CompanyBriefs

Share this article:

» IPC The Hospitalist Company has acquired four affiliated post-acute practices in White Plains, NY. Known collectively as Park Avenue, the affiliated practices serve more than 120 skilled nursing and other post-acute facilities, according to co-owner Brad Markowitz. IPC is a physician group offering services in more than 800 post-acute facilities.

» St. Francis Healthcare System of Hawaii has doubled the estimated costs of opening a new 119-bed skilled nursing facility on a former hospital campus in Honolulu. Updated plans have pushed the project into the $20 million range, according to local reports. A capital campaign is in the works and construction is likely to begin in early 2014, officials said.

» The Redwoods, a community dedicated to providing affordable senior living and long-term care, closed on $30 million in financing for a revitalization project. In operation for four decades, the community in Mill Valley, CA, seeks to update its physical plant. Ziegler announced the deal, which involved tax-exempt bonds insured by Cal-Mortgage.

Ventas got a bump from Standard & Poor's, which last month raised the rating on Ventas' unsecured debt from BBB to BBB+, with a stable outlook. Ventas Chairman and CEO Debra A. Cafaro said the upgrade reflects the real estate investment trust's “financial strength and flexibility” and the “excellent performance” of its portfolio.



Share this article:

More in News

Also in the news for August 22, 2014

Iowa's nursing homes lost, on average, 41% of their employees each year from 2010-2012 ... Researchers identify proteins necessary in wound healing ... More than 40% percent of SSDI recipients take opioid pain relievers, study says.

CMS: Many skilled nursing providers have poor Medicare certification and recertification practices

CMS: Many skilled nursing providers have poor Medicare ...

The rate of improper Medicare payments to skilled nursing facilities has increased largely due to issues with certification and recertification statements, according to a recently released government memorandum. The Centers ...

NY nursing home agrees to $2.2 million settlement in case of false documentation

NY nursing home agrees to $2.2 million settlement ...

Nursing home operator Ralex Services Inc. has agreed to a $2.2 million settlement in a whistleblower case involving forged documents at a facility in New Rochelle, New York.