- California Governor Gavin Newsom has vetoed a bill that was designed to restrict private equity and hedge fund investments in the health care industry. Governor Newsom said the California Office of Health Care Affordability has sufficient authority to regulate health care transactions.
- Brookdale Senior Living announced plans to acquire a portfolio of 41 senior housing communities for $610M.
- ABCM has sold its ownership interest in 29 skilled nursing and assisted living facilities in Iowa for $85M. This is the largest skilled nursing transaction recorded in Iowa.
- American Health Care REIT has acquired the remaining ownership in Trilogy REIT Holdings, LLC for $258M. The entity holds an interest in Trilogy Health Services, the operator of a portfolio of senior housing and skilled nursing communities.
- On Thursday, October 10, Hall Render will host a webinar titled, “Navigating the Shifting Landscape of Health Care Transactions.” The webinar will cover transaction structures currently prevalent in the health care industry. Sign up here!
- The number of new ambulatory surgery centers (“ASCs”) in the Southeastern part of the country is expected to grow as a result of changes in Certificate of Need (“CON”) laws. Georgia, North Carolina, South Carolina and Tennessee have or will phase out CON requirements over the next few years to permit ASCs without CON approval.
- The term “Medical Outpatient Building” in lieu of “Medical Office Building” is the preferred terminology that most health care real estate investors use when referring to clinical outpatient real estate according to a new Revista survey.
- CVS Health Corp. has informed employees that it plans to lay off 2,900 corporate workers. The cuts are part of a plan announced in August to cut corporate expenses by $2B.
- Baptist Health South Florida received approval to open a new $500M hospital in Sunrise, Florida. Plans include a seven-story hospital tower with 340,303 sf of space and 100 beds. This will be Baptist’s first hospital in Broward County.
- Franciscan Health broke ground on a new cancer center in Crown Point, Indiana. The project is being funded by a $30M donation from the Dean and Barbara White Family Foundation.
For more information on real estate matters, please contact:
- Andrew Dick at adick@hallrender.com or (317) 977-1491;
- Joel Swider at jswider@hallrender.com or (317) 429-3638; or
- Your primary Hall Render contact.
Special thanks to Olivia Allison, undergraduate intern, for her assistance in the preparation of this article.
Hall Render blog posts and articles are intended for informational purposes only. For ethical reasons, Hall Render attorneys cannot give legal advice outside of an attorney-client relationship.
