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A Much Rejuvenated Nursing Home Sector

Published Friday, September 01, 2006

In the late 1990s, a double dose of trouble nearly sunk the nursing home industry. The federal government's Balanced Budget Act of 1997 gutted the Medicare reimbursement formula and cut into skilled nursing revenues. At the same time, plaintiff attorneys took aim at the industry for failing to roll patients over in bed often enough and providing other shoddy treatment, particularly in Florida and other states that possessed lax litigation laws. The result: Longtime nursing home behemoths Integrated Health Services Inc., Mariner Post-Acute, Vencor and others sought bankruptcy or sold off their assets. But that's when private equity ...

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