Long-term care deals drove busy May

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A month of more than 90 healthcare transactions was led by long-term care movers and shakers, according to a list compiled for Bloomberg Law.

Bloomberg said its list, created by investment bankers working in the healthcare sector,  included any deal announced or closed during May.

In all, there were 30 long-term care entries, twice as many as for hospitals and health systems, and physician practices and services.

The large number “signals that these related sectors will continue to heat up as more baby boomers age into their 70s and 80s and require some level of care along the ‘long-term care services continuum,'” Gary W. Herschman, an attorney with Epstein Becker Green, told Bloomberg.

Highlights on the May list include:

  • Blueprint's sale of 14 skilled nursing facilities in Illinois and Missouri for $59.8 million, after the trust moved to end its relationship with two Illinois-based operators.
  • A regional operator's acquisition of three skilled nursing facilities in the Boston area for an undisclosed price after a publicly traded REIT put the 288-bed portfolio up for sale.
  • Luxor Healthcare Group's acquisition of the 181-bed Signature HealthCARE of Columbia, TN. “The seller was a publicly traded REIT seeking to dispose the asset as newer properties were completed in the market,” Bloomberg reported.