Roy E. Christensen, Industry Pioneer, 1934-2021
We learned at the end of last week that skilled nursing facility pioneer Roy Christensen passed away at the age of 87 after a short illness. Most recently, he was the Chairman of The Ensign Group, but his history in the skilled nursing industry goes back nearly 60 years. In 1963, he founded Beverly Enterprises, which grew to be the largest nursing home company in the country, with more than 1,000 facilities across the country. At the time, the company had a two-rate structure: $7.35 per day and $9.10 per day. That was certainly another era. He left Beverly in the mid-1970s and started teaching full time at Brigham Young University. He returned to the... Read More »Webinar | Labor: Finding it, Retention & Coping with Higher Wages | October 21, 2021
About the Webinar Going into the pandemic, the seniors housing and care sector was already struggling with the supply and cost of labor. When unemployment skyrocketed, some believed that would begin to alleviate the supply problem. But early on, it did not seem to have the expected effect, as many potential employees were scared off by the risk of working in senior care where so many residents and staff had contracted the virus, not to mention that the supplemental unemployment benefits were a disincentive to taking on a new job. Under the Biden administration, there will be a push for a $15 federal minimum wage, if not higher over time, a level that will cause financial harm for some... Read More »
New York Times Hits SNFs, Again
The New York Times hit one of its favorite punching bags again with an article titled “Phony Diagnoses Hide High Rates of Drugging at Nursing Homes.” In it, the Times alleges that a loophole not requiring nursing homes to report antipsychotic prescriptions for three uncommon conditions, including schizophrenia, has led doctors associated with the facilities to false diagnose schizophrenia in patients with dementia. Since these patients require much more time and attention from an already overworked and underpaid staff, the Times reasons that SNFs would rather drug them than provide real dementia care. Some of the stats seemed damning. An analysis of Medicare data showed that schizophrenia... Read More »Webinar | Assisted Living: Was It Recession-Resistant After All? Where Are Values Now? | August 26, 2021
After census plunged 1,000 basis points across the country, has the assisted living recovery met expectations following the pandemic? Pent-up demand for this need-based product may have already exhausted itself, and rampant discounting would theoretically affect the cash flow recovery. Not only that, but the economic effects of the pandemic have hit communities differently, with “B” and “C” properties less financially flexible to meet rising wages, higher infection control costs and lower occupancy without a significant hit to their bottom lines. Investors have adapted to get deals done, propelling M&A activity to pre-pandemic heights this summer. But the properties they are targeting,... Read More »Seneca Place LLC: A Key Player in M&A Activity in LevinPro Database
Seneca Place LLC, a Medicare-licensed private skilled nursing facility, has been linked to a merger or acquisition as noted in the LevinPro M&A deal database. This facility, established at 3526 Dutchmans Ln, Louisville, KY 40205, was incorporated on July 25, 2019. LevinPro, renowned for tracking M&A activity across various healthcare sectors, from hospitals and home health to medical real estate and biopharma, featured the transaction involving Seneca Place LLC in its comprehensive deal database. This database is accessible to subscribers here. Historical data from LevinPro indicates tracking thousands of deals in the skilled nursing facility sector. For more detailed deal data and... Read More »Schedule a demo
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