It’s been a spicy news week, dominated by two organizations: HCP Inc. and Argentum.
HCP has been the laggard among the “Big 3” senior housing real estate investment trusts in recent years, seeing its share price drop below its peers as it has confronted a number of issues. With the news this week that it is spinning off its troubled skilled nursing assets into a new REIT, as well as hiring some new top leaders, the Irvine, California-based HCP might be regaining its swagger.
Meanwhile, the industry convened this week in Denver for the annual Argentum Senior Living Executive Conference. Among other news to come out of the conference, Board Chairman Brenda J. Bacon is passing the baton to Loren Shook, CEO of Silverado.
SHN readers also were eager to learn about some common flaws in senior housing unit design and see the latest cost of care stats from insurance company Genworth.
HCP to Spin Off Skilled Nursing Assets into New REIT—Turnaround artist and former Sunrise Senior Living CEO Mark Ordan will be CEO of the new publicly traded company. The move should leave HCP in a better place…but is the REIT still a takeover target?
HCP Makes Big Moves to Regain Senior Housing Swagger—After spinning off its skilled nursing assets, HCP is wasting no time in making moves to add luster to its senior housing portfolio.
HCP Re-Hires Former Chief Financial Officer—In terms of leadership, HCP is returning to what it knows.
In conjunction with the annual conference, SHN ran Leadership Series interviews with Argentum’s CEO James Balda and its outgoing Board Chairman Brenda Bacon. We also reported on some M&A and occupancy insights from the conference, and tips on how assisted living can get in on ACO action.
Argentum also conferred its annual Hero Awards, Senior Living Community Leadership Award (see video above), and Best of the Best Awards for innovative senior living programs and services. SHN congratulates all the winners. Special shout-out to Maria Oliva, COO and Principal at Pathway Senior Living LLC. The Chicago-based provider was Best of the Best Quality Care Winner.
“Mom does good things,” says SHN’s Jason Oliva. “I’m proud of her.”
Most Read SHN Article This Week
Common Flaws to Avoid in Senior Living Unit Design—Think track lighting is out? Maybe you should think again …
Chart of the Week
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World’s Oldest Person Dies—After 30 years of living in a senior housing community in New York, 116-year-old Susannah Mushatt Jones died on May 12.
Spicy—A very intimidating dog named Spicy scared an intruder away from a Maine senior living community.
Written by Tim Mullaney