Georgia nonprofit A.G. Rhodes’ CEO, Deke Cateau, is all about solutions. To that end, he has had a busy couple of years, successfully expanding one of the operator’s three campuses to be all private rooms with a dementia area built with the household model in mind – a $37.5 million endeavor. Cateau said he would […]
Texas-based Touchstone Communities hasn’t been slowing down this year, with the operator busy acquiring and building properties. On top of brick-and-mortar updates, Touchstone also partnered with Longevity Health in January to offer institutional special needs plans (I-SNPs) to its residents. It’s very thoughtful, controlled growth aimed at diversification of assets, said Leslie Cunningham Campbell, COO […]
Renovating nursing homes to uplift the resident experience can improve not only property value and overall quality of care, but also regulatory compliance. Staffing and retention are ever-present roadblocks at nursing facilities, and upgrading the overall atmosphere can actually help alleviate some of these roadblocks, with caregivers wanting to be in a building that’s easier […]
The Ensign Group (Nasdaq: ENSG) has added two skilled nursing properties to its portfolio, bringing its overall portfolio to 312 skilled nursing facility operations, inclusive of 29 senior living operations, across 14 states. The latest acquisitions were 32-bed Wellsprings of Gilbert in Arizona, and 58-bed The Springs at St. Andrews Village in Aurora, Colorado. Ensign […]
CareTrust REIT (NYSE: CTRE) on Monday announced two strategic transactions totaling $180 million, five- and eight-facility skilled nursing portfolios both located across the Southeast and Mid-Atlantic. The larger transaction, which consists of 1,011 beds and 150 assisted living beds, was funded by a $90 million senior mortgage loan and $9 million preferred equity investment, the […]
The Ensign Group (Nasdaq: ENSG) on Wednesday announced eight facility acquisitions across six states – Utah, Arizona, Tennessee, Texas, Kansas and Iowa. The additions bring Ensign’s growing portfolio to 310 healthcare operations across 14 states. Twenty-nine of these operations also include senior living operations. Real estate in Arizona, River park Post Acute and Elmwood Senior […]
National Health Investors Inc. (NYSE: NHI), much like other real estate investment trusts (REITs), is looking at deals across the continuum of skilled nursing and senior housing and looking into different ways to invest, including through joint ventures, executives said. “We’re hopeful that we’re seeing the tip of the iceberg,” said NHI Chief Investment Officer […]
Investors appear to be less interested in the skilled nursing space, while other post-acute care settings like assisted living and independent living are increasingly sought after. Investors looking for SNF deals dropped drastically year-over-year in the last quarter of 2023, according to a seniors housing and care survey released by commercial real estate and investment […]
American Healthcare REIT fell short of its targeted initial public offering (IPO) amount, raising $672 million. The Irvine, California-based real estate investment trust was aiming to raise up to $840 million. Shares were sold at the bottom of a marketed range, adding to a run of modest performances as more companies moved ahead with new […]
Dealmaking in 2024 comes with cautious optimism and some apprehension from industry leaders in health care, including those in the nursing home space, as deal volume continues to be buffeted by macroeconomic headwinds. In line with the skilled nursing space, overall health services deal volumes through Nov. 15 have declined 13% compared to 2022 levels, […]
The costs of long-term care in every setting, including nursing homes, is considered out of reach for most seniors, averaging more than $100 per day nationwide. This is coupled with the fact that the majority of older adults with very low incomes will need such services and have the fewest resources to pay for them. […]
Welltower Inc. (NYSE: WELL) continues to ramp up acquisitions to increase bottom line growth, including investment in skilled nursing facilities, with about $600 million earmarked for SNF deals in the upcoming financial quarters. The Ohio-based real estate investment trust (REIT) recently announced $2 billion in potential deals tied to the launch of an equity offering, […]
As nursing home operators continue to decry staffing shortages as a contributor to access issues for residents, new construction of facilities to meet demand appear to be lagging as well. New construction has become especially difficult for operators trying to add Medicaid beds for low income residents, given notoriously low reimbursement rates – which are […]
As the nursing home space faces a crossroads, with the pandemic exposing many flaws in the long-term care system and exacerbating existing workforce and funding constraints, leaders are calling for a reimagined skilled nursing facility. Notably, SNF executives are placing greater importance on community, along with customized, coordinated and person-centered care for more ideal – […]
Against the backdrop of economic and staffing challenges still facing the nursing home sector, operators are seeking business innovations that are community-centered and that expand their health care offerings through unique public-private partnerships and financial arrangements. The innovations include transition into a nonprofit model, creative ways to use state and federal dollars, and addition of […]
North Shore Manor Inc. in Loveland, Colo. is awaiting approval for a proposed five-year repayment and reorganization Chap. 11 bankruptcy plan submitted to the U.S. Bankruptcy Court in Denver. Majority stakeholders of the 120-bed nursing home said they could repay the majority of obligations and shore up operations over five years, according to a report […]
Trilogy Health Services is bringing ancillary services provider Synchrony back in house, with Synchrony CEO and Trilogy Founder Randall Bufford stepping back from his leadership role. According to an announcement published Tuesday, Synchrony is joining Trilogy as a business unit rather than remaining a separate company subsidiary. Bufford is dropping his CEO role but will […]
Strawberry Fields REIT (NYSE: STRW) on Wednesday announced plans to purchase 24 facilities in Indiana –19 SNFs and five assisted living facilities – for $102 million. The SNFs make up a total of 1,659 licensed beds, while the assisted living properties have 193 beds between them, 29 of which are licensed. Acquisition news comes just […]
As rising acuity and reimbursement challenges stymy nursing home workforce growth, third party contracts have been increasingly responsible for providing daily services. Whether its providing resident-facing clinical work, including use of third party doctors, supplying medical equipment or rendering back office services that focus more on ensuring proper documentation for reimbursement, third parties are increasingly […]
With an ever increasing aging population that is sicker with higher acuities, COO Shawn Neville of SALMON Health and Retirement says capturing an accurate financial picture is a challenge for nursing homes – and an additional reason why so many are closing down. Neville was named to his current position at the family-owned and Massachusetts-based […]
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