The Ensign Group (NASDAQ: ENSG) acquired Symbii Home Health and Hospice, a home health and hospice agency with branches in Utah. Effective as of May 15th, 2011, the company will be operated by a subsidiary of Conerstone Healthcare, Ensign’s home health and hospice-based portfolio subsidiary. “We are pleased with the growth and development of our home [...]
The New York Times is reporting that nursing home and home health care operators are starting a lobbying effort to seek some kind of exemption or special treatment from providing health care to employees. According to the article, among workers who provide hands-on care to nursing home residents, one in four has no health insurance. [...]
Speaking at the American Health Care Association and National Center for Assisted Living Independent Owner Leadership Conference in New Orleans, Jeffrey Davis, chairman of Cambridge Realty Capital said that finding capital for senior housing projects remains a challenge. “Even though the capital markets have improved considerably, the community banks that funded a lot of senior [...]
Some seniors are opting to stay in their homes and wait for their home equity to return, rather than moving on to senior living facilities, says a recent report from a Massachusetts newspaper. Several assisted living and senior housing facilities have recorded low occupancy levels due to the economic downturn and a trend in seniors [...]
LCS closed on a $38 million refinance loan from Bank of America and Bankers Trust for its StoneRidge community based in Stonington, Conn. A joint venture between Westminster Funds and LCS, the location comprises 40 acres with 270 residences, 12 assisted living suites, and 40 skilled nursing beds. StoneRidge is one of 12 Continuing Care Retirement [...]
The economic downturn has forced 73% of middle class Baby Boomers to rethink when they can retirement, with 79% saying they will delay retirement by an average of five years according to a new report from Bankers Life and Casualty Company Center for a Secure Retirement (SM) (CSR). The study focused on 500 middle-income Americans between ages [...]
HealthSouth Corporation (NYSE: HLS) has entered into an agreement to sell its six long term acute care hospitals (LTCHs) to LifeCare Holdings, Inc. for approximately $120 million. The transaction is expected to be completed in the third quarter of 2011 and is subject to customary closing conditions, including regulatory approval and third party consents. “The sale [...]
A group of lenders assisted Ventas (NYSE: VTR) in assuming $837 million in existing mortgage debt to close on its acquisition of Atria Senior Living Group. Red Mortgage Capital, Berkadia Commercial Mortgage and PNC Bank, originated more than 120 commercial mortgage loans made to wholly owned subsidiaries of Atria, Inc., the fourth-largest operator of assisted living properties [...]
Southern California Presbyterian Homes Becomes be.group Southern California Presbyterian Homes has announced that is has changed its name to the be.group. The nonprofit organization provides housing services to more than 5,300 older adults across California. Since it began in 1955, be.group has grown from one senior living community—White Sands La Jolla—to 34 licensed and affordable [...]
