» Genesis Healthcare aims to own or have buying options on 30% of its portfolio by late next year. The post-acute giant has shed 136 properties since 2016, but CEO George V. Hager Jr. said “favorable trends” are encouraging the company to grow density in certain markets. “Increased real estate ownership will lessen the burden of lease escalators, allow us to participate in future real estate appreciation and reduce our overall cost of capital,” he said.
» Diversicare Healthcare Services announced a tentative settlement agreement with the Department of Justice over therapy billing practices. President and CEO Jay McKnight said Diversicare increased its litigation contingency accrual by $3.1 million and will make payments on the to-be-finalized balance over five years.
» Regional Health Properties sold three skilled nursing properties in Oklahoma, Alabama and Georgia to affiliates of MED Healthcare Partners for $26.1 million. A fourth property was expected to close at the end of August. Regional Health used the proceeds to pay about $1 million in outstanding costs and repay $24.7 million in debt on the buildings.