With the senior living industry largely focused on when occupancy will start to recover, chief operating officers with provider companies are focused on rebuilding census — and feeling optimistic about the prospects for 2021. In fact, several COOs indicated that they are less worried about restoring occupancy than they are about looming workforce challenges. With […]
The Pennant Group (Nasdaq: PNTG) gave itself more financial flexibility a year into the coronavirus pandemic. The Eagle, Idaho-based company amended its revolving credit facility to $150 million, of which only $18.3 million was drawn as of February 22. Coupled with strong cash flow, expands Pennant’s ability to opportunistically target senior housing, home health and […]
Commonwealth Senior Living has appointed former COO Earl Parker to the role of CEO as part of a planned succession that was delayed by the pandemic. Richard Brewer, the company’s founder, chairman and former CEO, will continue to work as chairman and support the company’s strategic vision and direction, but on a part-time basis. He […]
“Last year, we thought that the 2020s would be a transformative decade — what an understatement. 2021 will set forth a new era in health care and senior living at large as a result of the pandemic.” These are the words of Ascension Living President Danny Stricker, but numerous other top executives in the industry […]
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Sales and operator transitions Commonwealth Senior Living acquires Virginia assisted living facility Commonwealth Senior Living acquired Cedar Manor Assisted Living, an assisted living facility in Chesapeake, Virginia including 60 assisted living beds and 12 memory care beds. The community will be rebranded as Commonwealth Senior Living at Cedar Manor. Immediately after the holiday season, the […]
The Covid-19 pandemic has created myriad problems for senior living providers. But these problems are not insurmountable, and companies across the industry are devising creative solutions. In this series, we’re surveying industry leaders to highlight these actionable solutions. As Covid-19 outbreaks spike across the country and some states and local governments return to lockdowns, Senior […]
Commonwealth Senior Living again helped Invesque (TSX: IVQ.U and IVQ) buoy an earnings period challenged by Covid-19. The portfolio, which Invesque acquired for $340 million last year and now includes more than 30 senior living communities, saw an occupancy decline of just 10 basis points in the third quarter of 2020 while holding steady on […]
“We won’t go back to the way we were. The new normal will not be the old normal.” These words were spoken last week by Beth Mace, chief economist at the National Investment Center for Seniors Housing & Care (NIC). But, it was a sentiment that many people have been expressing over the past month, […]
Covid-19 is giving health systems a better appreciation for senior living’s position as a part of the health care continuum, and for the fact that operators can provide social determinants of health to keep overall costs down for hospitals and acute care settings. Providers are also forging bonds with local public health departments they overlooked […]
