DALLAS — Sonida Senior Living Inc. (NYSE: SNDA), a Dallas-based owner-operator of communities and services for seniors, has entered into loan modification agreements with Fannie Mae covering all 37 of its communities mortgaged through the government-sponsored entity. On June 29, Sonida entered into a comprehensive forbearance agreement with Fannie Mae as the first of a two-step process to modify all existing mortgage agreements with Fannie Mae. The modifications finalize the comprehensive restructuring. The terms of the Fannie Mae loan modifications were consistent with those set forth in the forbearance agreement. …
LAS VEGAS — ZNest.com, a Las Vegas-based seniors housing referral platform. has acquired Odom Senior Care, which was launched by two-time NBA champion and former reality TV star Lamar Odom earlier this year to provide referral services for senior care. As part of the deal, Odom will assume the position of chief creative officer at ZNest.com. Odom embarked on a mission to demystify the complex world of senior living and care after recognizing the challenges families face when searching for quality, affordable care solutions. Inspired by Odom’s 96-year-old grandmother, Odom …
VICTORIA, Texas — Regency Integrated Health Services has rebranded its Texas-based portfolio of 63 skilled nursing facilities as Wellsential Health properties. The properties are all being transitioned to a nonprofit model as part of the change. Wellsential Health has more than 7,000 team members and 6,000 patients and residents. The organization claims it is now the largest family of nonprofit skilled nursing facilities in Texas.
NEWTON, Mass. — Diversified Healthcare Trust (NASDAQ: DHC) has made changes to its Board of Trustees and executive leadership team, amonth other actions, to address its near-term capital needs, including DHC’s pending debt maturities. Phyllis Hollis has been appointed as an independent trustee of the DHC board. She previously worked as an executive at an investment bank and has extensive experience in finance and executing capital markets transactions. She will serve on DHC’s audit committee and compensation committee, which she will chair. In addition, DHC has appointed Matthew Brown as …
ATLANTA — The Senior Living Transformation Co. (SLTC) has acquired a 113-unit assisted living and memory care community in partnership with Omega Healthcare Investors (NYSE: OHI). The Senior Living Transformation Center, known as The Rivers at Maryland Farms, is the first acquisition and demonstration pilot for the newly formed partnership. The objective of the partnership is to create both an innovation center for technology and data solutions for the seniors housing industry and to demonstrate a new model of care within seniors housing. SLTC was recently formed by leading senior …
KANSAS CITY, Mo. — Serviam Care Network, a Kansas City-based technology company and network of senior care providers, has partnered with WelcomeHome Software to drive its mission of expanding its efforts to bring value-based care services to its members. “In the next decade, senior living will move to a value-based care system,” states a press release from the company. “Serviam is committed to helping senior living operators access the right tools, systems and revenue streams to embrace and succeed under this care delivery model. This strategic shift to fully focus …
CHICAGO — Andrew Agins and Justin Dickinson have announced the launch of Evolve Senior Living, a Chicago-based operator. The two partners and co-founders both worked at Anthology Senior Living, a Chicago-based operator and subsidiary of CA Senior Living Co. “For the last two decades, we have been not only owners of seniors housing communities but also worked in various capacities in the sector including development, acquisitions, asset management, operations and technology,” the pair said in a press release. “We recognize the challenges in the industry. We also understand the strategies …
EAGLE, Idaho — The Pennant Group Inc. (NASDAQ: PNTG), the parent company of the Pennant group of affiliated home health, hospice, home care and senior living companies, has acquired Valor HospiceCare, which provides skilled hospice services in Tucson, Green Valley, and Sierra Vista, Arizona. “We are pleased to expand our operations in the state of Arizona, complementing our Emblem Hospice and Agape Hospice agencies in Tucson and Green Valley, and expanding into Sierra Vista with Valor HospiceCare,” says Brent Guerisoli, CEO of Pennant.
NEWTON, Mass. — Diversified Healthcare Trust (NASDAQ: DHC) and Office Properties Income Trust (NASDAQ: OPI) have mutually agreed to terminate their previously announced merger agreement dated April 11, 2023, pursuant to which OPI had agreed to acquire all outstanding common shares of DHC. The mutual termination was approved by the respective special committees and boards of trustees of OPI and DHC. The parties have agreed that each company will bear its costs and expenses in connection with the terminated transaction pursuant to the terms of the merger agreement, and that neither party …
NEWPORT BEACH, Calif. — Insight Living and Smilefish have announced a strategic partnership aimed at using artificial intelligence (AI) to drive innovation in senior care. By jointly developing AI-anchored technology, the companies aim to accelerate care innovation in long-term care and residential settings. Smilefish is a machine learning and data science provider focused on accelerating digital transformation, automation and enablement of AI application development for clients and partners. Smilefish has software and data management experience for a range of healthcare and life sciences partners. Insight Living believes senior living operators …