Genesis CEO Hager Retires, Board Chairman Fish Takes the Reins

George Hager Jr. is retiring from his role as CEO and director of Genesis HealthCare (NYSE: GEN), the national nursing home and assisted living company announced Tuesday. The company’s chairman of the board, Robert Fish, has succeeded Hager, effective immediately. Hager will continue to work as an advisor to the board, while Fish will keep […]

Skilled Nursing, Assisted Living Operator Genesis Warns of Possible Bankruptcy

Genesis HealthCare’s (NYSE: GEN) future as a going concern is in “substantial doubt” as a result of financial and operational strains stemming from the coronavirus pandemic — pressures that were brought into stark relief in its second quarter of 2020 earnings. The company’s portfolio of 361 facilities is dominated by skilled nursing but includes 23 […]

Welltower Credits ‘Painful’ Restructuring for Strong Senior Housing Performance

Welltower (NYSE: WELL) posted solid senior housing gains in the third quarter of 2019, thanks in part to the last few years spent unwinding certain “one-sided” relationships while forging new ones under more well-aligned RIDEA structures. That’s according to CEO and Chairman Thomas DeRosa, who on a Tuesday earnings call with investors and analysts laid […]

Benchmark Forms Urban-Focused Wellness Division, Adds New President

Benchmark, one of the largest senior living providers in the U.S. Northeast, is launching a Wellness Management division focused on new, urban communities. Denise McQuaide, who has served in executive roles within senior living and other health care companies over the last 30 years, has been hired to lead the division as president and COO. […]

Sabra CEO: No Reason to Panic Over Senior Housing Downturn

Despite senior housing industry headwinds, don’t expect real estate investment trusts (REITs) to be taking aggressive steps to cut rents or lower escalators for operators as they have been for skilled nursing tenants. That’s according to Rick Matros, CEO of the Irvine, California-based Sabra Health Care REIT (Nasdaq: SBRA). Some other REITs are more focused on […]

Editor’s Take: SNF Cast-Offs, Spinoffs and Pure Plays In Stormy Weather

Health care real estate investment trusts (REITs) underwent major refocusing last year, creating skilled nursing cast-offs, spinoffs and pure plays. Now, skilled nursing has slipped away from senior housing-focused REITs and is up for another year of challenges. While the rest of the health care system inches toward integration amid the ongoing shift toward value-based care, […]

Genesis Lays Off Staff in $50 Million Cost-Cutting Move

Census and labor pressures continued to hit the skilled nursing and post-acute sector hard at the end of 2016, prompting industry giant Genesis HealthCare (NYSE: GEN) to take major cost reduction initiatives, including laying off corporate and regional staff. The cost-cutting measures largely have been completed at this point and are expected to reduce the Kennett […]