Sunrise Senior Living, Inc. (NYSE: SRZ) has entered into a settlement and restructuring agreement with HCP (NYSE:HCP) to transition Sunrise from management of 27 HCP-owned senior living communities for an aggregate cash payment of $50 million to Sunrise, and to settle the lawsuits between the Company and HCP pending in Virginia and Delaware. HCP paid [...]
Representatives from the Illinois Housing Development Authority (IHDA) and local dignitaries recently celebrated the grand opening of Thomas Place Fox Lake new development of 100 rental homes for low-income seniors. The project features 67 two-bedroom, and 33 one-bedroom units for residents who are at least 55 years old with monthly rents ranging from $598 to [...]
Catholic Health Initiatives (CHI) and Bethesda, Inc. recently announced that the two entities have agreed to the sale of Bethesda, Inc’s subsidiary Consolidated Health Services, Inc to CHI. Consolidated Health Services currently operates in 30 locations in Indiana, Kentucky and Ohio and includes American Nursing Care, which provides home health services; Patient Transport Services, which [...]
Seniors and Baby Boomers may not be classified as early technology adopters but research is showing that they’re catching up quickly. A new report from Pew Research Center’s Internet & American Life Project shows that social networking use among internet users ages 50 and older nearly doubled—from 22% in April 2009 to 42% in May [...]
Last week, the the Superior Court of the State of California, County of Humboldt, denied the Motion for Mistrial or New Trial on Grounds of Juror Misconduct filed previously by Skilled Healthcare Group, Inc. (NYSE: SKH). In early July, Skilled Healthcare announced that the jury returned a verdict against the company for $671 million dollars.
In an effort to combat fears over the costs of reverse mortgage, FHA is proposing a variation of the traditional reverse mortgage product aimed at seniors looking for options to access home equity with lower costs. The proposed HECM Saver will have a upfront mortgage insurance premium (MIP) of .01% of the maximum claim amount [...]
COLLAGE, a consortium of aging service organizations, is sponsoring a symposium, Integrating Data and Technology to Advance Healthy Aging — Implications for Aging Service Organizations. The symposium is scheduled for September 27 and 28 in Chapel Hill, North Carolina and will examine what opportunities exist by participating in COLLAGE and using research data to provide [...]
Financial reform was touted as a way to further protect consumers but it appears that those protections are coming through as increased costs for mortgage transactions. According to Bankrate’s 2010 Closing Cost Survey, closing costs are on the rise. The study found the average origination and title fees on a $200,000 mortgage in 2010 totaled [...]
Kindred Healthcare, Inc. (NYSE: KND) announced last week that its subsidiaries have signed a definitive agreement to acquire five long-term acute care ("LTAC") hospitals from Vista Healthcare, LLC ("Vista") for a purchase price of $180 million in cash. Kindred also announced that its subsidiaries have signed a definitive agreement to acquire three recently constructed nursing [...]
