Tryko Partners Picks Up HCR ManorCare Facility

Quality Care Properties divested one of its HCR ManorCare-operated skilled nursing facilities in New Jersey, with Tryko Partners stepping in as the buyer. Built in 1974, the 106-bed facility is located in New Providence (Newark MSA), which will complement Tryko’s existing strong presence in central and northern New Jersey. The facility is located close to […]

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 […]

Update On Consulate Healthcare’s Legal Affair

In major news for the skilled nursing industry, the $347.86 million judgment against affiliates of Consulate Healthcare was vacated in its entirety by the United States District Court, Middle District of Florida earlier this week. This was basically a Medicare “fraud” case. The judge ruled that the plaintiff’s assertions that a “handful of paperwork defects […]

National Healthcare Corporation Holding Its Own

With all the media attention on financial problems within the skilled nursing sector (and we are guilty of this as well), there are some companies which are doing okay in this environment. One is National HealthCare Corporation, a publicly traded company that keeps very quiet but, with a market cap of $989 million, is one […]

Quality Care Properties and HCR ManorCare One Step Closer

While the financial deterioration of HCR ManorCare continues, at least there was some good news in the past few weeks that may result in an agreement between it and its landlord, Quality Care Properties. Apparently, the DOJ has filed a notice to dismiss its case against HCRMC which was filed in April 2015 relating to […]

Legacy Tenant Capital Structures Create REIT Turmoil

It all started when HCP, Inc. completed a series of rent negotiations with HCR ManorCare, but to no avail. It just wasn’t enough for a long-term solution, and they ended up spinning the HCRMC portfolio into a new entity (Quality Care Properties) that was supposed to be a REIT but may end up not being […]

Quality Care Properties Seeking Receiver for HCR ManorCare

Quality Care Properties is taking its issues with HCR ManorCare (the lack of full rent payments) one step further. Late yesterday QCP announced  that it is initiating a legal process to appoint an independent receiver to oversee the operation of the skilled nursing and assisted living properties that it owns which are leased to HCRMC. […]