In this week’s round-up, tech companies put forth their latest innovations in senior care. From personal robots and virtual exercising, to remote-monitoring technology that tracks vitality and detects injuries, companies are developing new tools to help seniors age in place. Other companies have taken steps in the operations direction, with mobile apps and social media […]
Assisted Living Concepts, Inc. (NYSE:ALC), which operates 210 senior living residences in 20 states, announced today that it has agreed to be acquired by TPG, a global private investment firm. Under the agreement, ALC stockholders will receive $12.00 in cash for each share of Class A common stock, and holders of Class B common stock […]
Health Care REIT, Inc. (NYSE: HCN) today announced a net income of $90.6 million, or $0.35 per diluted share, for the fourth quarter ended December 31, 2012, more than tripling last year’s $27.3 million fourth quarter net income. For the full year, HCN reported a net income attributable to common stockholders of $221.9 million, up […]
Fairfax Nursing Center (FNC), a Virginia-based skilled nursing facility, and its owners have agreed to pay $700,000 to settle allegations that they violated the False Claims Act. The settlement resolves claims that FNC provided excessive and medically unnecessary care services to 37 Medicare beneficiaries between January 2007 and December 2010. Therapy services provided to these […]
AdCare Property Holdings, LLC—a wholly owned subsidiary of AdCare Health Systems, Inc.—announced last week it has entered into an agreement with Avalon Health Care, LLC to acquire two skilled nursing facilities (SNF) for $28 million. The Nashville-based facilities that are being acquired include a 180-bed facility known as Bethany Health and Rehab, and a 240-bed […]
A growing population of seniors have transformed certain residences and neighborhoods into naturally occurring retirement communities (NORCs). While these communities enable seniors to live independently at home, there is a greater demand for community-based services to help this older population age in place. A recent census indicates that 22% of Upper West Siders are age […]
The climbing costs of long-term care insurance have aging families considering continuing-care retirement communities (CCRCs) to spend their aging years. While the entrance costs of CCRCs are steep, typically $280,000, according to the National Investment Center for Seniors Housing and Care Industry, the amenities provided by these communities might be worth it in the long […]
Assisted living facilities (ALFs) may find it difficult to comply with newly updated guidance that allows individuals with criminal backgrounds to work in senior living communities. The Equal Employment Opportunity Commission (EEOC) recently updated its guidance on the use of criminal background checks in employment, arguing that employment discrimination based on criminal history is in […]
Five new senior living communities planned for the Colorado Springs region—and a recently-opened sixth community—signal a impending development boom following a recession-induced new construction freeze. The city’s inventory of assisted living units will increase by more than 25%, according to an article in The Gazette about the senior living projects, and the developments are mostly […]
Construction: Planned Rosemount Seeks Builder for Senior Living Development The town of Rosemount, Minnesota is currently looking for a builder for an assisted living facility after the project’s original developer bowed out, reports Twin Cities Pioneer Press. Referencing a recent feasibility study, the Bloomington-based developer Doran Cos. claimed the reason for its pull-out was that […]
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