CHARLESTON, W.V. — Lument Securities has advised Stonerise Healthcare, a skilled nursing and transitional care provider based in Charleston, on the company’s sale. The buyer was a group consisting of a New York-based real estate investment firm and its operating partner, CommuniCare Health Services. Stonerise was founded in 2009. Its integrated network of care includes transitional and skilled nursing care, therapy, home health and hospice services, which it provides throughout West Virginia and in Southeast Ohio. The skilled nursing portfolio features 18 owned and operated facilities across West Virginia totaling …
Company News
COSTA MESA, Calif. — Ziegler has advised CareConnectMD (CCMD), a Costa Mesa-based provider of primary care coordination services tailored to meet the needs of complex Medicare participants, on its $25 million financing round led by Minneapolis-based TT Capital Partners (TTCP). CareConnectMD will leverage the investment to deepen its presence in California, Ohio and Texas and expand into other markets while enhancing its technology platform to scale and streamline care delivery. CCMD’s California-based medical group contracts with managed care and insurance plans to provide comprehensive primary and palliative care to high-risk …
Unitranche loan programs blend senior and junior debt pricing and terms into a single, first lien debt facility — a single financing that replaces the multitranche debt approach. The unitranche arrangement provides the benefits of a fully levered mezzanine debt structure, while the single financing structure streamlines the agreement and costs for borrowers. KeyBank Real Estate Capital, the commercial real estate business unit of KeyCorp, recently partnered with Welltower to establish a unitranche loan program with $750 million in lending capacity for seniors housing and skilled nursing facilities. Industry expertise …
SAN CLEMENTE, Calif. — Greg Stapley has resigned as the executive chair of the CareTrust REIT (NYSE: CTRE) board of directors. Diana Laing was promoted from lead independent director to replace Stapley’s position with the San Clemente-based seniors housing REIT. CEO David Sedgwick was appointed as a director. Stapley’s resignation from the board follows his relinquishment of the chief executive role in January. As previously announced, Stapley and his wife have accepted a full-time international volunteer assignment for The Church of Jesus Christ of Latter-Day Saints.
CINCINNATTI — Omnicare, a CVS Health company based in Cincinnati that provides pharmacy services for seniors housing communities, has appointed Ahmed Hassan as its president. Previously, Hassan served as the vice president and general manager of PBM Care Management, overseeing operations, clinical excellence, product development, sales and account management for Caremark’s Care Management portfolio, including Accordant, Transform Diabetes Care and Health Advisor. Before joining CVS Health in 2015, Hassan held various leadership positions across a range of healthcare and technology organizations in strategy, operations and product management. This experience includes …
NEW YORK CITY — Greystone, a New York-based national real estate finance company that serves the seniors housing industry, has appointed Hafize Gaye Erkan as its chief executive officer (CEO). Erkan’s executive responsibilities will commence in September 2022. She will report to Steve Rosenberg, the former CEO who will continue to serve as the Executive Chairman of the Board. Erkan most recently served as co-CEO, president and board member at publicly traded First Republic Bank, where she helped deliver growth in wealth management, deposits and total assets. Prior to joining …
NEWTON, Mass. — AlerisLife Inc. (NASDAQ: ALR), a Newton-based operator, has appointed Jeff Leer as president and chief executive officer. Leer was already serving in both roles on an interim basis. He will also continue to serve as chief financial officer of ALR until a replacement is appointed. ALR also announced that the healthcare consulting arm of Alvarez & Marsal (A&M) concluded a comprehensive operational review and made recommendations to the board of directors. The recommendations made by A&M include cost reductions and a corporate reorganization that is designed to …
MCLEAN, Va. — Sunrise Senior Living, a McLean-based operator, has appointed Jeff Kuster to its board of directors. Julie Dobson, who has served on Sunrise’s board since 2018, was also named chair. She succeeds Jeff Lozon, who is retiring and rotating off the Sunrise board after seven years of service. Kuster has more than 30 years of global leadership and brand experience and currently serves as chief executive officer at Canyon Ranch, a wellness guidance company with resorts and retreats where guests are guided by experts across a range of …
Communication Platform VoiceFriend Acquires Caremerge’s Engagement and Wellness Business, Rebrands to Icon
by Jeff Shaw
NEWTON, Mass. — VoiceFriend, a Newton-based, HIPAA-compliant, cloud-based communication platform for senior care organizations, has acquired Caremerge’s family and resident engagement business. The combined company will be known as Icon and will couple VoiceFriend’s communication technology capabilities with Caremerge’s engagement platform. The acquisition enables VoiceFriend to continue its strategic growth and expand its suite of offerings to include family and resident engagement and wellness applications. The deal will also enable VoiceFriend to introduce Caremerge’s solution to its footprint of over 1,200 communities and to the skilled nursing market. Caremerge will …
EAGLE, Idaho — The Pennant Group Inc. (NASDAQ: PNTG), the parent company of operating subsidiaries that provide home health, hospice and senior living services, has appointed Brent Guerisoli, current president of Pennant, to succeed Daniel Walker as Chief Executive. Walker will continue to serve as chairman of Pennant’s board of directors. “After careful reflection, I have made the decision to reduce my professional obligations in consideration of family circumstances, to pursue charitable causes unrelated to Pennant or its businesses,” says Walker. Since joining the organization in 2012, Guerisoli has directed …