While the number of Chapter 11 healthcare bankruptcies has declined in the past three quarters, pharmaceutical and senior housing companies still make up nearly half of all bankruptcy filings at this point in 2024. That’s according to the latest Gibbins Advisors report, which analyzed Chapter 11 bankruptcy cases among companies with more than $10 million […]
Polsinelli
Healthcare-related Chapter 11 bankruptcy filings are still high in 2024, with the senior living industry showing “intense stress.” According to the latest Polsinelli-TrBK Distress Indices Report, distress in the healthcare sector is 813% higher than in 2010, representing the fourth consecutive quarter the report’s researchers have noted historic levels of distress. The annual report uses […]
From the possibility of litigation from residents and their families to potential Fair Housing Act violations, the senior living industry in 2023 is fraught with legal risks. There was a time in the not-too-distant past when senior living operators were not often in the eye of regulators or plaintiff attorneys. That has since changed, according […]
A not-for-profit senior living operator with nine senior living communities Texas is filing for liquidation through Chapter 7 bankruptcy. The operator, Glen Hope Harbor — which exists under the umbrella of Texas nonprofit The Emmaus Calling — owns nine assisted living and memory care communities totaling 144 units under the name Autumn Grove Cottages in […]
Relief funds from the CARES Act stimulus package helped many health care operators, including senior living providers, ward off the threat of distress and bankruptcy in the second quarter of 2020. That occurred against a backdrop of rising levels of financial distress within the health care sector as a whole, according to a new report […]
Last week, a jury in Van Nuys, California awarded plaintiffs $5.5 million in a suit they brought against AvantGarde Senior Living for negligence — the largest verdict in that city’s history. The facts in that case are troubling, involving an 89-year-old resident who broke her neck in a fall. But providers throughout the industry may […]
Health care companies are still experiencing a high level of financial distress, although the picture improved somewhat in the second quarter of 2018. The Health Care Services Distress Research Index was 340.00 in Q2, down 115 points from a record high in the first quarter of the year. The index is prepared and published on […]
A record number of health care companies filed for Chapter 11 bankruptcy in the fourth quarter of 2017, according to Kansas City, Missouri-based Polsinelli. The firm’s Health Care Services Distress Research Index reflects Chapter 11 filings among health care organizations, such as senior care communities, hospice agencies and hospitals, that have assets of more than $1 […]
Many senior housing providers make major changes—whether to their business model or care strategies—in the hopes of improving their bottom lines or better complying with various industry regulations. Unfortunately, these major changes also tend to lead to something else: confused, disgruntled residents and family members. When Holiday Retirement decided last year to abandon its longtime […]
In some ways, not-for-profit senior living providers and for-profit senior living providers couldn’t be more different. In other ways, they should likely try to be more similar. In fact, not-for-profit senior living providers have plenty to learn from their for-profit counterparts, according to experts who spoke at the LeadingAge Illinois 2017 Meeting and Exposition in […]
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