In case you missed them, here are the top five stories grabbing Senior Housing News readers’ attention this week:
Brookdale iPad Pilot Tests Tablet Use in Senior Living — Brookdale Senior Living Inc. (NYSE:BKD) is partnering with a research team at one of its newly acquired California-based Emeritus communities to study iPad use among a group of seniors. In addition, a control group of other residents without iPads will also be studied so that the results of the two groups can be compared. Those spearheading the study say they hope to learn more about the impact technology can have in seniors’ everyday lives.
Healthcare Industry Executives Expect Massive Consolidation Ahead — 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 doing business, according to the findings of a recent GE Capital survey. Fragmentation across the senior living and home health care sectors is triggering more consolidation, while simultaneously forcing others to diversify their service offerings, Anil Joseph, managing director with GE Capital’s Healthcare Financial Services, tells SHN.
[Update] HCN Inks $2.3 Billion Deal with HealthLease, Mainstreet — Health Care REIT, Inc. (NYSE: HCN) recently agreed to acquire HealthLease Properties REIT (TSE: HLP.UN) in a deal valued at $950 million, and has entered into a partnership with Mainstreet Property Group in a transaction that represents a combined potential $2.3 billion investment.
After $3.8 Billion in Deals, Ventas Targets Senior Housing Redevelopment — Ventas, Inc. (NYSE: VTR) has $116 million of projects under construction at 8% to 12% unlevered yields, said Ventas President Ray Lewis during a second quarter earnings call Tuesday. Ventas’ redevelopment pipeline comes on the heels of the Chicago-based REIT’s $3.8 billion of acquisitions under agreement in the last few months.
Bloomberg: Senior Care Founder Reaches Billionaire Status — Nursing home operator Life Care Centers of America, Inc. has seen revenue jump 81% to $2.9 billion, elevating Founder and Chairman Forrest Preston to billionaire status, Bloomberg reports. The sole shareholder of the company, Preston’s stake is valued at $2.3 billion.
Written by Cassandra Dowell