Is this a fragmented industry?

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Yes. The top 10 nursing home companies (by bed count) accounted for about 15.5 percent of beds. In fact, the largest chains have divested beds faster than the overall sector in recent years.

States with high liability costs have led to many larger chains selling facilities those states.

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In Focus

Dec. 13

A giving season

Nationwide

Senior living communities throughout the country are proving that the end-of-year holidays are a time of giving.