Despite high interest rates, CareTrust REIT (NYSE: CTRE) is well positioned to invest and gain from the steady flow of attractive investment deals prevalent in the skilled nursing sector today, with executives underlining the company’s access to capital to feed a historic robust phase of growth. “We conservatively established a fortressed balance sheet for times […]
Category: Finance
Optum is paring back its workforce, including in the parts of the business related to Medicare Advantage plans for nursing home and assisted living residents. This is according to multiple industry sources who communicated with Skilled Nursing News, as well as anonymous posts on an online message board related to the layoffs at Optum, which […]
Acquisitions and the federal nursing home staffing mandate were top of mind for leaders of Ensign Group (Nasdaq: ENSG), with CEO Barry Port suggesting that the highly contested national staffing rule may be overturned in federal court or thrown out altogether. “We’re encouraged to see bipartisan support in the legislature that could result in this […]
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 […]
Welltower Inc. (NYSE: WELL) reported a robust start to the year, noting a nearly 19% year-over-year growth in FFO per share across all segments. Particularly noteworthy was the impressive performance of the senior housing business, surpassing expectations despite economic uncertainties and turbulence in commercial real estate sectors. Shankh Mitra, Welltower’s chief executive officer said that […]
Amid a better climate for federal and state reimbursements, higher profit margins and rising occupancy rates, LTC Properties (NYSE: LTC) executives said Tuesday that the nursing home industry is on target for robust growth. And while the California-based real estate investment trust (REIT) spent 2023 on portfolio adjustments, the key focus for 2024 will be […]
States like New York have modified their staffing mandate to reward nursing homes for avoiding costly staffing agencies, although operators don’t find this legislation particularly rewarding, especially now that the national minimum staffing mandate has been finalized. Stu Almer, CEO of Gurwin Healthcare in New York, said such legislation isn’t helpful given the ongoing workforce […]
Curve Health, a technology-based company focused on enhancing care within Skilled Nursing Facilities (SNFs), announced a strategic partnership Friday with MindCare, a behavioral health services provider. Through the partnership, the companies hope to address the growing demand for behavioral health within SNFs nationwide. Based in Nashville, Tennessee, MindCare provides telepsychiatry and telebehavioral health services. Meanwhile, […]
Health care cyber attacks have been an ever-present threat for providers, including nursing homes. But the most recent attacks on Change Healthcare have had ripple effects on the industry, prompting lobbying groups and federal agencies to action. The attack in February has affected cash flow and claims processes for some nursing home operators, associations said, […]
Petersen Health Care’s sale of a number of its nursing homes is facing delays as a creditor is calling into question the Illinois-based nursing home operator’s ability to file for bankruptcy. According to an article in WCBU Peoria, the dispute centers around whether Petersen can file for bankruptcy on behalf of eight properties currently being […]
Privately owned real estate and private equity firm Pacifica Companies has added more than 560 skilled nursing beds to its portfolio in the $180.5 million acquisition of a 15-community portfolio from Retirement Housing Foundation, which is pivoting away from post-acute care. That’s according to an April 19 press release from Chicago-based specialty investment bank Ziegler, […]
With Medicare Advantage penetration on the rise, one industry leader recently described his concerns around MA rates for skilled nursing providers as a “race to the bottom.” That comment came from Paul Branin, VP of Business Development at Health Dimensions Group (HDG), during the recent Capital & Strategy conference in Washington, D.C., which was organized […]
An activist investor of National Health Investors (NYSE: NHI) has called for changes to the real estate investment trust’s (REIT’s) board of directors , ahead of lease negotiations with one of the REIT’s largest tenants, National HealthCare Corporation (NHC). Land & Buildings Investment Management issued a letter to shareholders on Thursday, urging a shakeup in […]
Evans Senior Investments (ESI) recently orchestrated the stock sale of a dual-property skilled nursing portfolio in southwest Louisiana to Tutera Senior Living and Healthcare, which will operate the facilities as well. Constructed in 1970 and 1972 and located within 10 miles of each other, the communities have a combined total of over 350 skilled nursing […]
In its Wall Street debut on Thursday, PACS Group’s (NYSE: PACS) shares traded above the initial public offering (IPO) price to raise $450 million in funds. PACS shares closed at $23 per share, up nearly 10% above the IPO’s price of $21. This values the healthcare firm at $4 billion. The Farmington, Utah-based company raised […]
Skilled nursing beds continue to be associated with more operational stress among continuing care retirement communities (CCRCs) this year, despite improved occupancy from 72.4% in 2022 to 82.2% in 2023, and preliminary 2024 data showing further improvement. Fitch Ratings recorded eased labor challenges as well among skilled nursing providers as part of its “exposure draft” […]
Government leaders are cracking down on long-term care providers in Arizona, expanding health officials’ authority to monitor and fine operators in nursing homes, as well as assisted living and memory care. Legislation was signed into law on Monday, originally designed to establish minimum training standards for staff working with memory care residents, according to a […]
The federal government’s proposed Medicare payment increase for 2025 is not sitting well with the nursing home sector, with financial experts and operators raising concerns that the bump fails to compensate for inflation-induced operating costs – and a staffing proposal anticipated to cost in the billions each year. For some experts, the Centers for Medicare […]
LTC Properties (NYSE: LTC) has extended a $12.7 million senior loan to Ignite Medical Resorts, a current LTC operator, for the purchase of a skilled nursing and assisted living campus in Katy, Texas. The investment is termed an unconsolidated joint venture, LTC said in a press release. The California-based real estate investment trust also said […]
Nursing homes in Pennsylvania face a critical underfunding of Medicaid, with one in four nursing home beds currently offline due to inadequate reimbursement. Survey findings from LeadingAge PA also point toward the continuing workforce shortage, as to why so many beds are not in use. About 48% of facilities in the state have had to […]
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