Mid-Atlantic Health Care LLC has acquired a portfolio of four skilled nursing facilities that will spread its presence in Western Maryland.
Mergers and acquisitions in the healthcare sector are set for a robust 2016, according to a new report.
Louisville-based Signature HealthCare LLC is now the largest post-acute network in Kentucky, thanks to the acquisition of a fellow Louisville company's skilled nursing division.
Senior Care Centers acquired two Texas skilled nursing facilities in a $23 million deal, the Dallas-based company announced in December.
CareTrust REIT has completed the acquisition of a $177 million skilled nursing portfolio from Liberty Healthcare in Ohio, the company confirmed in October.
Post-acute provider and hospitalist staffing firm IPC Healthcare has acquired Chicago-based Hospital Medicine Consultants LLC, the companies announced in late October.
A joint venture between Griffin-American Healthcare REIT III and NorthStar Healthcare Income Inc. acquired senior healthcare provider Trilogy Health Services for $1.125 billion, the companies announced in late September.
A report released by investment firm Goldman Sachs named Brookdale Senior Living among six healthcare companies that make tempting targets for buyers.
Physician staffing company TeamHealth acquired post-acute care group IPC Healthcare Inc. for $1.6 billion, the companies announced in August.
Ventas Inc. announced it has completed the spin-off of the majority of its post-acute and skilled nursing facility portfolio into an independent, publicly traded REIT.
Granite Investment Group acquired a $90.1 million portfolio of five South Texas skilled nursing facilities in mid-July. The acquisition, which was completed through two off-market transactions, brings the Irvine, CA-based company's total portfolio value to $540 million. The company's portfolio is primarily comprised of senior housing facilities.
Extendicare closed the $870 million sale of its United States facilities to an investor group led by private equity firm Formation Capital LLC.
Genesis Healthcare will acquire 24 skilled nursing facilities from Revera Inc., as part of a $240 million portfolio.
Sabra Health Care REIT Inc. purchased four Maryland transitional care facilities for $234 million, the company announced in late June.
NorthStar Healthcare Income Inc. closed on a $639.3 million portfolio of continuing care retirement communities in mid-June.
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.
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.
Due to economic hardship, Hebrew Hospital Home is seeking a New York court's permission to sell its 160-bed senior residence facility in Westchester County.
Florida-based Greystone Healthcare Management has forged ahead with its acquisition of Autumn Health Care despite the central Ohio chain's former owner being indicted on charges of Medicaid fraud, forgery and operating a nursing home without a license.
Kindred Healthcare has completed its purchase of Gentiva Health Services in a deal valued at $1.8 billion, including assumed debt.
Embattled Brookdale Senior Living is being asked by a major shareholder to spin off its real estate holdings and revamp its governance board.
» Senior Housing Properties Trust will buy 38 senior-living communities for $790 million from CNL Lifestyle Properties Inc., including assumption of debt. The deal is expected to close in the second quarter. The communities encompass 3,466 total living units. This includes 826 independent living units, 1,860 assisted living units, 744 memory care units and 36 skilled nursing beds.
Ventas has declared a prorated common stock dividend, pending the completion of its American Realty Capital Healthcare Trust purchase.
Seniors housing companies prepping for baby boomers may encounter prospects who are largely unwilling and unable to relocate.
» Walker & Dunlop said a $9.9 million loan for the refinance of Vista Healthcare Center in California has closed. The center has 187 skilled nursing beds. The transaction was processed through the HUD's LEAN program. The borrower, LifeHOUSE Health Services, will be able to pay off existing intra-company debt and take advantage of a long-term sub-4% rate. The loan is "somewhat unique," the firm said, as it carries a one-year lockout period with four years of lower-than-standard prepayment penalties.
Kindred Healthcare will expand its headquarters and add about 500 jobs, the company announced in December.
Long-term care providers should prepare for higher liability costs. They are anticipated to increase by 5% on a national basis in 2015, according to a new analysis from the American Health Care Association/National Center for Assisted Living and Aon Global Risk Consulting, an arm of insurer Aon plc.
» Omega Healthcare Investors is poised to own nearly 875 skilled nursing properties across 41 states, following its merger with Aviv REIT in a $3 billion deal announced in November. The all-stock deal will create the nation's "premier publicly traded pure-play skilled nursing facility real estate investment trust," the companies stated in joint press releases. The combination of the powerhouse REITs is just the latest mega-deal in the long-term care sector.
Seniors housing stock enjoyed occupancy rates above 90% in the third quarter, the National Investment Center for Seniors Housing & Care announced. Occupancy is up 3.4% since the cyclical low of 86.9% seen in the first quarter of 2010.
Nonprofit long-term care providers must work together to address alarming trends, or their market share could plummet, LeadingAge Chairman David Gehm told association members.
» Large nonprofit senior living groups continue to be largely the domain of faith-based operators, according to the latest LeadingAge Ziegler 100 report. Presbyterian-, Methodist- and Lutheran-run organizations were the most common, investigators found.
Many senior living operators could do a better job of attracting potential customers, a study by students at George Mason University has found.
Long-term care bucked healthcare industry trends with strong merger and acquisition activity in the second quarter, according to newly released data from professional services firm PricewaterhouseCoopers.
» Brookdale Senior Living and real estate investment trust HCP have finalized a $1.2 billion joint venture, the firms announced. The new partnership will include 14 continuing care retirement communities in its portfolio. Under the deal, Brookdale and HCP have also amended leases on 202 HCP-owned senior housing communities previously owned by Emeritus Corporation.
Skilled care facilities officially tabbed "alternate care sites" may not be able to take on hospital patient overflow during disasters, according to a report that examines hospital disaster planning.
Genesis HealthCare and Skilled Healthcare Group will merge to create a single company with more than 500 facilities nationwide, the providers announced in late August.
» CNL Healthcare Properties completed the acquisition of seven communities in Texas and one in Illinois for approximately $187.2 million, with potential adjustments related to property net operating income. The eight properties collectively have 798 units and 72 skilled nursing beds. They were acquired from Dallas-based South Bay Partners Ltd.
AdCare Health Systems plans to divest its senior living properties and become a holding company, the firm announced.
Seniors housing stock collectively rose by 0.1% in the second quarter, putting the sector on pace for a 1.5% annual increase, according to new data from the National Investment Center for the Seniors Housing & Care Industry.
» Center Management Group of Flushing, NY, will pay $145 million to purchase five nursing facilities and two senior living communities from the Archdiocese of Philadelphia. The company currently operates 15 nursing facilities across New York and New Jersey. As part of the deal, the buyer has pledged to maintain the Catholic character of the nursing homes.
A hospitalist company that works with thousands of facilities is facing federal charges that its clinicians routinely overbilled Medicare and Medicaid, authorities recently announced.
Proposed Medicare payment changes have put the nation's skilled care companies at odds with inpatient rehabilitation providers, and the two sides were making strident arguments in front of lawmakers at press time.
Kindred Healthcare increased its bid for Gentiva Health Services to about $534 million, and plans to take the offer directly to shareholders.
» Berkadia Commercial Mortgage LLC acquired Keystone Commercial Capital, a commercial mortgage banking company based in Scottsdale, AZ. Keystone services more than $2 billion in commercial real estate loans. Berkadia plans to add 16 employees to its offices.
Real estate investment trust giant Ventas took a huge step in bolstering its private-pay assets when it announced it would acquire American Realty Capital Healthcare Trust for $2.6 billion in cash and stock. The transaction is expected to close later this year.
» Four bidders have emerged as finalists to buy Griffin-American Healthcare REIT II Inc., in a transaction that could value the company at more than $3.6 billion.
Sunrise Senior Living has promoted Chris Winkle to its top executive post. The firm's former COO replaces Penny McIntyre, who had been on the job for less than six months.
Skilled nursing facilities' average occupancy rate continued to rise in the first three months of 2014, while absorption flipped into positive territory for the first time in almost a decade, according to the latest quarterly figures from the National Investment Center for the Seniors Housing & Care Industry.
» Compass Health has agreed to a $1.1 million settlement in a class action lawsuit alleging that the skilled nursing provider did not pay overtime or allow workers to take needed breaks. The firm operates seven skilled nursing facilities and two assisted living communities in the coastal area between Los Angeles and San Francisco.
Long-term care operators will face additional pressure to improve, said William Shrank, Ph.D., chief scientific officer for CVS/Caremark.