Making Waves in LTC: Q1 2023 Acquisitions and Change of Ownerships

In recent years, the cost of temporary agency labor, Medicaid rebasing, and ongoing staffing shortages have posed significant challenges for many long-term care operators. With inadequate federal funding levels and accruing expenses, some organizations are reducing their exposure to skilled nursing while top-performing operators are stepping in and expanding their footprint. 

Let’s review how the present economic climate continues to fuel a surge in deals across the country.

Tough Financial Climate Leads To Actionable LTC Deals Across The Country

California-based CareTrust REIT recently expanded into new markets by adding two skilled nursing facilities (SNFs) in Texas and Kansas to its portfolio. According to EVP James Callister, these acquisitions align with CareTrust REIT’s overall strategy of investing in well-run facilities with strong operators and good reputations in their communities. 

Recently, Blueprint Healthcare Real Estate Advisors, an Illinois-based commercial real estate agency, identified a Nevada-based operator to acquire an expansive 12-property portfolio in Utah that contains 1,275 beds dedicated to skilled nursing. 

Vivage Senior Living and Beecan Health Colorado announced a merger that would combine their resources under a single network as Vivage-Beecan. Together, the companies will operate 42 skilled nursing communities and nearly 3,600 licensed beds that span Colorado. As part of this unified network of care, Colorado residents can access an array of services including post-acute care, ventilator support, dialysis services, memory care, and behavioral health. 

Texas-based Creative Solutions in Healthcare (CSNHC) is continuing to expand its regional operations with a series of acquisitions across the state. This expansion has been fueled by optimism around increasing Medicaid rates in the state, which has given CSNHC reason to pursue an ever-growing portfolio of skilled nursing assets. 20 facilities were added last year alone and 10 more are anticipated for early 2023.

CSNHC’s most recent acquisitions consisted of two Texas-based skilled nursing facilities previously owned by Southwest LTC, as well as eight other properties acquired from Tennessee-based Diversicare Healthcare Services. With ongoing staffing shortages fueling a scarcity of nursing home beds, many organizations have been left with no choice but to divest from their positions in skilled nursing. Others, however, remain eager to expand despite the short-term economic challenges facing the industry.

Acquisition and Underwriting Services from Experts in Long-Term Care

Amidst the current financial climate, you may find it challenging to identify profitable acquisition opportunities for your organization. At LTC Ally, our Financial Advisory Department provides lenders and investors with adept guidance, precise projections, and accurate valuations.

Our advanced technology and industry expertise give our clients data-driven insights to pinpoint potential opportunities that meet their growth goals. For unparalleled expertise and complete support throughout your next change of ownership, contact our experienced advisors today.

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Founded in 2006, LTC Ally serves the long-term care industry with an unbound dedication to improving back office and financial operations. With a mission to reduce burdens and increase peace of mind, LTC Ally set out to revolutionize the way facilities handle their revenue cycle management. With a full suite of financial, case management, and contracting solutions for healthcare providers, LTC Ally is your partner in long-term care and skilled nursing.

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