Author Archive: Jason Oliva

rss feed

Tech Scam Targets Assisted Living Provider

Federal authorities indicted a Kansas couple last week on charges of stealing more than $1.5 million from Presbyterian Manors of Mid-America (PMMA), a faith-based assisted living provider in Kansas and Missouri.  Augusta, Kan. husband and wife Brent A. Shryock, 43, and Lori A. Shryock, 50, are charged with four counts of mail fraud stemming from… Read More »

Fitch: CCRC Bankruptcies No Cause for Alarm

Despite several recent reports of Chapter 11 bankruptcy filings among continuing care retirement communities (CCRCs) in the past week, there is no cause to raise the alarm for a sector-wide concern, according to Fitch Ratings.  Within the last week, two CCRCs in Indiana and New York both announced Ch.11 filings, each citing various pressures brought… Read More »

Sunrise, LCS, Merrill Gardens Among Newest ALFA Board Members

After months of anticipated changes, the Assisted Living Federation of America (ALFA) has named five new members to its Board of Directors. Joining the senior living trade group’s Board are Tana Gill, president of Seattle-based Merrill Gardens; Ed Kenny, CEO of Des Moines, Iowa-based LCS; Randy Richardson, president of Chicago-based Vi; Patricia Will, president of… Read More »

Senior Living Wander Tech Reduces Staff Response Times

A New England assisted living community has taken a holistic approach in rolling out a new pilot program that uses a campus-wide monitoring technology to track resident location and reduce staff response times the the event of an emergency, reports The Washington Post. Utilizing a real-time locating system from Stanley Black & Decker, Benchmark Senior… Read More »

Senior Living Newcomer Bullish on Competitive Dallas Market

Despite bubbling concerns of overbuilding and increasing competition, a newcomer to the senior housing industry still sees a vast opportunity in the Dallas market for its first foray into the space. A robust local economy, underdeveloped pockets of land and a need-driven demand fueled by aging demographics are all signaling the green light for Dallas-based… Read More »

Multi-Billion Dollar Bidding War for Home Health Giant Escalates

What began as an $1.6 billion proposal to acquire home health competitor Gentiva Health Services, Inc. (NYSE:GTIV) has escalated into an all out bidding war between Kindred Healthcare, Inc. (NYSE:KND) and an unnamed mystery bidder. Kindred has unsuccessfully been able to woo Gentiva into accepting any of its purchase proposals since its initial offer in… Read More »

In the Pipeline: Senior Housing Construction Projects (7/24/14)

Construction: Planned Developers Near Construction on $30MM Michigan Senior Living Village Brighton, Mich.-based Unified Property Group is readying a groundbreaking next month on its latest endeavor, a $30 million “senior living village” in Pittsfield Township, Mich., reports MLive. The Pittsfield Township Planning Commission recently approved the final site plans presented by Unified Property Group, which call… Read More »

AdCare Exits Senior Housing Operations, Moves Properties to Holding Company

AdCare Health Systems, Inc. (NYSE MKT: ADK) Wednesday announced it has put a strategic plan in place to transition the company to a healthcare property holding and leasing company. Through a series of leasing transactions, the operations of AdCare’s owned and operated facilities, which count more than 30 nationwide and are principally skilled nursing facilities,… Read More »

Indiana CCRC Leans on New Fee Model After Chapter 11 Bankruptcy Filing

An Indiana continuing care retirement community (CCRC) with $14 million of outstanding debt is leaning on Chapter 11 bankruptcy protection as well as a new fee model for independent living residents to help meet the community’s financial obligations. River Terrace Estates, a CCRC located in Bluffton, Ind., on Tuesday filed for Ch. 11 in the… Read More »

Capital Raise Launches $100 Million for China CCRC

A Hong Kong-based investor and a global capital raising firm have accumulated U.S. $100 million via insurance-based bonds for the development of a Chinese continuing care retirement community (CCRC). Assisted by Hong Kong’s First Equity Finance Company and IFA Capital, Chinese development company Jiangsu Suja Group Ltd. will raise the $100 million to construct a CCRC… Read More »

LTC Insurance Group Seeks Assisted Living Partner for Advocacy Campaign

A national advocacy organization is looking to partner with an assisted living provider to raise awareness for the importance of planning for long-term care services. The American Association for Long-Term Care Insurance is currently seeking an national assisted living organization interested in creating heightened awareness for the use of long-term care insurance to pay for the… Read More »