About 60 days ago, leaders at Cedarhurst Senior Living came to a realization, causing them to shift from crisis response to restarting enterprise growth on a foundation of operational stability. “We need to embrace the world we’re in and figure out how to operate within it, or fall behind and lose opportunities,” CFO Stephen Wertman […]
The Pennant Group (Nasdaq: PNTG) was already contending with transitional headwinds related to its spinoff from the Ensign Group (Nasdaq: ENSG) when the coronavirus pandemic added further pressures to operations and liquidity. Compared to other operators, however, the Eagle, Idaho-based provider was able to ride out occupancy declines in the outbreak’s early weeks and reported […]
KeyBank secures $84M financing for 11-property Midwest Health portfolio. A KeyBank Real Estate Capital team led by Vice President Lee Delaveris secured an $84 financing package through Fannie Mae for an 11-property portfolio consisting of independent living and assisted living facilities owned and operated by Midwest Health. The portfolio comprises 584 units with properties located […]
National Health Investors (NYSE: NHI) Executive Vice President and CFO John Spaid says he has never seen the economy disrupted as fast as it has been by the coronavirus pandemic. “This is clearly an unprecedented challenge,” he said. Spaid has navigated major economic crises in his 37-year career in real estate and finance, ranging from […]
After affiliating with Sanford Health in 2019, the Evangelical Good Samaritan Society entered 2020 on stable footing and with access to ample financial resources as part of a larger health system. This improved financial position and the flexibility it brings is being put to the test during the Sioux Falls, North Dakota-based nonprofit provider response […]
Although the senior living industry is taking a cautious approach to embracing Medicare Advantage, Ohio Living CFO Bob Stillman believes that the program will lead to a seismic shift in care and payments. “I don’t think there will be straight reimbursed Medicare a decade from now,” he told Senior Housing News. Columbus-based Ohio Living operates […]
Civitas Senior Living launched a lot of experiments to innovate operational practices in 2019, and several of them failed. But that’s not a bad thing, according to CFO Jason Dupont. If approached correctly, even a failed experiment holds valuable lessons, he said. And given that senior living margins are under pressure from labor challenges and […]
Misty Hansen was not expecting a job offer when she met with Watermark Retirement Chairman David Freshwater and CEO David Barnes about four years ago. But, in the middle of their meeting, David Barnes said he had a bright idea: Hansen should come on board as the company’s CFO. After an early career stint with […]
Pam Kessler joined LTC Properties (NYSE: LTC) during a time of crisis for the real estate investment trust and the whole senior housing and care industry. After that trial by fire, Kessler helped lead the REIT through a long period of industry stability — but that has ended. Having started in accounting with Ernst & […]
Jamie Ranzan knew what she wanted to do from an early age. “I have wanted to work in senior living since I was 10 years old. Nobody believes me, to the point where I’ve had to break out my childhood yearbook and show them,” Ranzan, CFO of MorningStar Senior Living, said in a recent interview […]