Lument’s Head of M&A Laca Wong-Hammond contributed to a McKnight’s Long-Term Care article about the growing trend of hospitals and health systems accelerating their departure from the skilled nursing and senior care sectors.
“COVID-19 amplified losses on what had been marginally profitable businesses, by accelerating the velocity of rising operating costs,” Wong-Hammond said. “In essence, if another owner can improve margins, the only question left for the health system is referral privileges. Once that is ensured, it’s only logical to exit ownership.” Get the full story at McKnight’s below.