Evergreen Management sees many opportunities ahead to grow in high acuity senior living as the company absorbs over 50 new memory care communities from ProMedica’s Arden Courts brand. In August, Evergreen assumed management of the operating business from ProMedica for 53 Arden Courts memory care communities along with 11 Auberge memory care properties. Evergreen is […]
Evergreen Management has assumed operations of 57 senior living communities, the majority of which belong to the Arden Courts brand. Toledo, Ohio-based Evergreen announced that, as of Aug. 1, it had taken on management of 53 Arden Courts specialized memory care properties and four independent living and assisted living communities. Evergreen is adding that slate of […]
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 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 […]
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) 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 […]
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 […]
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 […]
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 […]
