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
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 »
60 Seconds with Swett: Giving Thanks in 2022
It’s been yet another difficult year for the senior care industry with new curveballs coming from inflation and soaring interest rates and staffing woes continuing to hammer communities’ bottom lines. But on the eve of Thanksgiving, we can still find things to be thankful for in our industry. First and foremost, after more than two years of dealing with the pandemic and in most cases working while masked for their entire shifts, we are thankful to the senior care staff that showed up to work every day and provided great care for seniors. Our industry offers a good career path for millions of people, and thanks to most providers (and inflation), wages also increased in 2022 across the... Read More »
60 Seconds With Steve Monroe: Sonida Senior Living, One Step Forward, But…
In the November issue of The SeniorCare Investor, we raised the question of how long Sonida Senior Living could go with its cash burn rate. Well, the burn rate has decreased, which is good, but they are still not out of the woods. In a case of one step forward, two steps back, weighted average occupancy increased year over year by 270 basis points and by 50 basis points sequentially to 83.7% in the third quarter. Slower than we would want to see, but decent. The problem is that the same-community net operating margin declined by 140 basis points year over year and 100 basis points sequentially to 19.6%. And, RevPOR was up only 2.9% year over year to $3,682. That is not good enough.... Read More »60 Seconds With Steve Monroe: ProMedica Exits Welltower’s SNF Joint Venture
Well, well, well. Three months ago, after reviewing Welltower’s second quarter earnings call, we questioned how long ProMedica Health’s board would continue to subsidize huge operating losses suffered by its subsidiary, ProMedica Senior Care, under its joint venture with Welltower. It turns out, not much longer. Both companies just announced that the 147 nursing facilities, formerly known as the HCR ManorCare portfolio, were being sold to a new joint venture between Welltower and Integra Health (or possibly Integra Healthcare Properties). Not to be confused with California-based Integral Senior Living with more than 100 communities, orIntegraCare with 18 communities in three states, or a... Read More »Schedule a demo
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