HCR ManorCare Deal The Future Or A Risk?

Hospitals and post-acute providers have not mixed well in the past, but ProMedica Health System hopes that changes. I keep thinking about the Welltower and ProMedica Health System acquisition of Quality Care Properties and HCR ManorCare. Given today’s valuations, ProMedica may have gotten a bit of a deal with ManorCare’s home health and hospice business. But we […]

The 40-Year Old SNF

The skilled nursing sector is under pressure, especially those facilities built 40 years ago. But buyers continue to see opportunity. There are some people who believe skilled nursing facilities are dinosaurs and will continue to see declines in census and profitability. There are others who believe they are part of the solution to contain healthcare […]

M&A Market Surges

After a very slow March, April seniors housing and care M&A transactions surged to nearly 50 acquisitions, more than double the number in March. In the first quarter this year, we averaged about 26 seniors housing and care acquisitions each month for a total of 77 in the quarter. That was close to what we […]

A Fearsome Threesome: Welltower, Quality Care Properties and ProMedica Health Deal

We would be lying if we said we were not surprised by the announcement that Welltower will be buying Quality Care Properties for about $2 billion plus assumed debt, that ProMedica Health Systems would be buying the operating assets of HCR ManorCare, and that Welltower and ProMedica would be joint venturing. Strange bedfellows, for sure. […]

M&A Values Dip

For the 12 months ended March 31, 2018, assisted and independent living average prices fell, while skilled nursing stayed the same as in 2017. After a record 2017 for assisted living average prices, for the trailing 12 months ended March 31, the prices have come down to earth, a bit. In this most recent period, […]

First Quarter Occupancy Down Again

Seniors housing occupancy levels dropped both sequentially and year over year, but new development continues. While it did not come as much of a surprise, the recently reported occupancy trends from NIC MAP were certainly disheartening. For occupancy at stabilized assisted living communities in the top 100 markets to drop 70 basis points from the […]