The Bottom Line: Presbyterian Senior Living Gains Financial Flexibility, Pursues Middle Market

Presbyterian Senior Living (PSL) CFO Dyan McAlister has experienced several challenging moments during her 22 years at the Dillsburg, Pennsylvania-based nonprofit operator. But none of those – not even the 2008 financial crisis – compares to the coronavirus pandemic. But the financial team proved to be nimble during the pandemic, and made adjustments to its […]

The Bottom Line: Cedarhurst Senior Living Gets ‘Back to Business,’ Nears 50-Community Mark

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 Bottom Line: CFO Nurtures Pennant’s Entrepreneurial Spirit in Covid-19 Battle

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 […]

Transactions & Financings: Midwest Health’s $84M Refinancing; MBK Acquires California Community

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 […]

The Bottom Line: Ohio Living CFO Expects Medicare Advantage To Dominate Within Decade

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 […]

The Bottom Line: Civitas Gets Experimental to Alleviate Margin Pressure

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 […]