Nursing Home - McKnight's Senior Living

Nursing Home

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Private-equity group’s buying spree continues, despite pandemic

Over the past four years, New Jersey-based Portopiccolo Group has been building a nursing-home portfolio rivaling some of the nation’s largest chains. The firm acquired its first skilled nursing facility in 2016, and today it owns or operates approximately 100 facilities under dozens of different names, including Accordius, Pelican Health, and Orchid Cove, according to an analysis in Barron’s Thursday. The majority of these facilities, the report noted, have only come under Portopiccolo’s ownership 2019.

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Nursing homes previously sued for Medicare fraud received hundreds of millions in coronavirus relief funds: Washington Post

For-profit nursing home operators that have faced accusations of Medicare fraud and kickbacks in recent years received more than $300 million in coronavirus relief payments, according to a Washington Post analysis released Tuesday. The allegations include putting elderly residents into unnecessary therapy services and delaying patients’ release to reap higher Medicare payments.

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