60 Seconds with Swett: 2024 On Track for Record M&A Year
We have been saying for the past few months that we are currently on a record pace of M&A activity for seniors housing and care properties, and our preliminary results for the first half of the year show 334 publicly announced transactions. That is not only a record for any six-month period, but it is about 100 deals higher than the 236 recorded in the first half of 2023 and surpasses the 299 deals reported in the first half of 2022. Annualized, that puts 2024 deal volume at 670 transactions, which would also clearly be a record and more than 100 transactions higher than the previous annual record of 559 deals in 2022. And looking at Q2 alone, we recorded 183 transactions, which puts... Read More »
60 Seconds with Swett: CCRCs Lead the Occupancy Recovery
The CCRC market continues to lead all other sectors in its occupancy recovery, post-pandemic. Yes, we are talking about a smaller market, and many of these communities tend to be higher-end, luxury properties mostly in primary markets that have generally demonstrated better resilience in recent years. But the sector has not always been the bright spot in seniors housing, especially after the Great Financial Crisis, so this is new territory. Ziegler and NIC MAP partnered on a report detailing the occupancy gains in each CCRC segment for more than 1,160 CCRCs, including not-for-profit and for-profit, plus entrance-fee and rentals in 140 MSAs. Independent living was the highest, averaging... 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: Private Equity Ownership in Health Care
We have long been tired of the often-inaccurate claims of “private equity’s takeover of the nursing home industry” and the too-simplistic or misleading correlations between PE ownership and quality of care. Of course there are never any mentions of the need for SNF owners to make a profit or the benefits of fresh capital injections into the industry and into aging physical plants. We have also written several times that, according to our data, PE firms have only been the buyers in about 5% of SNF deals, a share that has actually shrunk in the last couple of years. Seniors housing was higher, above 10% of acquisitions, but a study done by our sister site LevinPro HC shows that several... Read More »
A Webinar Wrap-Up on 2023 M&A Valuations
The SeniorCare Investor recently hosted a webinar titled “2023 M&A Valuations and 2024 Predictions” with moderator Ben Swett, Managing Editor of SCI, Managing Director of Senior Living Investment Brokerage Bradley Clousing, Senior Managing Director and Head of Healthcare Services of Oxford Finance Tracy Maziek, and Principal of Scribner Capital James Scribner. After a chaotic and difficult year, in this webinar, the panelists dissected what exactly happened in 2023, how values changed and what motivated buyer and seller decisions. The webinar kicked off with a review of many statistics available in the soon-to-be-published Senior Care Acquisition Report, starting with how M&A... Read More »Schedule a demo
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