McKnight’s Senior Living August 15, 2022
Even before the pandemic, long-term care operators were looking to affiliate, merge or sell their communities in large numbers. The trend dates back to at least 2010, according to specialty investment bank Ziegler.
Approximately one-fourth of the total number of transitions were situations in which the new company was another not-for-profit organization. The percentage of not-for-profits that have ceased operations altogether has been increasing, especially “freestanding nursing homes, communities with heavy nursing exposure and those with very dated physical plant issues,” Lisa McCracken, Ziegler’s director of senior living research and development, wrote in last week’s Senior Living Finance Z-News newsletter. Seventy percent of not-for-profit closures since 2010 have been freestanding nursing facilities, she said.
“Since the year 2010, nearly 1,100...
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