Companies

Ventas has record quarter, unveils SNF spin-off plans

Ventas has record quarter, unveils SNF spin-off plans

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Real estate investment trust heavyweight Ventas flexed its muscles during the first quarter of 2015 as it reported record revenues and a plan to spin off most of its skilled nursing portfolio.

A Mercy-LSS deal is near

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Pending board approval of both organizations, Mercy Hospital St. Louis was preparing to transfer the ownership of 120 skilled nursing beds on its campus to Lutheran Senior Services.

ALFA members see bright light at end of dark economic tunnel

Senior living executives at a recent gathering of the Assisted Living Federation of America expressed their confidence in the strength of the industry, despite the current economic hardships facing other business sectors.

Nursing home stocks rally in wake of Medicare reduction proposal

Nursing home stocks rally in wake of Medicare reduction proposal

Nursing home operators may be lamenting the government's proposed Medicare payment cuts, but the stock market has reacted differently. Shares of several publicly traded long-term care chains spiked Monday, according to a recent market analysis.

Weak economy forces nursing homes to freeze jobs, delay infrastructure projects, study finds

Weak economy forces nursing homes to freeze jobs, delay infrastructure projects, study finds

A new study finds that difficult economic conditions are restricting nursing homes' access to capital. As a result, facilities are renegotiating supplier contracts, freezing jobs and holding off on wage increases, and delaying infrastructure projects.

Regulators say nursing home quality processes improved with corporate integrity agreements

Regulators say nursing home quality processes improved with corporate integrity agreements

Nursing home companies forced to begin corporate integrity agreements were all found to improve the way they pursued quality of care, according to government investigators. They looked at 15 corporations' efforts from 2000 to 2005 and found that each had created or upgraded written policies and structures, and had monitoring tools in place.

Report: Nursing home stocks weathering economy OK, but reimbursement concerns loom

At least a handful of for-profit nursing home companies' stock values are holding strong, despite an overall shaky economy, a new Dow Jones report notes. The key has been relatively stable Medicare and Medicaid payments, though there is concern about payment levels for fiscal 2010 that are expected to be announced around the end of the month, report authors note.

Senate Finance Committee meets with long-term care, other healthcare industry representatives today

Lawmakers in Washington returned to work this week after the spring recess, and they are wasting no time in resuming the debate over healthcare reform. The Senate Finance Committee is meeting today to discuss the issue with more than a dozen representatives from the healthcare industry, including long-term care.

Kindred earnings rise 30% in fourth quarter

Despite the general economic gloom at the end of 2008, Kindred Healthcare Inc. ended the year strong. Net income rose by 30% in the fourth quarter compared with the same quarter a year earlier.

Financial crisis hurting seniors housing market, NIC reports

Financial crisis hurting seniors housing market, NIC reports

Loan performance and capitalization rates in the senior housing sector are beginning to feel the pinch of the nation's credit crunch, according to a new market analysis released Tuesday by the National Investment Center for the Seniors Housing & Care Industry (NIC).

Erickson to cut more than 250 jobs as a result of market upheaval

Erickson to cut more than 250 jobs as a result of market upheaval

Erickson Retirement Communities, a major developer of continuing care retirement communities, will eliminate more than 250 full- and part-time positions in reaction to turmoil in the financial markets, the company said Thursday.

Top execs named at Erickson Retirement Communities, Golden Living

John Erickson, founder of Erickson Retirement Communities, a major senior living company, has stepped down from his post as the company's CEO, effective immediately.

Sunrise plays defense as share price hits new low

Sunrise Senior Living Inc. took some defensive action to avert a potential takeover after its stock hit a new low this week, plummeting to $0.38 per share, a news report said.

Sunrise loses nearly $69 million in third quarter

Sunrise Senior Living Inc., the largest assisted living chain in the United States, lost nearly $69 million in the third quarter of 2008. That reportedly is the company's worst loss in eight years.

Kindred posts loss in third quarter on poor hospital results

Kindred Healthcare Inc. widened its loss in the third quarter to $21 million or $0.56 per share, while revenues grew by a slight 1%.

Minnix: Economic woes not insurmountable

Minnix: Economic woes not insurmountable

Times are tough economically, but they're not impossible, said Larry Minnix, president and CEO of the American Association of Homes and Services for the Aging, in an interview with McKnight's on Monday.

Offering quality care is goal of new Golden Living CEO

Offering quality care is goal of new Golden Living CEO

Golden Living should be synonymous with quality care, Dr. Neil Kurtz, the new CEO and president of Golden Living, told McKnight's this week.

AAHSA expert: Bailout package should provide stability for seniors housing market

AAHSA expert: Bailout package should provide stability for seniors housing market

The controversial $700 billion bailout plan signed by the president last week is likely to have a positive effect on long-term care housing, according to an expert from the American Association of Homes and Services for the Aging.

Yarwood: U.S. must stabilize economy to preserve long-term care, retirement accounts

Yarwood: U.S. must stabilize economy to preserve long-term care, retirement accounts

Congress was attempting to hammer out an agreement Wednesday on a $700 bailout package for the unstable financial sector. Such action is good news for long-term care and seniors' retirement accounts, according to Bruce Yarwood, president of the American Health Care Association.

Surveys: companies, workers coughing up more for healthcare

Both employers and employees are paying more for healthcare, according to several recent surveys chronicling the rise and fall of employer-sponsored healthcare rates and premiums over the last year.

More transparent market data needed for seniors housing, expert says

More transparent market data needed for seniors housing, expert says

The seniors housing and care sector has made noticeable progress towards developing transparent data, but it still lags behind other real estate classes, according to one of the nation's most renowned real estate experts.

Occupancy rate stays stable for skilled nursing, drops for assisted living

The average skilled nursing occupancy rate held steady, while rates for assisted living and independent living fell noticeably. That is according to the National Investment Center for the Seniors Housing and Care Industry's Market Area Profiles (NIC MAP) statistics released Thursday.

Private equity firms do not affect nursing home quality of care, Harvard study finds

Private equity firms do not affect nursing home quality of care, Harvard study finds

A year after a news report uncovered resident care and ownership problems at privately held nursing homes, a new report from Harvard Medical School finds the opposite: Quality at nursing homes does not suffer, and, in certain cases, may even improve under private-equity ownership.

Sunrise-managed facilities switch hands in $643 million deal

Arcapita Inc., an international real estate investment firm based in Bahrain, sold its stake in 29 facilities managed by Sunrise Senior Living Inc. to Ohio-based Health Care REIT inc., a real estate investment trust with 635 properties nationwide.

Golden Living names Dr. Neil Kurtz second CEO

Golden Living names Dr. Neil Kurtz second CEO

The nation's second largest nursing-home chain has turned to a physician with deep experience in pharmaceutical research and delivery to become its new chief executive. Neil Kurtz, M.D., will become Golden Living's president and CEO on Aug. 29, the company announced Tuesday.

Five Star sues Sunrise over insurance charges

Senior-living provider Five Star Quality Care Inc. has filed a lawsuit against Sunrise Senior Living Inc., the largest assisted-living company in the United States, over alleged excess insurance charges.

Sunrise posts loss of $70 million in 2007, rethinks growth plans

Sunrise Senior Living Inc., a major assisted-living player in the United States, lost more than $70 million last year, and disclosed it would reduce the number of units in its development pipeline.

Safeguards fail to prevent fraud among some durable medical equipment suppliers, GAO finds

Safeguards fail to prevent fraud among some durable medical equipment suppliers, GAO finds

Some durable medical equipment, prosthetic, and orthotics suppliers (DMEPOS) are abusing the Medicare system, despite fraud-prevention safeguards, according to a new report from the Government Accountability Office.

Private firm completes purchase of Covenant Care

Centre Partners, a private equity firm with offices on the East and West coasts, says that it has completed its purchase of Covenant Care, which runs 43 skilled-nursing facilities and residential-care facilities in seven states. Terms of the previously announced purchase were not disclosed.

PETA asks nursing home residents to donate portion of stimulus checks

Five major nursing home chain owners received a solicitation this week from an organization that may be considered a horse of a different color: People for the Ethical Treatment of Animals, also known as PETA.