ProMedica recently promoted a trio of company leaders to help guide the company forward., including a new president for its senior care division. The Toledo, Ohio-based company promoted Angela Brandt, previously president of ProMedica Senior Care, to the role of chief administrative officer Backfilling her newly vacated role is Justin Skiver, who was previously the […]
Integra Health
By Zahida Siddiqi ProMedica is selling its Heartland hospice and home care service line to hospice giant Gentiva for $710 million. The deal, announced Monday, comes on the heels of nonprofit health system ProMedica divesting of nearly 150 skilled nursing facilities in a deal involving Welltower (NYSE: WELL) and Integra Health. ProMedica still operates about […]
Welltower (NYSE: WELL) is taking heat. At issue is the deal to transition 147 skilled nursing facilities from a JV with ProMedica into a newly formed JV with Integra Health. The controversy has implications for Welltower’s senior living strategy and the future of skilled nursing investment generally. Last week, Hindenburg Research released a lengthy report […]
Improvements in senior housing fundamentals for Welltower (NYSE: WELL) are creating a “strong setup for 2023,” according to CEO and Chief Investment Officer Shankh Mitra. Specifically, Welltower’s senior housing operators demonstrated historically strong pricing power in Q3 2022, and Mitra is even more excited about positive workforce trends. “We strongly believe the labor market is […]
ProMedica’s senior care portfolio is being pared down substantially. The Toledo, Ohio-based organization will continue to operate 58 Arden Courts memory care communities that are in a joint venture with Welltower (NYSE: WELL), but is shedding nearly 150 skilled nursing assets. More specifically, Welltower is selling and transitioning 147 skilled nursing facilities currently operated by […]
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