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CareTrust REIT expands operational footprint with 7 acquisitions
CareTrust REIT expands operational footprint with 7 acquisitions
By
Kathleen Steele Gaivin
Jun 05, 2023

San Clemente, CA-based CareTrust REIT is expanding its operational footprint and provider relationships with seven acquisitions, the real estate investment trust announced Friday.

Long-term care adds 9,000 jobs in May, Labor Department says
Long-term care adds 9,000 jobs in May, Labor Department says
By
Kathleen Steele Gaivin
Jun 05, 2023

Nursing and residential care facilities added 9,000 jobs in May, according to employment data released Friday by the Department of Labor’s Bureau of Labor Statistics.

‘New retirement reality’ undermines planning, survey finds
‘New retirement reality’ undermines planning, survey finds
By
Kathleen Steele Gaivin
Jun 05, 2023

Americans are facing a “new retirement reality” brought on by economic challenges such as inflation, market volatility, financial crises and fears of bank failures, according to a recently released…

Business briefs, June 5
Business briefs, June 5
By
Kathleen Steele Gaivin
Jun 05, 2023

CMS addresses barriers, disparities faced by LGBTQ+ community; university highlights research aimed at protecting LGBTQ+ long-term care residents … White House calls for strengthening healthcare response…

Actions & Transactions, June 5
Actions & Transactions, June 5
By
Kathleen Steele Gaivin
Jun 05, 2023

DC Housing Finance Agency issues $30.6M in tax exempt bonds for the construction of affordable senior housing … GreenFields of Geneva, IL, officially joins Lifespace Communities’ family of communities…

False Claims Act ruling by High Court a ‘clear win’ for government, expert says
False Claims Act ruling by High Court a ‘clear win’ for government, expert says
By
Kathleen Steele Gaivin
Jun 02, 2023

In a pair of consolidated cases, the Supreme Court unanimously ruled Thursday that liability in False Claims Act suits depends on whether the defendants believed that their claims were false, not on whether…

NLRA doesn’t shield strikers who don’t take ‘reasonable precautions’ to protect employer’s property: Supreme Court
NLRA doesn’t shield strikers who don’t take ‘reasonable precautions’ to protect employer’s…
By
Kathleen Steele Gaivin
Jun 02, 2023

Labor unions cannot use provisions of the National Labor Relations Act to try to shield themselves from taking “reasonable precautions” to protect an employer’s property from damage caused by a sudden…

Health services, education sector loses 29,000 jobs in May
Health services, education sector loses 29,000 jobs in May
By
Kathleen Steele Gaivin
Jun 02, 2023

Private-sector employment added 278,000 jobs last month, but the health services and education sector lost 29,000 jobs. That’s according to the May ADP National Employment Report produced by the ADP…

June 15 Online Expo sessions will share recruiting, retention strategies
June 15 Online Expo sessions will share recruiting, retention strategies
Jun 02, 2023

The June 15 McKnight’s Senior Living Online Expo will feature two sessions designed to help providers solve workforce issues. Earn CE credit!

Actions & Transactions, June 2
Actions & Transactions, June 2
By
Kathleen Steele Gaivin
Jun 02, 2023

SLIB negotiates sale of independent living community in Reno, NV … Braemar Living, McAlpine Contracting begin construction of $54M Montebello, NY, assisted living community … ProMedica plans to close…

New Eskaton report blames SNFs for $28 million net loss in 2022
New Eskaton report blames SNFs for $28 million net loss in 2022
By
Kathleen Steele Gaivin
Jun 01, 2023

Eskaton ended 2022 with a $28 million net loss, and its skilled nursing properties largely are responsible, according to an independently audited financial report dated May 16.

88 percent of long-term care nurses see racism, discrimination from those they serve: survey
88 percent of long-term care nurses see racism, discrimination from those they serve: survey
By
Kathleen Steele Gaivin
Jun 01, 2023

Eighty-eight percent of nurses working in nursing homes and residential care facilities and in home healthcare have experienced racism or discrimination from residents, patients or clients, according to…

Meadowood rebrands, drops ‘senior living’ from name
Meadowood rebrands, drops ‘senior living’ from name
By
Kathleen Steele Gaivin
Jun 01, 2023

Meadowood, a continuing care retirement / life plan community in Worcester Township, PA, has rebranded, dropping “senior living” from its name, logo and signage, the provider announced Monday.

Business briefs, June 1
Business briefs, June 1
By
Kathleen Steele Gaivin
Jun 01, 2023

CMS issues details on healthcare worker vaccine mandate’s end … Bill aiming to stabilize residential long-term care struck down by governor … Colorado begins automatic payroll deductions for…

Actions & Transactions, June 1
Actions & Transactions, June 1
By
Kathleen Steele Gaivin
Jun 01, 2023

Capital Funding Group closes $207M for refinancing of 10 SNFs across South Atlantic … $6.2M senior living community opens in South Puget Sound, WA … BWE provides $4.5M loan for Villa Rica, GA, affordable…

Noncompete agreements violate National Labor Relations Act, NLRB general counsel says
Noncompete agreements violate National Labor Relations Act, NLRB general counsel says
By
Kathleen Steele Gaivin
May 31, 2023

An estimated 38% of workers have been subject to a noncompete agreement at some time in their careers, according to US Government Accountability Office, but the agreements are “overly broad” and violate…

Americans refocusing on future amid decline in financial readiness for retirement: analysis
Americans refocusing on future amid decline in financial readiness for retirement: analysis
By
Kathleen Steele Gaivin
May 31, 2023

Although financial readiness for retirement had been waning in recent years, Americans appear to be refocusing their efforts on saving for the future, according to Fidelity Investments’ Retirement Savings…

State bills would enable older adults to stay, age in place in their homes
State bills would enable older adults to stay, age in place in their homes
By
Kathleen Steele Gaivin
May 31, 2023

New Jersey Assembly Speaker Craig J. Coughlin (D) last week introduced legislation that would create a new property tax credit program called StayNJ, which he said is meant to make it more affordable for…

Business briefs, May 31
Business briefs, May 31
By
Kathleen Steele Gaivin
May 31, 2023

Debt ceiling deal may limit new health agency spending, jumpstart fraud efforts … Iowa reforms tort law, nursing home ownership rules … North Central Michigan adds practical nurse certification program

Actions & Transactions, May 31
Actions & Transactions, May 31
By
Kathleen Steele Gaivin
May 31, 2023

JP Morgan maintains coverage of Ventas with neutral recommendation … Ziegler advises Marquee Capital on sale of Mequon, WI, senior living community … Convivial Life plans expansion, renovation of Venice,…

OPI closes $30.7 million mortgage loan for Diversified Healthcare Trust merger
OPI closes $30.7 million mortgage loan for Diversified Healthcare Trust merger
By
Kathleen Steele Gaivin
May 30, 2023

Newton, MA-based Office Properties Income Trust has begun implementing its financing strategy for its merger with Diversified Healthcare Trust, the real estate investment trust announced Friday. OPI has…

Senior living asking rates hit near-record highs year over year: NIC
Senior living asking rates hit near-record highs year over year: NIC
By
Kathleen Steele Gaivin
May 30, 2023

Growth for asking rates for independent living, assisted living and memory care each hit “near record highs” in the first quarter, National Investment Center for Seniors Housing & Care Chief Economist…

Not-for-profits need ‘disciplined philanthropy approach,’ experts say
Not-for-profits need ‘disciplined philanthropy approach,’ experts say
By
Kathleen Steele Gaivin
May 30, 2023

Not-for-profit senior living and care organizations must develop a “disciplined philanthropy approach,” according to a special report from specialty investment bank Ziegler and Marts & Lundy’s.

Business briefs, May 30
Business briefs, May 30
By
Kathleen Steele Gaivin
May 30, 2023

HUD commits to “rooting out” antisemitism, secretary says … Staff deaths, other elements to be removed from CDC data requirements … SoftWriters partners with Virtue Technologies on pharmacy software…

Actions & Transactions, May 30
Actions & Transactions, May 30
By
Kathleen Steele Gaivin
May 30, 2023

Ziegler closes $31.96M financing for EveryAge Obligated Group … Braemar Partners begins preconstruction work on senior living community in Somerset County, NJ … Ground broken for independent living…

Nursing home, home health fast-growing health spending categories
Nursing home, home health fast-growing health spending categories
By
Kathleen Steele Gaivin
May 26, 2023

Healthcare prices increased in April by 3.4% year over year despite slowing inflation, representing the fastest overall healthcare price growth since December 2007. That’s according to Altarum’s monthly…

Retired women more likely to live in poverty than retired men: report
Retired women more likely to live in poverty than retired men: report
By
Kathleen Steele Gaivin
May 26, 2023

Generally speaking, women are more likely to live in poverty in retirement than are men, according to an issue brief released this month from the Women’s Bureau of the Department of Labor. Additionally,…

US unemployment claims drop to 10-week low after a state adjusts for fraud
US unemployment claims drop to 10-week low after a state adjusts for fraud
By
Kathleen Steele Gaivin
May 26, 2023

The number of national unemployment claims reported earlier this month was significantly lower than originally reported by the Department of Labor following a fraud investigation by the Massachusetts Department…

Business briefs, May 26
Business briefs, May 26
By
Kathleen Steele Gaivin
May 26, 2023

Benchmark’s mental wellness program leads to improved productivity … 4 healthcare technologies senior living should prioritize in the coming years … Eden Prairie, MN, office building could see new…

SNF valuations high despite headwinds, expert says
SNF valuations high despite headwinds, expert says
By
Kathleen Steele Gaivin
May 25, 2023

Despite “a tumultuous couple of years,” skilled nursing valuations are high, and acceleration is expected, Evans Senior Investments Director Kris Lowes said Wednesday.

Uptick in demand means opportunities for senior living investors: report
Uptick in demand means opportunities for senior living investors: report
By
Kathleen Steele Gaivin
May 25, 2023

The long-term outlook for the US senior living market is positive, according to Berkadia’s US Seniors Housing Commentary for Spring 2023.

Dignity Act would provide pathway to citizenship for undocumented workers
Dignity Act would provide pathway to citizenship for undocumented workers
By
Kathleen Steele Gaivin
May 25, 2023

The Dignity Act is an attempt to fix flaws in the current immigration system, according to Reps. Veronica Escobar (D-TX) and Maria Elvira Salazar (R-FL), who introduced it Tuesday. It could be “one potential…

Business briefs, May 25
Business briefs, May 25
By
Kathleen Steele Gaivin
May 25, 2023

Labor Department announces $12M+ in grant funding for worker safety, health training … Omega Healthcare Investors: Margin performance driven by consistent revenue streams, triple-net leases and conservative…

Actions & Transactions, May 25
Actions & Transactions, May 25
By
Kathleen Steele Gaivin
May 25, 2023

Cushman & Wakefield arranges, Greystone closes $14M refinancing for Snohomish, WA, project … Lument closes $14.7M bridge loan to refinance Portland, OR, AL community, $10.7M loan for acquisition of Oklahoma…

Proposed merger ‘best path forward’ for DHC, REIT says, but shareholder group disagrees
Proposed merger ‘best path forward’ for DHC, REIT says, but shareholder group disagrees
By
Kathleen Steele Gaivin
May 24, 2023

The “inconsistent” performance of the senior housing properties in Diversified Healthcare Trust’s portfolio is one reason that the Newton, MA-based real estate investment trust’s previously announced…

7 percent of long-term care municipal bonds are in default: report
7 percent of long-term care municipal bonds are in default: report
By
Kathleen Steele Gaivin
May 24, 2023

Seven percent of senior living and care-related municipal bonds are in default, compared with a default rate of less than 1% for all state and local government debt, Bloomberg reported Monday.

Senior housing market is ‘tail wagging the dog,’ expert says
Senior housing market is ‘tail wagging the dog,’ expert says
By
Kathleen Steele Gaivin
May 24, 2023

“For senior housing, I would characterize the market as the tail wagging the dog,” Aron Will, vice chairman of CBRE, said Tuesday during a National Investment Center for Seniors Housing & Care leadership…

Business briefs, May 24
Business briefs, May 24
By
Kathleen Steele Gaivin
May 24, 2023

CMS extends temporary telehealth coverage for home health agencies  … Legislation would mandate criminal background checks for SNF workers … FTC moves to strengthen health data breach notification…

Actions & Transactions, May 24
Actions & Transactions, May 24
By
Kathleen Steele Gaivin
May 24, 2023

DA Davidson, Petros PACE Finance close $160M C-PACE financing deal … Capital Funding Group closes $10.3M for refinancing of Arizona SNF … Construction begins on Ryan’s first senior living project…

Personal care and service occupations have highest percentage of workers with disabilities
Personal care and service occupations have highest percentage of workers with disabilities
By
Kathleen Steele Gaivin
May 23, 2023

Personal care and service occupations have the highest percentage of workers reporting having a disability, at 19.4%, according to the results of a new study of various occupations conducted by US Centers…