Welltower, ManorCare Deal Could Cost ProMedica Its A+ Credit Rating

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 […]

New Bidder Emerges to Challenge Welltower’s QCP Acquisition

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 […]

Welltower Takes Occupancy Hit in Challenging Senior Housing Environment

Welltower Inc.’s (NYSE: WELL) senior housing occupancy declined as expected in the first quarter of 2018, according to an earnings report published late on Wednesday. The Toledo, Ohio-based health care real estate investment trust (REIT) also announced it has reached an agreement to acquire Quality Care Properties (NYSE: QCP) in a $1.95 billion, all-cash transaction.  In […]

Must-Read News: Senior Care Innovation Center Announces Grand Opening

Happy Monday, Senior Housing News readers! Hopefully your weekend was a great one. The Thrive Innovation Center, a “thematic experience center” where consumers can try out innovative technology for aging seniors, is set to officially open in Louisville, Kentucky, on October 19.  The Thrive Center was created through a public-private partnership between the Commonwealth of Kentucky […]

QCP Reportedly Close to ManorCare Takeover

After a busy week of headlines and speculation, Quality Care Properties, Inc. (NYSE: QCP) is reportedly inching closer to a complete equity takeover of HCR ManorCare, its troubled skilled nursing tenant, according to a Sunday report from the New York Post. Less than a year ago, QCP spun off from Irvine, California-based real estate investment […]

ManorCare CEO Rumored to Demand $100 Million Payout

Skilled nursing provider HCR ManorCare and its primary landlord, real estate investment trust Quality Care Properties (NYSE: QCP), faced a one-two punch of bad news Monday, with the provider failing to make rent and rumors swirling about its CEO’s demands for a generous compensation package. QCP announced in an 8-K filing that HCR ManorCare came […]