Extendicare announced Friday an agreement to sell almost off of its senior care business in the United States for $870 million to a group of investors led by Formation Capital, LLC. The portfolio comprises 141 owned and operated senior care communities, four communities operated under lease agreements, ten which are operated under managed contracts, and […]
Extendicare
Extendicare Health Services Inc., which operates 146 skilled nursing facilities in 11 states, has agreed to pay $38 million to settle claims that it billed Medicare and Medicaid for “substandard” nursing services, the Department of Justice (DOJ) announced late last week. Extendicare and its subsidiary Progressive Step Corporation (ProStep) allegedly billed the federal government for […]
In case you missed it, here are the top five stories grabbing Senior Housing News readers’ attention this week: Five Coolest Senior Care Tech Unveiled at CES 2014—SHN took a look at the senior care tech making waves at this year’s Consumer Electronics Show. From home-based care to wearable devices, we tallied our top five. […]
Extendicare Inc. (TSX: EXE) will split up its U.S. and Canadian businesses, the company announced in its first quarter 2013 results . The company’s board of directors cited contrasting regulatory environments between the two nations have “long presented challenges to the market.” “This divergence has been emphasized by the significant change in the U.S. operating […]
Increased litigation and a failed effort to pass legislation curbing lawsuits against nursing homes have pushed Canadian-based nursing home chain operator Extendicare Health Services Inc. out of Kentucky. The operator has agreed to lease its 21 Kentucky nursing homes, representing more than 1,700 beds, to an experienced third-party long-term care operator based in Texas. The […]
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