A Sacramento Superior Court jury has slammed Emeritus Corp. with a $23 million verdict after finding the Seattle-based company guilty of wrongful death and elder abuse in a ruling last week. The senior living provider has been ordered to pay $500,000 in compensatory damages and $23 million in punitive damages to the family of Joan […]
Emeritus
Seattle-based Emeritus Corp. was found guilty of wrongful death and elder abuse on Tuesday in relation to its care of a former resident who died shortly after leaving an Emeritus-run senior living community in California. Joan Boice was an 82-year-old who passed away three months after moving into a nursing home in 2008, following her […]
A defining factor for residents of senior living communities can be the separation from past family and friends. But the online tools made available by communities are changing that by allowing them to stay connected with the outside world using e-mail or tools such as Skype. It’s not without some preparation on the part of […]
Senior living providers are expected to contribute to home healthcare M&A activity in 2013 as they seek ways to improve margins and expand services along the care continuum through strategic partnerships in response to healthcare reform efforts. Last year, home health and hospice industry deal volume rose 20.7% and the dollar volume of the deals […]
When Hurricane Sandy hit the East Coast around Halloween, senior living providers faced communication breakdown, power outages, and flooding as they continued caring for their residents. Some experienced extensive damage, while others counted themselves lucky. Although evacuation is sometimes necessary, keeping senior living residences operational during severe storms by proper preparation can help stem the […]
Despite chatter about development, many senior living industry giants seem to be focusing more on repositioning, renovating, and rebranding their communities than on building new ones. Brookdale Senior Living spent $7.9 million of net cash in the third quarter as part of its multi-million Program Max initiative to expand, redevelop, and reposition many of its […]
Last week, Emeritus Corporation (NYSE:ESC) agreed to purchase Nurse on Call, Inc., the largest Medicare-licensed home healthcare provider in Florida. Emeritus, the nation’s largest assisted living and memory care provider, will pay $102 million in cash for 91% of Nurse on Call’s parent company. The remaining equity will be owned by certain members of Nurse […]
HCP Inc.’s (NYSE:HCP) $1.73 billion acquisition of the Blackstone-Emeritus joint venture was the pitch the largest healthcare REIT was waiting for—”a fastball, right down the middle of the plate,” according to chairman and CEO Jay Flaherty on the third quarter earnings call. During a first quarter earnings call, an analyst had mentioned HCP’s “relatively low […]
In the aftermath of the Great Recession, the need for—and awareness of—supplemental options for paying for senior living has grown substantially, spurring the growth of relationships between senior living providers and senior funding sources. The economic downturn, burgeoning senior population, and ongoing budget crisis have combined to create an environment in which a growing number […]
This past week, HCP (NYSE:HCP) was the latest healthcare real estate investment trust to make a mammoth move in the senior housing space with the $1.73 billion acquisition of a 133-property portfolio owned by an Emeritus Corp. (NYSE:ESC) and Blackstone Group joint venture. By all accounts, it seems like it was a good deal for […]
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