Unfortunately, we have seen this situation all-too often when a skilled nursing facility faces too much turnover among its senior administrative staff combined with increasing pressures from ACOs (Accountable Care Organizations), leading to operational underperformance. In those ACOs, even though they are often the low-cost care provider for post-acute patients, SNFs often feel the most reimbursement pressure, and they feel it in their operating margins.
One regional operator with a 99-bed skilled nursing facility in San Bernardino County was facing these challenges plus the looming maturity of its first mortgage. So, they turned to Bill Janis and Mario Wilson of Helios Healthcare Capital to secure a short-term bridge loan that gives them time to stabilize operations before seeking a more permanent debt solution. Not an ideal situation, but a necessary one. Helios was able to work with their asset-based lender network and secure the funding within just two weeks of engagement.
