Capital Senior Ventures Acquires Final Kindred Skilled Nursing Facility

Capital Senior Ventures made a bet on the Las Vegas skilled nursing market, acquiring a state-of-the-art skilled nursing facility in the city for an undisclosed price. Built in 2015, the facility is the last SNF owned by Kindred Healthcare. It consists of 160 beds, including 118 private and 21 semiprivate rooms. In addition to there […]

60 Seconds with Steve
60 Seconds with Steve

Senior Care Stocks Swoon….Again

The 2017 Trump rally has left senior care and healthcare REIT stocks behind. It looks like the so-called Trump stock market rally is continuing into 2018. Weirdly, several senior care stocks shot up in the first day of trading yesterday. Where were investors last year? Unfortunately, 2017 was about as bad as it gets for […]

60 Seconds with Steve
60 Seconds with Steve

Kindred Healthcare Sold and Dismembered

The Carlyle Group, TPG and Humana are buying Kindred Healthcare and splitting the company apart. I know I am supposed to be full of holiday cheer this time of year, but yesterday’s official announcement that Kindred Healthcare will be sold to Humana, TPG and The Carlyle Group, and dismembered for just $9 per share, well, that has just made me a […]

CareTrust REIT Keeps It Up

CareTrust REIT is heading closer and closer to the 200-facility mark, currently sitting at 181 properties in 23 states, as it continues to purchase senior care facilities across the country. Just last month, the REIT bought 13 skilled nursing facilities in Washington, Texas and Idaho, all formerly operated by affiliates of Kindred Healthcare. Now, CareTrust […]

KeyBank, Kindred and BlueMountain

BlueMountain Capital Management has been steadily working to close its large acquisition of 96 skilled nursing facilities from Kindred Healthcare (a deal valued at approximately $700 million). For its latest tranche of closings, the firm received $128 million in acquisition financing originated by Grant Saunders and Peter Trazzera of KeyBank Real Estate Capital’s Healthcare Mortgage […]

Kindred Healthcare Sells SNF Division To BlueMountain

Kindred Healthcare announced an agreement to sell 89 skilled nursing facilities with 11,308 beds and seven assisted living communities with 380 licensed beds for $700 million, or $59,890 per bed. In today’s world, that can be considered cheap, since it is nearly 40% below the average price paid per bed in 2016, but there is […]

60 Seconds with Steve
60 Seconds with Steve

Investors, and Congress, Ignore MedPAC

Since November’s crash, skilled nursing prices continue to rise. We sometimes wonder if the members of the Medicare Payment Advisory Commission, or MedPAC, ever get frustrated that their recommendations often go unheeded by Congress. This is certainly the case with recommendations for skilled nursing Medicare reimbursement. Last week, MedPAC recommended a Medicare rate freeze for […]