The Department of Labor has dismissed a whistleblower lawsuit filed by Laurie Bebo against the company she used to lead, Assisted Living Concepts, according to ALC's recently filed quarterly results.
Prominent real estate investment trusts are worried about the fiscal challenges facing skilled nursing homes, and some are looking to get out of the sector, according to the Wall Street Journal.
Ventas Chairman and CEO Debra A. Cafaro has made a $4 million gift to the University of Chicago Law School. The funds will provide provide full-tuition, three-year scholarships to 22 students over the course of nine years, the school announced.
Kindred Healthcare will continue to offload its nursing facility operations leased from Ventas, according to President and CEO Paul J. Diaz.
Ventas Inc. anticipates $386 million in 2012 net operating income after management fees from its private-pay senior housing communities managed by Atria Senior Living Inc. and Sunrise Senior Living Inc.
Investment firm TPG will acquire Assisted Living Concepts for $287 million, the companies announced Tuesday. ALC operates 210 facilities in 20 states.
As it recovers from a bruising fourth quarter, Kindred Healthcare said it would not renew seven Ventas lease bundles containing 64 facilities in 2013.
Stocks of the real estate investment trusts that serve nursing homes have been on a downward slide since July's announcement of a $3.87 billion cut in Medicare reimbursements.
HCP Inc. will pay $125 million to settle a lawsuit filed by fellow real estate investment trust Ventas, on top of HCP's recent $102.8 million payment to Ventas for compensatory damages.
A federal appeals court in Louisville has upheld a $101 million damages award in favor of the real estate investment trust Ventas in its lawsuit against HCP Inc.