily focused on non-skilled nursing assets in the third quarter, it nevertheless completed some large SNF acquisitions worth over $400 million during the quarter. The Ohio-based REIT acquired 24 long-term post-acute care properties in Q3, totaling 2,897 beds at $140,000 per bed. “Next, same-store NOI and our long-term post-acute [ph] […]

‘Rapid Turnaround’: After Strong Q2 Results Welltower CEO Sees Opportunities in Skilled Nursing

Welltower (NYSE: WELL) executives said Tuesday that its skilled nursing facilities undergoing a change of hands to new operators have gone from losing money to making profits during the course of the second quarter. CIO Nikhil Chaudhri said during Welltower’s conference call that out of 147 skilled nursing buildings that were being transitioned over to […]

Welltower Touts Margin Gains in 7-Property SNF Portfolio, Teases Similar Approach Across Integra JV

Leaders with Welltower (NYSE: WELL) are touting improvements in a portfolio of seven skilled nursing facilities, saying that a similar playbook is being deployed across the large portfolio of SNFs in its joint venture with Integra Health. The seven SNFs in question transitioned from being operated by Genesis HealthCare to Complete Care Management, in 2021. […]

How Kaiser Permanente’s Acquisition of Geisinger Could Drive More Integrated Post-Acute Care

California-based health care group Kaiser Permanente on Wednesday announced its plans to acquire Pennsylvania-based, Geisinger Health, to form a new healthcare entity in a deal that aims to expand value-based care access across the U.S., with potential implications for how care is delivered to older adults. The new entity, Risant Health, will be headquartered in […]

After Exiting Skilled Nursing JV, ProMedica To Sell Hospice Biz in $710M Deal

ProMedica is selling its Heartland hospice and home care business to Gentiva. The deal, announced Monday, comes on the heels of nonprofit health system ProMedica divesting of nearly 150 skilled nursing facilities in a deal involving Welltower (NYSE: WELL) and Integra Health. Gentiva is the largest hospice company in the U.S. based on revenue and […]

Genesis Adding 38 Nursing Homes in Largest Expansion Since ‘Market Model’ Launch

Genesis Healthcare Inc. will add 34 nursing homes in Pennsylvania to the 15 the company currently operates in the state, in addition to taking over management of four in Colorado. “This transition marks the largest expansion of services provided by Genesis and its affiliates since the organization underwent a transformation into a market model approach […]

Nursing Home Giant Good Samaritan Society to Exit 15 States, Focus on Core Markets

The Evangelical Lutheran Good Samaritan Society, one of the largest skilled nursing providers in the United States, plans to consolidate its operations from 22 states to seven. Once the process is complete, the Sioux Falls, South Dakota-based Good Samaritan Society will have operations in South Dakota, North Dakota, Iowa, Minnesota, Nebraska, Kansas and Colorado. About […]

Top Skilled Nursing Trends for 2023

Economic uncertainty, staffing shortages, looming federal regulations, a new COVID variant and major changes to the Minimum Data Set (MDS) are just a few of the challenges facing the skilled nursing sector at the dawn of 2023. But a new year is also a time for optimism. Favorable Medicaid policies, the growth of strong regional […]

Welltower Completes Initial Closing of Integra JV, 15 Regionals to Operate SNFs

Welltower (NYSE: WELL) and Integra Health have completed an “initial” closing of their previously announced joint venture, which will involve the transition of 147 skilled nursing facilities previously operated by ProMedica to 15 regional operators. ProMedica surrendered to Welltower its 15% interest in the 147-property portfolio, Welltower announced Friday. ProMedica will be absolved from its […]

REIT Moves Drive a Reordering of the Skilled Nursing Operator Landscape

Skilled nursing operators should anticipate further distress in the coming months and into 2023, which will likely result in even greater divides among providers. The winners and losers already are being sorted, as the latest round of real estate investment trust (REIT) earnings made clear. And unsurprisingly, strong regional operators are leading the pack. Welltower […]

ProMedica Senior Care Reports $87.3M Loss in 3Q On Heels Of Welltower Transaction 

ProMedica’s senior care division announced an $87.3 million loss for the third financial quarter, a deeper cut compared to a $53.4 million operational loss in the same quarter last year. The financial report comes on the heels of Welltower’s (NYSE: Well) plans to sell and transition 147 skilled nursing facilities from ProMedica to Integra Health, […]

Welltower CEO: Integra Health JV, ProMedica Exit a ‘Win’ For All Parties

ProMedica Senior Care’s ongoing efforts to rebound its portfolio — most recently through occupancy gains and lower contract labor costs — proved not to be enough to sway Welltower’s (NYSE: WELL) decision to transition and sell 147 of its skilled nursing assets, according to CEO and Chief Investment Officer Shankh Mitra. Mitra sees the deal […]

[UPDATED] 147 ProMedica SNF Assets to Transition into New Welltower, Integra Health JV

Welltower (NYSE: Well) is selling and transitioning 147 skilled nursing facilities currently operated by ProMedica to a newly formed joint venture with Integra Health, the company announced Monday. ProMedica has agreed to surrender its 15% interest in the SNF assets involved in their existing 85/15 joint venture with the real estate investment trust (REIT) and […]

Welltower CEO: ProMedica on Better Footing Despite Agency Labor Hurdles

ProMedica Senior Care is on a better path more than a year after Welltower (NYSE: WELL) bolstered its joint venture with the senior housing and care operator — but agency labor remains a challenge. The Toledo, Ohio-based health system this year has reported significant losses in its senior care division — which includes skilled nursing […]

REITs Owned 12% of US Skilled Nursing Assets in 2021, Ownership Trends Changing

Real estate investment trusts (REITs) owned about 12% of all skilled nursing assets as of 2021, equating to about 1,870 facilities. That’s according to a research letter published in JAMA Health. Researchers also examined REIT ownership trends of hospitals and other health care properties. The data comes at a time when the Biden administration and […]