After years of oversupply, recent data suggests a turnaround could be taking hold for assisted living. Some of the nation’s largest providers expect to gain further momentum in the months ahead, although some areas of the country have yet to benefit from improved market dynamics. Fourth quarter 2019 data from the National Investment Center for […]
Prairie Home Hospice & Community Care, a Marshall, Minnesota-based provider of hospice and home health services, announced last month that it was acquiring Fieldcrest Assisted Living in nearby Cottonwood. The community will begin operating under Prairie Home’s license on March 1. This is the latest example of the increasing interest hospice providers are showing in […]
By Dwayne J. Clark, Co-founder and CEO, Aegis Living When I first started out in the senior housing industry 34 years ago, management contracts were not only commonplace, they were highly sought after. As they say, “That was then, this is now.” Back in my early days in the industry, an owner/developer would put out […]
When it comes to assisted living rent growth, senior living providers in some markets are lagging behind. In fact, there are 11 major metro areas where assisted living rent growth and occupancy is behind the curve, according to a new report from the National Investment Center for Seniors Housing & Care (NIC). The report, authored […]
Wages for salaried and hourly assisted living employees continued an upward trend in 2019, with administrator salaries seeing the largest average increases. That’s according to a Senior Housing News analysis of the most recent Assisted Living Salary & Benefits Report from the Hospital & Healthcare Compensation Service, an annual release that is produced with support […]
Going into 2020, Aegis Living is taking an entrepreneurial approach to meet intense workforce challenges. And the provider’s president, Kris Engskov, is pushing for a broader industry effort. “I am concerned about how fast we need to reposition the industry,” he told Senior Housing News. Specifically, Engskov does not believe that senior living as a […]
Long-term care pharmacy giant Omnicare and its parent company CVS Health (NYSE: CVS) are defendants in a federal lawsuit alleging that hundreds of thousands of drugs were improperly dispensed to senior housing residents over a period of years. The complaint, filed Tuesday by the Manhattan U.S. Attorney’s office, and an accompanying press release name-check several […]
Scottsdale, Arizona-based Cadence Living has taken over operations for a seven-property, 402-unit senior living portfolio in North Carolina owned by Griffin-American Healthcare REIT III. The assisted living and memory care portfolio was previously operated by Raleigh, North Carolina-based Carillon Assisted Living. Carillon also recently exited a nine-property portfolio owned by Chicago-based real estate investment trust […]
The “Goddess of Domesticity” wants a piece of the senior housing space. Marquee Brands, the owner of the Martha Stewart Living brand, is partnering with global real estate branding firm Brands Lab International to develop real estate projects — potentially including assisted living — under the Stewart brand. The news was first reported on real […]
South Bend, Indiana Mayor and Democratic presidential hopeful Pete Buttigieg on Monday released a detailed, 19-page proposal to make long-term care for seniors more affordable and accessible, and allow retirees to maintain their economic independence. The centerpiece of Buttigieg’s plan is a benefit program, “Long Term Care America,” that would provide eligible seniors — those […]