60 Seconds with Steve Monroe: Mad as Hell
We are halfway through the year, and I am already angry. Angry at what, you may ask? All the interference from government, both elected officials and the bureaucrats. From people who think they understand how seniors housing should work. From the unions. From the anti-PE firm groups. I always say, do a few 12-hour shifts, or move in for a few days, and then tell me what you think. It is not easy, and most people are doing the best they can. Regardless, I am mad as Hell and getting tired of it all. Except, and not to sound hypocritical, but I had to smile when I read about the investigations into A Place for Mom, a service that I always had my suspicions about. A service that many... Read More »
Beth Mace New Director at Brookdale
Brookdale Senior Living recently held its annual meeting of shareholders, and Beth Mace was voted in as a new member of its Board of Directors. Not only that, but she received more votes than any other nominee (157,658,156), and fewer “against” votes than any other nominee. As readers know, we have complained that for many years Brookdale’s board has lacked any outside directors with any real knowledge of the seniors housing business, and now they have one. Beth recently retired as the head of research at NIC, and had been responsible for providing financial data to the industry to try to help investors and lenders understand certain dynamics, and how those dynamics... Read More »
Brookdale Posts Census Increase…Finally
We are now beyond this year’s muted flu season, and Brookdale Senior Living posted a small increase in occupancy for May, which should be the beginning of the peak summer selling period. If they don’t see larger increases in the next three months, it may be a rough start to next year. May average occupancy increased by 20 basis points over April, to 78.1%, while month-end occupancy increased by 30 basis points over April to 79.5%. Second quarter-to-date weighted average occupancy increased by 160 basis points to 78.0% compared with 76.4% in the comparable 2023 period. Unfortunately for Brookdale, this significantly underperforms the market. Using Welltower’s same-community SHOP... Read More »
60 Seconds with Swett: WSJ’s Private Equity Analysis in Health Care
Last week, The Wall Street Journal published an article examining private equity activity in the healthcare M&A market, specifically that its activity was down compared with 2023 because of increased regulatory scrutiny and higher interest rates. The article cited Pitchbook transaction data, and some of the numbers left our editors at our sister platform LevinPro HC, which exclusively covers the healthcare M&A market, scratching their heads. According to Pitchbook, as cited in the article, there were 180 PE add-on deals, or when a PE firm buys a company through a portfolio company, through May 28. Our numbers are higher, as LevinPro HC recorded 193 deals from a PE-backed company,... Read More »
60 Seconds with Swett: How Serious Is the Minimum Staffing Mandate?
We conducted a survey of our readers, asking some questions on the skilled nursing M&A market. Most of the results will be featured in the June issue of The SeniorCare Investor, released later this week, but here are a couple of takeaways from it. First, we asked whether the threat of the minimum staffing mandate (as it currently stands) would impact buyer demand for SNFs. The majority, or 72%, said “somewhat” while 21% said “not at all.” Only 7% thought that there would be a significant impact. Posing the same question, but how lenders’ ability to lend for SNFs would be impacted, also saw the majority, or 64%, of respondents say “somewhat” and 14% believed it would have no impact.... Read More »Schedule a demo
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