Extendicare, a major North American long-term care operator, may sell off its 158 U.S. facilities before the end of the year. The company's move to separate its Canadian and U.S. businesses could strike an ominous note to other providers as the Affordable Care Act speeds toward full implementation.
Raise your hand if you've ever had a family that just didn't "get it" when dealing with the staff at your nursing home or long-term care facility. OK, put your hand down now. It's time to learn why Marie Marley could be your next best friend.
Long-term care operators are understandably giddy about the sudden prospect of immigration reform. Such a change holds the promise of a larger labor pool at a time of rampant worker shortages. Add in the possibility that a new labor law might also drive down wages and undermine union strength, and it's not hard to see why many operators are amped up.At press time, lawmakers in both Congressional chambers were getting ready to roll out legislation. Senators have reportedly agreed to a 13-year path to citizenship. Under their proposal, undocumented workers would get a green card after 10 years, and would need another three to gain citizenship. In the House, a three-pronged approach was being considered.
A real estate investment trust that allegedly engaged in questionable sales transactions with nonprofit operators recently settled with the state of Tennessee, which will lead to a $40 million payday for charities in the state.
Given many states' attempts to rein in Medicaid spending, and ongoing troubles in the housing market, long-term care operators are starting to consider new approaches to protect their margins, according to the "Senior Housing Research Report" from Marcus & Millichap.