ProMedica is phasing out the HCR ManorCare name. The non-profit health system on Friday announced that it’s moving its HCR ManorCare chain of nursing homes and senior living communities under the new “ProMedica Senior Care” moniker. The company is changing the name of facilities that operate under its senior living brand, Arden Courts, as well […]
HCR ManorCare
When former President Ronald Reagan announced his Alzheimer’s disease diagnosis in November 1994, clinical studies geared toward finding a cure for the disease were in their infancy, and long-term care facilities were mostly focused on treating residents in the early throes of cognitive decline. It was in this environment in which HCR ManorCare opened its […]
James F. “Jay” Flaherty III may be making a return to senior living, if Land & Buildings Investment Management has its way. The Stamford, Connecticut-based real estate investment firm will nominate Flaherty, along with L&B founder and Chief Investment Officer Jonathan Litt, to the board of directors of Brookdale Senior Living (NYSE: BKD) at the […]
Welltower (NYSE: WELL) has announced $1 billion in new off-market investments, involving 11 separate off-market senior housing and medical office transactions. In addition, an affiliate of Qatar Investment Authority (QIA) has made a $300 million investment in Welltower’s common stock and has an option to acquire an interest in a development pipeline of urban senior […]
Meeting the health care needs of older adults will be a major challenge in the months and years ahead and already is leading to increasing integration across the continuum of care. This is creating opportunities for senior living and skilled nursing operators — and their real estate partners — as health systems, payer groups and […]
Standard & Poor’s is contemplating a downgrade of ProMedica Health Systems’ credit rating, in light of the nonprofit’s acquisition of struggling skilled nursing giant HCR ManorCare. That transaction—a joint venture with real estate investment trust Welltower (NYSE: WELL)—closed last week. While asserting that the non-profit health system still has an A+ rating for its long-term […]
Leaders with Welltower (NYSE: WELL) believe the company is positioned to create and seize opportunities in the years ahead, thanks to a major new joint venture and a restructured senior housing portfolio. On Thursday, the real estate investment trust (REIT) and a nonprofit health system, ProMedica, closed on a joint venture deal valued at $4.4 […]
Welltower Inc.’s (NYSE: WELL) proposed $1.95 billion acquisition of Quality Care Properties (NYSE: QCP) may have hit a bump in the road. QCP on Tuesday announced that it has received an acquisition proposal from a third party, and that the real estate investment trust’s (REIT’s) board of directors believes the proposal could reasonably be expected to […]
The acquisition of HCR ManorCare by nonprofit health system ProMedica could be a sign of things to come for senior housing and care. Specifically, health systems and managed care organizations are increasingly seeing the value in owning senior living and skilled nursing providers, and they could become more active buyers in the future—particularly if this […]
Welltower Inc. (NYSE: WELL), one of the largest owners of senior housing properties in the United States, has reached an agreement to acquire another major player in the sector, Quality Care Properties (NYSE: QCP), in a $1.95 billion all-cash deal. Under this deal, Welltower will own the real estate of major post-acute provider and former […]
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