Earnings wrap: NHI, Diversicare

REIT's FFO up 32%; long-term care provider sees record revenues
Nov 6, 2015 7:41 AM

AmSurg, Diversicare buy in Arizona, Kentucky

Hours after abandoning its audacious bid to buy TeamHealth, AmSurg has announced that its physician services division is acquiring a large anesthesiology practice in Phoenix. Valley Anesthesiology & Pain Consultants is home to about 280 doctors and allied care providers and works at 21 hospitals, 25 surgery centers and a number of doctors' offices in the Phoenix market.

Also still on the M&A path is long-term care provider Diversicare. The Brentwood-based company has paid $3.9 million for a 60-bed skilled nursing center in Fulton, Kentucky. The deal grows Diversicare's holdings to 12 in Kentucky and 55 in total.

Nov 3, 2015 8:43 AM

Earnings wrap: Brookdale, Diversicare, Cumberland

Senior living facility company misses; acquisitions boost skilled nursing provider
May 8, 2015 6:53 AM

Diversicare swings to Q4 profit

Same-store facilities revenue climbs 7%
Mar 6, 2015 7:34 AM

Brookdale announces last round of Emeritus layoffs

Brookdale Senior Living has cut another 41 former employees of Emeritus Senior Living, reports the Seattle Times, the final step in reducing Emeritus' staff post-merger.

The layoffs, effective in April, are the last of the 250 Brookdale said in July it would implement as part of its $2.8 billion acquisition of Emeritus.

About 50 former Emeritus employees will stay in Seattle, while 15 will be relocated to Brentwood or to the company's Milwaukee office.

Despite the Seattle cuts, Brookdale continually bolstered its corporate staff last year, announcing in May that 200 jobs would be added to the existing 400 in Milwaukee through 2016. The company also announced in June it would add 162 jobs over five years to the 375 employees it then had in Brentwood.

Shares of Brookdale (Ticker: BKD) were down 2 percent to $36.06 Monday afternoon. In the last three months, they're up 11 percent.

Feb 10, 2015 7:00 AM

Diversicare acquires two facilities

Brentwood company now operates 54 long-term care centers
Feb 2, 2015 11:30 AM

NaviHealth announces post-acute partnership with skilled nursing provider

Post-acute care analytics company naviHealth has announced a partnership with Golden Living, a national skilled nursing company.

Through the deal, terms of which were not disclosed in a release, Nashville-based naviHealth and Golden Living will collaborate on clinical initiatives to enhance post-acute care. Using naviHealth's analytics platform, the companies will share data and coordinate on emergency room diversion and readmission programs.

"Through this collaboration with Golden Living, naviHealth continues to positively impact post-acute care on a large scale by implementing innovative solutions that enhance outcomes while driving down costs," Clay Richards, naviHealth president CEO, said in a release. "Our partnership with Golden Living to deliver comprehensive care management services to its eligible skilled nursing facility providers is hopefully the first of many such alliances we can forge to improve the delivery and management of post-acute care across the country."

Dec 11, 2014 12:04 PM

NHC to break ground on Bellevue facility

Murfreesboro-based National HealthCare Corp. is scheduled to break ground today on a new assisted living and skilled nursing center in Bellevue.

NHC Place at the Trace represents a $38 million investment by the company, which operates nine other affiliated centers in the greater Nashville area. The new facility will create 200 jobs and is expected to open in the spring of 2016. It will to be a three-story, 135,000-square-foot center with 172 beds. Eighty-two of those beds will be for assisted living, including memory care patients.

"This area of the county has been reflective of Nashville's overall growth," Gerald Coggin, senior vice president of corporate relations, said in a release. "With that growth comes the need for broader health care services for our senior population, including rehabilitation services and assisted living. We designed NHC Place at the Trace to provide those services and to do so with the high level of quality care and innovative services for which NHC is well known."

Oct 21, 2014 9:45 AM

CHS, Diversicare announce acquisitions

Community Health System has finalized its acquisition of Natchez Regional Medical Center in Natchez, Mississippi.

Terms of the sale were not disclosed in a release.

The 179-bed hospital filed for bankruptcy in March of this year, and CHS signed a letter of intent to buy the medical center in April. A separate subsidiary of CHS owns and operates the nearby Natchez Community Hospital, which was previously owned by Hospital Management Associates. The Franklin-based company plans to eventually consolidate the two hospitals.

"We see considerable opportunity to support the physicians and employees of these hospitals as they work together to create a sustainable, successful health care system," Wayne Smith, CHS chairman and CEO, said in the release. "The combination of these facilities ultimately will result in an operationally strong hospital, a more coordinated approach to patient care and enhanced access to a wide array of quality health services for local residents."

Shares of CHS (Ticker: CYH) were down 2.5 percent Tuesday afternoon to $53.37. Year to date, shares are up 35 percent.

Additionally, Diversicare Healthcare Services has assumed operations of a 62-bed nursing center in Greenville, Kentucky, which will be rebranded as Diversicare of Greenville.

"We are pleased to announce our latest expansion to our current operating footprint in the state of Kentucky," Kelly Gill, Diversicare CEO, said in a release. "As we continue to pursue strategic growth to our portfolio, we welcome the opportunity to partner with quality caregivers and administrators such as the team in Greenville. We look forward to sharing the core values and mission that are at the heart of everything we do at Diversicare."

Shares of Diversicare (Ticker: DVCR) were down 3 percent to $10.40. Year to date, they're up 123 percent.

Oct 2, 2014 6:59 AM

Earnings wrap: Emdeon, Diversicare

Revenue cycle manager grows top line 10% but takes big impairment charge; skilled nursing provider stays on strong growth track
Aug 8, 2014 6:53 AM