Movers & Shakers: ProMedica Names CFO; Epoch Finds Wellness Executive

Emerald Communities hires Corporate Controller Emerald Communities announced it has tapped Denisa Feddersen as its new corporate controller. As controller, Feddersen will oversee the financial management of both of Emerald’s communities, Emerald Heights and Heron’s Key. Feddersen joins Emerald after serving as VP of finance and corporate controller at a California-based senior living community after […]

ProMedica Names Brandt to Chief Admin Role, Appoints New Senior Care President

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 […]

ProMedica Selling Hospice, Home Care Business to Gentiva in $710M Deal

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 Completes Initial Closing of Integra JV Involving 15 Regional Operators

Welltower (NYSE: WELL) has announced the “initial” closing of its previously announced joint venture with Integra Health involving the transition of 147 skilled nursing facilities previously operated by ProMedica to 15 regional operators. ProMedica surrendered to Welltower its 15% interest in the 147-property portfolio, Welltower announced Friday. ProMedica will be absolved from its lease obligations […]

What Integra Blowback Means for Welltower’s Senior Living Strategy, the SNF Investment Landscape

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 […]

How Hospital System Woes, Strategic Shifts are Reshaping Senior Living

Hospital systems across the United States are pursuing strategy shifts that are starting to reshape senior living market dynamics and suggest new operating models. Health system ProMedica shed nearly all of its skilled nursing facilities while holding onto its private-pay memory care portfolio, in a recently announced deal involving Welltower (NYSE: WELL).  And about two […]

Welltower CEO: We ‘Strongly Believe’ Labor Market is Improving, RevPOR Increase Sets Record

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 Portfolio Skews To Memory Care As Welltower, Integra Health JV Takes 147 SNFs

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 […]

ProMedica CEO Oostra Announces Retirement, New Leader Named

Arturo Polizzi is ProMedica’s new CEO. Polizzi, who came into the president role in May, is succeeding current CEO Randy Oostra, who is retiring Monday after 25 years with the senior housing and care organization, according to an announcement. Polizzi has worked with Oostra over the last six months to plan a smooth transition, according […]