Pegasus Launches Turnaround Effort for 36 Former Brookdale Properties

Newly formed operator Pegasus Senior Living is trying to accomplish a difficult feat right out of the gate: taking over a portfolio of 36 underperforming properties from Brookdale Senior Living (NYSE: BKD) and turning them around in a tough operating environment. To accomplish this, Pegasus co-founders Steven Vick and Chris Hollister say that their extensive […]

Ex-CEO Bebo Wins Review of $4.2 Million Penalty

The saga continues. The U.S. Securities and Exchange Commission (SEC) announced Dec. 8 that it will review a decision ordering former Assisted Living Concepts CEO Laurie Bebo to pay $4.2 million in civil penalties and prohibiting her from serving in director and officer positions. “[T]he commission will determine what sanctions, if any, are appropriate in […]

Grant Thornton to Pay $3 Million After Faulty Assisted Living Audits

Another one feels the sting in the long-running fraud case involving the national senior living provider formerly known as Assisted Living Concepts (ALC). This time, a national audit firm that conducted deficient audits of ALC has settled charges with the Securities and Exchange Commission (SEC) and will pay a $3 million penalty and forfeit $1.5 million […]

Ex-CEO Bebo Hammered Over ‘Fairy Tale,’ Faces $4.2 Million Penalty

Laurie Bebo, former CEO of Assisted Living Concepts Inc., has been ordered to pay $4.2 million in civil penalties for violating the Securities and Exchange Act by administrative law judge Cameron Elliot. The initial decision concludes a long-fought battle against Bebo after the Securities and Exchange Commission filed suit against her last year.  The decision also […]

Former Assisted Living Concepts CEO Files Suit … Again

In the latest drama in the ongoing story of former Assisted Living Concepts CEO Laurie Bebo, the fired executive has filed a lawsuit against the company for $900,000 in attorney fees and other expenses she incurred as a result of defending herself in a federal civil case and a lawsuit against the U.S. Securities and […]

LTC Completes 16-Property Sale to Enlivant for $26.5 Million

LTC Properties, Inc. (NYSE: LTC), a real estate investment trust that primarily invests in senior housing and health care properties, announced Monday it has completed the sale of 16 assisted living properties to Enlivant (formerly known as Assisted Living Concepts) for $26.5 million. The properties — located in Arizona, Idaho, Oregon and Washington — comprise 615 […]

Most Read: What the Future Holds for Assisted Living

In case you missed them… here are the top headlines grabbing SHN readers’ attention this week:  Forbes: What Will Assisted Living Look Like in 2020? — The changing needs and demands of senior housing residents are transforming the way assisted living communities operate, with many catering to residents with higher acuity than traditionally seen in years […]

SEC Files Fraud Charges Against Two Former Assisted Living Concepts Execs

The Securities and Exchange Commission is bringing new charges against two former executives of Assisted Living Concepts, alleging the executives listed fake occupants at some of its senior living communities in order to meet lease requirements. The charges, filed and announced by the SEC Enforcement Division, allege that former CEO Laurie Bebo and former CFO […]