• Reliq Health Technologies Adds 30 SNF Clients

    Reliq Health Technologies, a global healthcare technology company involved in virtual care, announced that it added 30 new skilled nursing facility clients to a previously disclosed contract with a large healthcare network in Florida. The deal is expected to result in over 3,000 new patients per month using Reliq’s iUGO Care platform, which... Read More »
  • Ziegler Finances South Carolina CCRC Expansion

    Ziegler closed $29.2 million in Series 2023A and B bonds for Bishop Gadsden Episcopal Retirement Community, a not-for-profit CCRC on James Island in Charleston, South Carolina. The financing will help fund the construction of an independent living expansion on the campus and comes four years after Ziegler also helped finance the construction of a... Read More »
  • Erickson Senior Living Planning Big Tampa Bay Project

    It may be up for debate exactly when seniors housing development kicks back into high gear to prepare for the oncoming baby boomers, but Erickson Senior Living is planning its next project at its typically large scale to include more than 1,000 units of seniors housing in Lakewood Ranch, Florida. The company is seeking site approvals from Manatee... Read More »
  • 1031 Crowdfunding Enters Utah Market

    1031 Crowdfunding announced the acquisition of its first seniors housing communities in the state of Utah. The two assets combine for a total of 178 units of assisted living and memory care. Built in 2011 and 2016 respectively by the same developer, Spring Gardens St. George and Spring Gardens Lindon total 156,473 square feet across 5.8 acres.... Read More »
  • Stellar Senior Living Acquires Assisted Living Community in Utah

    Blueprint Healthcare Real Estate Advisors announced the sale of an assisted living community in South Jordan, Utah. Built in 2018, Anthology of South Jordan comprises 103 units of independent living, assisted living and memory care, and sits on 3.7 acres in the greater Salt Lake City area. The new owner is Stellar Senior Living, which renamed the... Read More »
60 Seconds With Swett: Healthcare M&A Activity Broke a Record in 2022, Too

60 Seconds With Swett: Healthcare M&A Activity Broke a Record in 2022, Too

Last week, we confirmed that long-term care M&A activity hit a record in 2022, but what about for the healthcare market as a whole? Across all other healthcare sectors, from home health and hospitals to physician groups and biotech, our sister site LevinPro HC tracked nearly 2,400 deals in 2022, or 2,392 to be exact at this moment, but we expect that number to creep up in the coming days and weeks. That does not even include the over-500 long-term care deals, and represents an 8% increase over the previous record of 2,214 deals in 2021. For many investors, the long-term demographics, strong governmental support and attractive yields in the healthcare industry are too good to pass up,... Read More »
60 Seconds With Swett: Healthcare M&A Activity Broke a Record in 2022, Too

60 Seconds With Swett: M&A Market Limps to Record Annual Total

We’re in a new year but a number of brokers and lenders may wish we were still in 2022. That is because many of them really made hay when the sun was shining (that sun being the lower interest rates of the first half of the year) and propelled us to a record M&A year, by some margin. After the previous record of 455 transactions in 2021, we have so far tallied 527 deals announced in 2022, a 16% increase year over year. We expect a few more 2022 deals to trickle in, but we did not experience the normal end-of-December rush of closings, except from a couple of brokerages. In fact, only 36 deals were made public during the month. That’s a solid number to end 2022 and similar to the... Read More »
The Night Before Christmas 2022

The Night Before Christmas 2022

‘Twas the night before Christmas,And all through the community,Not a resident was stirring,As they took all their meds early.The offerings were hung by the chimney with care,In hopes that a PE firm or REIT would still dare,The lenders were nestled all snug in their bed,With visions of term sheets that would not leave them for dead,And Cindy Baier in her kerchief and I with my pen,Had just settled down to discuss, but when?When out on the lawn there arose such a clatter,She sprang from the board room to see what was the matter,Away to the window we flew like a flash,And tore open the shutters to see who brought the cash.The moon on the breast of the new-fallen snow,Gave a lustre of... Read More »

60 Seconds With Swett: The Rising Insurance Costs in Senior Care

Senior care facilities are not catching a break. Labor costs have soared, even when not accounting for staffing agency costs, and won’t come back down. Occupancy is slowly recovering, but a long winter and a bad flu season will set the sector back. Food and other supply costs are high. Plus, inflation, higher interest rates, a weaker housing market and potential recession all make it harder for seniors to afford senior care services and certainly to cover another year of 8-12% rental rate increases necessary for communities to even maintain their operating margins. But another thorn in the sector’s side has been insurance costs, both property and liability, which are rising and eating into... Read More »
60 Seconds With Swett: Healthcare M&A Market Losing Steam, Too

60 Seconds With Swett: Healthcare M&A Market Losing Steam, Too

Our sister platform LevinPro HC tracks the M&A market across 12 other healthcare sectors, from hospitals and home health to physician medical groups and MOBs, with our deal database also going back to the early 1990s. And the trend in dealmaking that we are seeing in senior care appears to mirror the rest of the healthcare industry. Like in the seniors housing and care market, we have already broken the annual record for healthcare transactions, and there is still one month to go. As of this filming, we have tracked over 2,230 publicly announced transactions, surpassing the 2,209 transactions from all of 2021, which was the previous annual record high. A private equity rush into buying... Read More »
60 Seconds With Swett: Seniors Housing & Care Market Nears 500 Transactions for 2022

60 Seconds With Swett: Seniors Housing & Care Market Nears 500 Transactions for 2022

With one month to go until 2023, we are just a handful of deals away from breaking the 500-deal mark for 2022. You’ve heard us say before that the previous record for publicly announced deals was 456, set in 2019 when the biggest issues facing the senior care industry were overdevelopment and a potential PDPM-induced rate readjustment. So, for seniors housing and care buyers and sellers to come together on what we assume will be well more than 500 deals (more when you include the scores of deals confidentially disclosed to us) despite a lingering pandemic, a staffing crisis, inflation and rising interest rates throughout much of the year is impressive. Late last year, we did think there... Read More »