Kindred Confirms Ventas Deal, Will Fully Leave SNF Biz
“Kindred Healthcare Inc. confirmed in July its previously announced plan to exit the skilled nursing facility industry,” McKnight’s reports. “Kindred announced that it had signed a definitive agreement with BM Eagle Holdings LLC, to sell its skilled nursing business for $700 million. BM Eagle Holdings is a joint venture headed by affiliates of BlueMountain Capital Management LLC. The Kindred sale includes 89 nursing centers and seven assisted living facilities with a total of more than 11,680 licensed beds across 18 states. Kindred officials reported that the skilled nursing exit will increase the provider’s annual cash flow by around $20 million to $30 million, and reduce its annual capital expenditures by $30 million.”
5 Keys to SNF Success
“Research published this month indicates post-acute-care at skilled nursing facilities could be a significant source of wasteful healthcare spending. The lead author of the peer-reviewed study, Massachusetts Institute of Technology Professor Joseph J. Doyle Jr., says a big next steps is to examine best practices at good SNFs,” according to Health Leaders media. One such good SNF is Salter Healthcare with excellent marks in medicare ratings, staff turnover, and finances. The organization identifies five essential elements for its success: invest in staffing, value human resources, stay small, manage your payer mix, and invest in technology.
How a Newly Opened Community Is Doing Senior Living Tech
Chicago-based senior living provider Pathway to Living, operating 24 communities across, Illinois, Kansas, Minnesota, and Wisconsin, is implementing proven, well-established technology in its newest communities, reports Senior Housing News. Their new community Grandbrier uses GPS resident location technology so that caregivers always know where to find residents. The memory care apartments include a motion sensor in the bathroom in case resident has fallen and needs assistance. Additionally, the memory care wing is a secure space, with a fob system that allows visitors to enter by ringing a bell and being admitted by a staff member. The community also has tech-enabled gym features and online record of residents’ involvement and health care appointments.
UCLA Health and AccentCare Create Joint Venture for Post-Acute Care Services
“AccentCare Inc. and UCLA Health are creating a jointly owned home health services agency, AccentCare UCLA Health, to serve patients in Los Angeles and surrounding communities,” according to the UCLA Newsroom. “Under the agreement, UCLA Health will be responsible for clinical oversight of post-acute services provided by the new joint venture agency, while AccentCare will provide day-to-day operational management, including patient intake, staffing and home health services such as physical therapy, medical social work and skilled nursing.”
Sunrise Senior Living Extends Brand With Sunrise Villa Communities
McLean, VA-based Sunrise Senior Living has rebranded seven of its urban California communities under the name of a new brand extension, Sunrise Villa, the company announced Monday [July 31],” McKnight’s Senior Living reports. “The new brand encompasses some of Sunrise’s newest acquisitions in Los Angeles, Placentia, Salinas, San Jose, San Ramon, Santa Rosa and Sonoma. Each community offers assisted living services and care for those in the early stages of memory loss. Sunrise Villa San Ramon also offers independent living services. The brand, according to the company, focuses on supporting the personal health and wellness goals of its residents. Among other amenities are indoor and outdoor communal spaces and family-style dining rooms where in-house chefs can prepare customized meals. Sunrise Villa communities also offer cleaning and laundry services, upon request. Sunrise operated 320 senior living communities in the United States, Canada and the United Kingdom as of July 1.”
United Church Homes Plans $18-Million Expansion in Beavercreek
“United Church Homes (UCH) will add up to 20 new jobs as part of a planned $18 million expansion project at Trinity Community in Beavercreek, a full-service retirement community offering independent living, assisted living, rehabilitation and long-term care services,” according to The Marion Star. “UCH, a national nonprofit, faith-based senior living provider based in Marion, will add two new, two-story buildings. Each will include 32 assisted living private and semi-private apartments, with 16 apartments dedicated to residents living with dementia and Alzheimer’s at Trinity, 3218 Indian Ripple Road, Beavercreek. In addition, eight existing cottage homes on campus will be replaced by 12 new two-bedroom and three-bedroom independent living cottage homes. The estimated cost of the multi-phased project is between $16 million to $18 million. Construction is expected to begin by spring 2018, and the project is projected to be completed in 15 to 18 months.”
Presbyterian Communities and Services Names New CEO
“Dallas-based Presbyterian Communities and Services, a senior continuing care and retirement community organization, has named Tim Mallad as its new CEO. He replaces Godwin Dixon, who recently retired,” reports D CEO Healthcare. “As CEO, Mallad will be responsible for the entities PC&S owns, including Presbyterian Village North, Grace Presbyterian Village, Faith Presbyterian Hospice, and the T. Boone Pickens Hospice and Palliative care center. He will also lead the PC&S Foundation. Mallad most recently served as president of PC&S, working on strategy, management, and organization for senior living experience.”
