Capital Senior Living - McKnight's Senior Living

Capital Senior Living

dome of Capitol Building, exterior shot

‘Misleading’ report tied to federal bill with COVID-19-related requirements for assisted living, industry group says

Assisted living communities would be required to report confirmed or suspected cases of COVID-19 to federal, state and local health officials, as well as to residents and their families — and would have one day to do it — under legislation announced by two U.S. senators and one congresswoman. The report on which the bill is based, however, “falls short” and is “misleading,” according to one association representing operators.

Business briefs for Tuesday, April 14

Capital Senior Living files registration statement for issuance of up to $150 million in securities … First quarter senior living M&A activity falls to lowest in two years … Vincent Development receives approval to develop Minnesota senior living facilityn … Holland Construction building $39 million seniors housing facility near St. Louis

woman pushing rollator walking down corridor

Pandemic likely to worsen financial woes for assisted living operators

Assisted living facilities have come under increased scrutiny during the COVID-19 pandemic. Challenges include deepening financial pressures, sicker residents, limited oversight and too few employees. Home to more than 800,000 people nationwide, the facilities now face a crisis that could force some operators into bankruptcy, roil the industry and even close some facilities, Kaiser Health News reported Thursday.

Capital Senior Living suspends director equity awards

In light of the current economic conditions, the Board of Directors for Capital Senior Living on Monday approved a temporary suspension of equity awards to any director or officer of the company. The Compensation Committee also reported that it would not increase the annual base salaries of Capital Senior Living’s executive officers for 2020.

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