Company news

Look for business guidance in claims data, expert says

Look for business guidance in claims data, expert says

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Nursing home providers should use claims data to identify trends that may shift their business plans, one expert recommended in June.

Occupancy is steered by flu

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Skilled nursing facilities experienced slightly increased occupancy rates in the first quarter of 2016, likely due to winter-related causes such as flu and falls, according to the National Investment Center for Seniors Housing & Care.

REITs wary of skilled nursing sector woes, report asserts

REITs wary of skilled nursing sector woes, report asserts

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Real estate investment trusts are becoming increasingly cautious of the pitfalls associated with skilled nursing portfolios, according to a report from Fitch Ratings.

ManorCare, HCP Inc. sued

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HCP ignored fraud and misled investors about the performance of ManorCare, its skilled nursing portfolio, according to a class action filed in May.

For-profit shortfalls deserve  additional safeguards: report

For-profit shortfalls deserve additional safeguards: report

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A study in PLOS Medicine argues that previous research pointing to allegedly inferior care in for-profit skilled nursing facilities should drive the development of ways to protect vulnerable residents.

PA provider OKs $15 wage

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A Pennsylvania long-term care provider has agreed to a new contract that will pay most certified nursing assistants $15 an hour within five years.

Midsize, for-profit SNFs on the rise, CMS data reveals

Midsize, for-profit SNFs on the rise, CMS data reveals

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Medium-sized nursing homes and for-profit facilities have seen the biggest increases in number of facilities over the last five years, according to new data from the Centers for Medicare & Medicaid Services.

TX portfolio sets record

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Dallas-based Regency Post-Acute Healthcare System has sold a portfolio of 33 Texas skilled nursing facilities to Capital Senior Ventures, the companies announced in March.

Pilot program at Brookdale lowers hospital admissions

Pilot program at Brookdale lowers hospital admissions

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A pilot program designed to curb hospital admissions in Brookdale Senior Living's communities has shown positive returns, the company announced in late February.

TeamHealth aims for PAC

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Physician staffing firm TeamHealth is aiming to acquire post-acute physician groups in 2016 following its purchase of IPC Healthcare Inc.

Mergers, acquisitions climb, thanks to 'small deal' boom

Mergers, acquisitions climb, thanks to 'small deal' boom

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The senior care market closed out 2015 with more mergers and acquisitions than in 2014, but the dollar value of those deals was significantly less, according to a new report.

Proxy battle is avoided

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Long-term care provider Extendicare has reached an agreement with investment firm Oxford Park Group that will help avoid a "distracting proxy contest," the company announced in late January.

Mid-Atlantic expands skilled care portfolio in Maryland

Mid-Atlantic expands skilled care portfolio in Maryland

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Mid-Atlantic Health Care LLC has acquired a portfolio of four skilled nursing facilities that will spread its presence in Western Maryland.

Outlook strong for 2016 deals

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Mergers and acquisitions in the healthcare sector are set for a robust 2016, according to a new report.

Signature now dominates KY following Elmcroft purchase

Signature now dominates KY following Elmcroft purchase

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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.

SCC still in growth mode

Senior Care Centers acquired two Texas skilled nursing facilities in a $23 million deal, the Dallas-based company announced in December.

CareTrust REIT pays $177 M  to boost skilled care holdings

CareTrust REIT pays $177 M to boost skilled care holdings

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CareTrust REIT has completed the acquisition of a $177 million skilled nursing portfolio from Liberty Healthcare in Ohio, the company confirmed in October.

IPC acquires hospitalist

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Post-acute provider and hospitalist staffing firm IPC Healthcare has acquired Chicago-based Hospital Medicine Consultants LLC, the companies announced in late October.

Trilogy acquired by two REITs in another billion-dollar deal

Trilogy acquired by two REITs in another billion-dollar deal

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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.

Brookdale to tempt suitors

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A report released by investment firm Goldman Sachs named Brookdale Senior Living among six healthcare companies that make tempting targets for buyers.

TeamHealth pays $1.6 billion to buy IPC, skilled care access

TeamHealth pays $1.6 billion to buy IPC, skilled care access

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Physician staffing company TeamHealth acquired post-acute care group IPC Healthcare Inc. for $1.6 billion, the companies announced in August.

Ventas done with spin-off

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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 acquires $90 million portfolio of newer buildings

Granite acquires $90 million portfolio of newer buildings

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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 closes sale

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Extendicare closed the $870 million sale of its United States facilities to an investor group led by private equity firm Formation Capital LLC.

Genesis will acquire 24 SNFs in $240 million Revera deal

Genesis will acquire 24 SNFs in $240 million Revera deal

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Genesis Healthcare will acquire 24 skilled nursing facilities from Revera Inc., as part of a $240 million portfolio.

Sabra gains 678 new beds

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Sabra Health Care REIT Inc. purchased four Maryland transitional care facilities for $234 million, the company announced in late June.

NorthStar adding 15 CCRCs: Portfolio now tops $2 billion

NorthStar adding 15 CCRCs: Portfolio now tops $2 billion

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NorthStar Healthcare Income Inc. closed on a $639.3 million portfolio of continuing care retirement communities in mid-June.

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.

Hebrew Home needs to sell

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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.

Greystone acquires Autumn amid a troubling indictment

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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 deal lands Gentiva

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Kindred Healthcare has completed its purchase of Gentiva Health Services in a deal valued at $1.8 billion, including assumed debt.

Brookdale encounters a new problem: separation anxiety

Brookdale encounters a new problem: separation anxiety

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Embattled Brookdale Senior Living is being asked by a major shareholder to spin off its real estate holdings and revamp its governance board.

BusinessBriefs for February 2015

» 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 buy adds payoff

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Ventas has declared a prorated common stock dividend, pending the completion of its American Realty Capital Healthcare Trust purchase.

Many boomers not ready to make seniors housing move

Many boomers not ready to make seniors housing move

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Seniors housing companies prepping for baby boomers may encounter prospects who are largely unwilling and unable to relocate.

BusinessBriefs for January 2015

» 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 to add 500 jobs in KY

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Kindred Healthcare will expand its headquarters and add about 500 jobs, the company announced in December.

LTC liability costs projected to increase by 5% nationally

LTC liability costs projected to increase by 5% nationally

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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.

BusinessBriefs for December 2014

» 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.

Occupancy passes 90%

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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.

Nonprofits need to examine core services, says chairman

Nonprofits need to examine core services, says chairman

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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.

BusinessBriefs for November 2014

» 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.

Prospects not well courted

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Many senior living operators could do a better job of attracting potential customers, a study by students at George Mason University has found.

LTC-related deals took the lead in the second quarter

LTC-related deals took the lead in the second quarter

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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.

BusinessBriefs for October 2014

» 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.

SNFs limited in disasters

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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, Skilled Healthcare deal forms mega-company

Genesis, Skilled Healthcare deal forms mega-company

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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.

BusinessBriefs for September 2014

» 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 shifts business plan

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AdCare Health Systems plans to divest its senior living properties and become a holding company, the firm announced.

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