Troubled nursing home chain Petersen Health Care is close to completing the sale of a substantial portion of its facilities, pending court approval. All but five facilities of the Illinois-based nursing home chain, which filed for bankruptcy in late March, may be sold through Petersen Acquisitions LLC, a Delaware-based limited liability company, and were put […]
Category: Finance
‘The Safe Discharge’: Challenges Behind Balancing Care and Cost in Value-Based Care at Nursing Homes
Reimbursement issues at nursing homes are pushing operators to adapt their payment models to increase reliance on Institutional Special Needs Plans (I-SNPs) and Accountable Care Organizations (ACOs). But while these models aim to enhance care quality even as they control costs, they also bring on unique challenges, including requiring extra oversight with discharges and related […]
A skilled nursing facility located in Longview, Texas, was sold to an owner-operator of several skilled nursing facilities in Texas. Offering 108 beds, the community is approximately 24,653 square feet and sits on 3 acres of land. The community is enrolled in QIPP. The seller is a Texas-based partnership, which was selling its only skilled […]
Four nursing homes in Pittsburgh barely avoided closure after an agreement was reached on Monday to sell the properties to New York-based WeCare Center, which operates 10 facilities between the two states. The sale was approved by a bankruptcy court judge after an agreement was reached between creditors and the federal government, according to a […]
CIBC Bank provided an $85 million acquisition financing term loan and a $2 million working capital revolving line of credit for a portfolio of skilled nursing facilities in Wisconsin. Historical performance trended positively over the last year as the facilities improved census and operating leverage, CIBC said in a press release. Going forward, occupancy and […]
Skilled nursing assets at continuing care retirement communities (CCRCs) have long been subject to downsizing for a variety of reasons, including operational challenges, the cost to care for skilled patients and regulatory hurdles. Add to this list: the severity of the nursing home survey process. Stu Almer, CEO of Gurwin Healthcare System in New York, […]
Nursing home expenditures increased by 8.3% between March and April, second only to home health. Spending grew by 7.1% across the health care continuum year over year in April, as nursing care facilities saw a 1.8% decrease in employment compared to pre-pandemic numbers, according to a report by Stephens Inc. Meanwhile, nursing care facilities saw […]
Athena Health Care Systems, once the largest owner of nursing homes in Connecticut, sold five nursing homes for an undisclosed sum to a New-York based provider. The buyer agreed to pay back taxes and debts owed to vendors and contribute $2.6 million to its employees’ health care insurance fund to cover all medical bills, according […]
Members of the Moving Forward Nursing Home Quality Coalition are calling on the Department of Housing and Urban Development (HUD) to implement significant changes to its loan programs to better serve nursing homes. In an editorial published on Monday in Health Affairs and co-authored by David Grabowski, a health care policy researcher based at Harvard, […]
Occupancy shifts appear to be happening across the largest nursing home operators, with the Ensign Group (Nasdaq: ENSG) seeing facility occupancy fall as other leading sector players showed gains while overall sector occupancy levels remained steady. Ensign’s occupancy levels dropped to 78.5%, posting a loss of 40 basis points. Meanwhile, PACS Group (NYSE: PACS) saw […]
Evans Senior Investments (ESI) brokered the sale of Henry County Healthcare Center in Paris, Tennessee. The transaction was executed on behalf of Henry County. Built in 2001, Henry County Healthcare Center offers 136 skilled nursing beds across 5 acres of land. At the time of marketing, the facility was only 43% occupied and experiencing negative […]
Expenditures for Nursing facilities and continuing care retirement communities (CCRCs) is expected to reach $237.6 billion in 2026, and $337.4 billion by 2032, according to data released Wednesday. Nursing homes and CCRCs have been increasing steadily since 2021, states a report prepared by the Office of the Actuary (OACT) at the Centers for Medicare & […]
In recent years, nursing homes have faced increased scrutiny and litigation, often driven by data that can be misunderstood or misrepresented. To secure themselves, nursing homes must leverage a data strategy, ensuring accurate documentation and clear communication of their data story to legal experts and stakeholders. This approach can mitigate risks, clarify misunderstandings, and showcase […]
LaVie Care Centers, which filed for Chapter 11 bankruptcy with nearly $1.2 billion in debt this week, is also at the center of a lawsuit that claims the company shifted ownership of some of its facilities in Florida to avoid payment on previous dispute settlements. The Atlanta-based company denies these claims, and its court filing […]
National HealthCare Corporation (NYSE: NHC) plans to acquire the White Oak Senior Living portfolio, with facilities across North and South Carolina. White Oak consists of six skilled nursing facilities in North Carolina, three of which are continuing care retirement centers, and including one leased facility. In South Carolina, the portfolio consists of nine skilled nursing […]
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 […]
LaVie Care Centers, operator of 43 skilled nursing and assisted living facilities, filed for Chapter 11 bankruptcy on Sunday. Intending to facilitate an efficient financial restructuring plan with minimal disruption to its operations, LaVie filed voluntary petitions for relief under Chapter 11 in the U.S. Bankruptcy Court for the Northern District of Georgia. Despite the […]
While it’s widely understood that the 5-Star ratings for nursing homes don’t always accurately reflect the true performance of a facility in real time, or even in a timely manner, less attention has been given to the financial and legal headaches the rating system has created for both providers and consumers alike. The complexities that […]
Capital Funding Group (CFG) has successfully closed a $9.75 million Bridge-to-HUD loan to refinance a 123-bed skilled nursing facility in Massachusetts. The transaction was completed on May 1, 2024, for a nationally recognized borrower. “CFG has been a cornerstone in the healthcare financing sector for more than 30 years, and we’re proud to help yet […]
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