DOJ Charges HCR ManorCare with Medicare Fraud

HCP Inc. (NYSE: HCP) on Monday disclosed that the U.S. Department of Justice is charging its major skilled nursing facility tenant, HCR ManorCare, with submitting false Medicare claims. The news came two months after analysts pressed HCP leaders about the ongoing government investigation into ManorCare, and less than a month after the large-cap real estate […]

HCP: Bullish on Brookdale Joint Venture and Ready for Growth

Real estate investment trust HCP Inc. (NYSE: HCP) is undeterred by recent lackluster results from Brookdale Senior Living (NYSE: BKD), and is growing its continuing care retirement communities joint venture with the provider, company officials said in an earnings call Tuesday. A $1.2 billion strategic joint venture with Brookdale Senior Living (NYSE: BKD) was the […]

Movers & Shakers — People and Positions for January, Part IV

Kindred Healthcare Names EVP, COO Kindred Healthcare, Inc. (NYSE: KND) has announced that it has named Kent H. Wallace executive vice president and chief operating officer, effective Feb. 2, 2015. Wallace will be a member of the company’s Executive Committee. Previously, Kindred announced that Benjamin A. Breier, currently president and COO, will become CEO on March […]

Senior Housing Investments & Acquisitions: Care Trust REIT, LTC

CareTrust REIT Acquires Minn. Memory Care Facility for $7.2 Million  CareTrust REIT, Inc. (Nasdaq:CTRE) acquired Prelude at Woodbury, an upscale memory care facility in Woodbury, Minn., a Minneapolis suburb, for $7.2 million. The transaction was a sale-leaseback with Prelude Homes & Services, LLC, which developed the 30-bed facility in 2011 and has operated it since […]

Healthcare Industry Executives Expect Massive Consolidation Ahead

Just as reimbursement pressures may spur short-term consolidation within the home health sector, the same may be the case for the senior living and broader healthcare industry as well. Both healthcare service providers and product companies operating in the space are facing margin pressures due to challenges of growing revenue and the rising costs of […]

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 […]

California Workers Name Kindred in Lawsuit, Cite Wage Violations

Caregivers in California joined together to file a class action lawsuit against one of the nation’s largest post-acute health services provider, alleging that the provider failed to pay minimum wage and overtime to employees. Charges also include various meal and rest period violations, among other claims. Kindred Healthcare, Inc. and affiliated companies Professional Healthcare at […]

Mainstreet Launches New Operating Company to Manage Healthcare Resorts

Skilled nursing and short-stay rehabilitation provider Mainstreet, which recently announced a joint venture partnership with the Ensign Group (NASDAQ: ENSG) to develop five new “healthcare resort” properties, announced this week it is launching a new operating company. Mainstreet has hired David Stordy, former president of Golden LivingCenters as president of the new, yet-to-be-named company. The company […]

Kindred Co-Founder to Pay $1 Million to Resolve Medicare Fraud Claims

Michael R. Barr, the former chief executive officer of Louisville, Ky.-based HealthEssentials Solutions and co-founder of Kindred Healthcare Inc., has agreed to pay $1 million to resolve allegations of Medicare fraud related to HealthEssentials reimbursement claims. The Justice Department accused Barr, who along with W. Bruce Lunsford co-founded the company that’s now known as Kindred […]