Tag Archives: quality

Quality Care Takes Legal Action to Wrest Control Over 292 Care Facilities from HCR ManorCare

Quality Care Characteristic Inc. (NYSE: QCP)has actually submitted a claim looking for to appoint an independent receiver to manage operation of 292 of its experienced nursing and helped living/memory care facilities currently operated by HCR ManorCare Inc., its largest renter.

The company started the legal action in California State Court, requesting the visit of an independent receiver to protect the value of Quality Care’s facilities, in spite of HCR ManorCare’s defaults under the lease.

As previously reported, HCR ManorCare is in default of lease arrangements with the Quality Care Characteristics. The business and HCR ManorCare concurred in the lease that the business would can designate an independent receiver to operate the centers in compliance with the lease if HCR ManorCare defaulted, according to Quality Care.

If the court accepts designate an independent receiver, Quality Care prepares to shift its homes to brand-new operators, or look for a purchaser.

Quality Care stated all its facilities stay open and are anticipated to continue to provide continuous patient care.

“HCR ManorCare has refused QCP’s demands to select fully independent directors and officers to manage the skilled nursing and helped living/memory care services at centers owned by QCP,” the REIT said in a ready declaration.

Quality Care added that it believes HCR ManorCare is “strained by irreconcilable possible or actual disputes of interest, including responsibilities to sibling companies in the HCR ManorCare group, individual claims against the HCR ManorCare group and possible individual exposure to HCR ManorCare and/or its stakeholders.”

HCR ManorCare countered in a ready statement to workers, saying that it intends to “intensely” contest the legal action.

Quality Care Residence was formed in 2016 when HCP Inc. (NYSE: HCP) spun off HCR ManorCare and other health care-related properties. While freeing itself from ManorCare made it possible for HCP to focus on higher-growth chances in its varied healthcare property portfolio, it saddled Quality Care Characteristics with the possibility of a challenging turnaround circumstance.

As of March 31, Quality Care’s holdings included 257 post-acute/skilled nursing homes, 61 memory care/assisted living homes, one surgical medical facility and one medical office building throughout 29 states. HCR Manor Care rents 292 of the 320 homes, accounting for 94% of QCP’s revenue.


Sandwich store owner: Consistency, quality are secrets to success

[not able to obtain full-text material] Clyde Kim opened his lunch spot in 2015, the latest company venture for a man who states his entrepreneurial spirit is motivated by his parents. He’s been in business for himself since 2001– coffee shops, pizza dining establishments, motels, sushi– but has actually found his happiness making sandwiches.

Producer: '' Star Trek: Discovery' ' delayed to maintain quality

Wednesday, Aug. 2, 2017|1 a.m.

LOS ANGELES– The best of “Star Trek: Discovery” on CBS All Access was held off 9 months to preserve the quality of the brand name.

Executive Producer Alex Kurtzman told the Tv Critics Association Tuesday that they “invested a lot of time” discussing how to develop this new world for TV that felt genuine to the “Star Trek” universe.

He stated “it became clearer and clearer” that the targeted January debut would “compromise the quality of the show,” so it was pushed with the true blessing of CBS Chairman and CEO Leslie Moonves.

“Star Trek: Discovery” stars Sonequa Martin-Green as the main character, First Officer Michael Burnham.

The series best will relay on CBS Sept. 24. Immediately following, the very first and second episodes will stream on CBS All Gain access to. New episodes will hit on Sundays.

Upgraded: Quality Care Residence’ Sets Short Deadline for Getting Overdue Lease from HCR ManorCare

Without any Deal over Lease Defaulty in Sight, Prospects for both Companies Remain Uncertain

After reaching a deadlock to take over its largest tenant, Quality Care Characteristic (NYSE: QCP)has actually now given struggling proficient nursing center operator HCR ManorCare Inc. until the end of the week to pay off $79.6 million in past due lease.

Failure to do so “will make up an occasion of default needing the immediate payment of an additional approximately $265 million of delayed rent commitments and allow the QCP lessors to terminate the master lease, designate receivers or exercise other solutions with respect to any and all rented residential or commercial properties,” according to a new filing with federal securities regulators.

Quality Care Residence reported that its primary occupant paid around $8.2 countless its lease on July 7 rather than the approximately $39.5 million in lease required to be paid.

[Editor’s Note: This story was upgraded July 11 with details of rent payment demand information.]

Last month, Quality Care Properties revealed it was in conversations with HCR ManorCare– its primary tenant– about HCR ManorCare’s default under its master lease. Quality Care was looking for a commitment from HRC ManorCare’s loan providers for acquisition funding of approximately $500 million to be utilized to re-finance HRC’s present financial obligation and supply working capital. Such a relocation might have caused QCP to lose its REIT status.

QCP said confidential discussions about restructuring alternatives are continuing.

“QCP thinks it is necessary that any restructuring supply the QCP-owned centers and their experienced and committed staff members with the liquidity, resources, capital expense and other support required to guarantee the long-term connection of outstanding client and resident care,” the REIT reported.

HCR ManorCare is the occupant and operator of significantly all QCP’s residential or commercial properties which represents 94% of the REIT’s total income.

Quality Care Characteristic was formed in 2016 when HCP Inc. (NYSE: HCP) spun off HCR ManorCare and other health care-related residential or commercial properties. While releasing itself from ManorCare enabled HCP to concentrate on higher-growth opportunities in its diversified healthcare real estate portfolio, it saddled Quality Care Characteristics with the possibility of a difficult turnaround situation.

As of March 31, Quality Care’s holdings included 257 post-acute/skilled nursing properties, 61 memory care/assisted living properties, one surgical health center and one medical office complex throughout 29 states. HCR Manor Care leases 292 of the 320 residential or commercial properties.

HCR ManorCare operates more than 500 skilled nursing and rehabilitation centers, memory care neighborhoods, helped living centers, outpatient rehab centers, and hospice and home health care firms across the nation under the names of Heartland, ManorCare Health Providers and Arden Courts.

Following Quality Care Residence’ statement last month, rating agency Moody’s Investors Service reduced QCP’s and left open the capacity for more downgrade

The scores downgrade reflects Moody’s view that continued disturbances in capital from HCR will cause material deterioration in QCP’s operating profits and liquidity in the next 12-18 months.

The continuous scores review will focus on QCP’s ultimate tactical direction, its ability to reach an out-of-court lease restructuring with HCR and the impact of the restructuring on QCP’s cash flows and HCR’s EBITDAR coverage.


Quality Care Properties’ Negotiations with HCR ManorCare Break Down

Conversations by Quality Care Characteristic (NYSE: QCP) to take control of troubled experienced nursing center operator HCR ManorCare Inc. have reached an impasse, according to a brand-new filing with federal securities regulators.

Quality Care Characteristic (NYSE: QCP )submitted an update with the & Securities & Exchange Commission stating that “celebrations have actually been unable to reach contract on terms of an out-of-court acquisition.”

Last month, Quality Care Characteristic announced it remained in discussions with HCR ManorCare– its primary renter– about HCR ManorCare’s default under its master lease. Quality Care was looking for a dedication from HRC ManorCare’s loan providers for acquisition financing of up to $500 million to be used to refinance HRC’s current financial obligation and supply working capital. Such a move could have triggered QCP to lose its REIT status.

Quality Care Residence also reported this week that since the close of company on July 3, 2017, HCR cannot make minimum rent payments for the month of July.

QCP stated personal discussions about restructuring options are continuing.

“QCP believes it is necessary that any restructuring offer the QCP-owned centers and their experienced and committed workers with the liquidity, resources, capital expense and other support needed to make sure the long-lasting connection of exceptional client and resident care,” the REIT reported.

HCR ManorCare is the occupant and operator of substantially all QCP’s residential or commercial properties which represents 94% of the REIT’s overall earnings.

Quality Care Characteristic was formed in 2016 when HCP Inc. (NYSE: HCP) spun off HCR ManorCare and other health care-related residential or commercial properties. While freeing itself from ManorCare made it possible for HCP to concentrate on higher-growth opportunities in its varied healthcare realty portfolio, it saddled Quality Care Characteristics with the prospect of a difficult turn-around situation.

As of March 31, Quality Care’s holdings consisted of 257 post-acute/skilled nursing residential or commercial properties, 61 memory care/assisted living properties, one surgical healthcare facility and one medical office building across 29 states. HCR Manor Care leases 292 of the 320 homes.

HCR ManorCare runs more than 500 knowledgeable nursing and rehab centers, memory care communities, helped living centers, outpatient rehab centers, and hospice and home health care firms across the country under the names of Heartland, ManorCare Health Services and Arden Courts.

Following Quality Care Properties’ announcement last month, score company Moody’s Investors Service reduced QCP’s and exposed the potential for more downgrade

The rankings downgrade shows Moody’s view that continued interruptions in capital from HCR will lead to product degeneration in QCP’s operating revenues and liquidity in the next 12-18 months.

The ongoing rankings review will concentrate on QCP’s ultimate tactical instructions, its ability to reach an out-of-court lease restructuring with HCR and the impact of the restructuring on QCP’s cash flows and HCR’s EBITDAR coverage.


Kia tops new car quality survey for 2nd straight year

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Charles Rex Arbogast/ AP In this Thursday, Feb. 11, 2016, file photo, the 2017 Kia Niro rests on display at the Chicago Automobile Show, in Chicago.

Wednesday, June 21, 2017|10:21 a.m.

DETROIT– Kia has actually claimed the leading spot in a survey of new lorry quality for the 2nd straight year.

Genesis– a luxury brand owned by Hyundai Motor Co.– was 2nd in J.D. Power’s yearly preliminary quality study. This marks the first time in the survey’s 30-year history that 2 Korean brands have topped the list, a representative for J.D. Power stated.

Porsche, Ford and Ram completed the leading five. The most affordable ranking brand names were Fiat, Jaguar, Volvo, Mitsubishi and Land Rover.

The survey questioned 80,000 owners of 2017 model year automobiles about the problems they had in the very first 90 days of ownership. Owners were most likely to complain about technology, including bad voice acknowledgment systems, cumbersome navigation and issues combining smart devices to their automobiles.

Kia owners had 72 problems per 100 cars, helping it hold on to the leading area in the study. Last year was the first time a mass-market brand name like Kia made first place over a high-end brand name. In the 15 years prior, the leading spot was held by either Lexus or Porsche.

Kia likewise was among the top five brands in Customer Reports’ annual reliability survey released last fall. Consumer Reports’ vehicle screening director, Jake Fisher, says one reason Kia succeeds in such studies is that it utilizes tried and true older innovation from its sister brand, Hyundai. Brands with a great deal of new vehicles or brand-new innovation have the tendency to insinuate the rankings.

The market average was 97 problems. Fiat owners reported 163 issues for every 100 automobiles.

J.D. Power said total new automobile quality reached its highest level ever in this year’s study, improving 8 percent from last year. Quality enhanced in every category other than for screens and controls, which saw an uptick in grievances about newer features like lane departure warning systems and blind spot detection.

Mini was the most enhanced brand name in the study, with owners reporting 94 problems per automobile, below 127 problems in 2016. Ram, Acura, Volvo and Ford also saw big improvements in their rankings.

Updated: Quality Care Properties Seeks Funding To Conserve Largest Renter, Abandoning REIT Status

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HCR ManorCare Falls Behind in Full Rent Payments, Pursues Out-of-Court Restructuring

Quality Care Residence(NYSE: QCP), the new healthcare REIT set up by HCP last year to take the troubled skillled nursing center operator, HCR ManorCare Inc., off its hands, is facing a hard choice.

With HCR ManorCare falling back in rent and doggedly pursuing an out-of-court restructuring, Quality Care Properties is considering taking control of the struggling competent nursing center operator, which is without a doubt its most significant renter.

Nevertheless, as QCP just recently acknowledged, such a relocation might cause it to lose its REIT status

As it pursues its alternatives, Quality Care stated it is looking for a dedication from HRC ManorCare’s loan providers for acquisition financing of approximately $500 million to be used to re-finance HRC’s existing financial obligation and supply operating capital.

Quality Care would promise money and substantially all properties of both skilled nursing
and hospice entities to secure the financing.

Quality Care is searching for a dedication by June 15.

[Editor’s Note: This story was upgraded Friday June 9 with info on financing request.]

Quality Care Characteristic was formed in 2016 when HCP Inc. (NYSE: HCP) spun off HCR ManorCare and other health care-related homes. While releasing itself from ManorCare enabled HCP to concentrate on higher-growth chances in its diversified healthcare real estate portfolio, it saddled Quality Care Characteristics with the prospect of a difficult turn-around circumstance.

Since March 31, Quality Care’s holdings included 257 post?acute/ competent nursing residential or commercial properties, 61 memory care/assisted living properties, one surgical hospital and one medical office complex throughout 29 states. HCR Manor Care leases 292 of the 320 properties, accounting for 94% of QCP’s earnings.

The REIT revealed that HCR ManorCare remains in default of its master lease contract, behind completely lease payments, and HCR’s lending institutions have actually also accelerated loan payments from the Toledo, OH-based nursing center operator.

The operator’s problems are not new to Bethesda, MD-based Quality Care. HCP initiated the spin-off as part of a strategy to boost its portfolio performance, which was being hindered as the more comprehensive knowledgeable nursing facility market continued to experience difficulties from much shorter lengths of stays for homeowners, modifications in Medicare compensation designs that lowered compensation rates, and lower resident counts.

HCR ManorCare’s monetary problems escalated this spring. In April, the company entered into a forbearance agreement with HCR ManorCare agreeing not to pursue “exercise of solutions” readily available to it as an outcome of HCR ManorCare’s default under its master lease and security agreement.

The forbearance arrangement needed, to name a few things, that HCR ManorCare pay $32 million in rent on the very first of April, Might and June of 2017, with as much as $7 countless the quantity got monthly potentially avilable in loans back to HCR ManorCare.

This month, HCR ManorCare only made a $15 million rent payment, less than half its total under the forebearance arrangement, according to a Quality Care filing with the United States Securities & & Exchange Commission.

HCR ManorCare notified Quality Care that its secured lending institutions have actually accelerated their loans which the decreased lease payment “corresponds to the quantity that it thought to be proper to pay at this time in light of the impressive velocity by HCR ManorCare’s secured loan providers, the desire to protect liquidity for its stakeholders, the incurrence of professional charges and other restructuring expenditures and newly provided HCR ManorCare management projections of minimized capital from the QCP-owned properties.”

HCR ManorCare also forecasted a decrease in the future financial efficiency compared to forecasts it made even earlier this year.

Quality Care said it continues to remain in discussions with HCR ManorCare about its lease default and a prospective out-of-court restructuring, saying it “thinks that an out-of-court restructuring will require a considerable decrease in HCR ManorCare’s liabilities, however included it might offer no guarantee that the required agreements among stakeholders would be reached.

On the other hand, QCP stated it is thinking about all alternatives, including taking complete equity ownership of HCR ManorCare.

While Quality Care thinks such a restructuring would allow HCR ManorCare’s to create a sustainable company operation, if it were to occur, it would likewise indicate that QCP would not be able to keep its REIT status.


Quality Care Characteristic Thinks about Abandoning REIT Status to Save Largest Occupant

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HCR ManorCare Falls Behind in Full Lease Payments, Pursues Out-of-Court Restructuring

Quality Care Characteristic(NYSE: QCP), the new healthcare REIT established by HCP last year to take the struggling skillled nursing center operator, HCR ManorCare Inc., off its hands, is dealing with a challenging choice.

With HCR ManorCare falling back in lease and doggedly pursuing an out-of-court restructuring, Quality Care Residence is thinking about taking over the struggling knowledgeable nursing center operator, which is by far its most significant occupant.

However, as QCP recently acknowledged, such a move could trigger it to lose its REIT status.

Quality Care Characteristic was formed in 2016 when HCP Inc. (NYSE: HCP) spun off HCR ManorCare and other health care-related residential or commercial properties. While freeing itself from ManorCare allowed HCP to focus on higher-growth opportunities in its diversified healthcare realty portfolio, it saddled Quality Care Residences with the prospect of a tough turn-around scenario.

As of March 31, Quality Care’s holdings consisted of 257 post?acute/ competent nursing homes, 61 memory care/assisted living properties, one surgical hospital and one medical office building throughout 29 states. HCR Manor Care leases 292 of the 320 residential or commercial properties, accounting for 94% of QCP’s revenue.

The REIT divulged that HCR ManorCare is in default of its master lease contract, behind completely rent payments, and HCR’s lending institutions have also accelerated loan repayments from the Toledo, OH-based nursing center operator.

The operator’s difficulties are not brand-new to Bethesda, MD-based Quality Care. HCP started the spin-off as part of a strategy to enhance its portfolio performance, which was being obstructed as the wider proficient nursing center market continued to experience challenges from much shorter lengths of stays for homeowners, changes in Medicare repayment designs that decreased reimbursement rates, and lower resident counts.

HCR ManorCare’s monetary difficulties escalated this spring. In April, the company participated in a forbearance arrangement with HCR ManorCare concurring not to pursue “workout of treatments” readily available to it as a result of HCR ManorCare’s default under its master lease and security arrangement.

The forbearance contract required, to name a few things, that HCR ManorCare pay $32 million in lease on the first of April, Might and June of 2017, with up to $7 countless the amount received monthly possibly avilable in loans back to HCR ManorCare.

This month, HCR ManorCare just made a $15 million rent payment, less than half its overall under the forebearance contract, according to a Quality Care filing with the U.S. Securities & & Exchange Commission.

HCR ManorCare notified Quality Care that its protected lending institutions have actually accelerated their loans and that the minimized lease payment “corresponds to the amount that it believed to be appropriate to pay at this time because of the impressive acceleration by HCR ManorCare’s protected lending institutions, the desire to preserve liquidity for its stakeholders, the incurrence of expert charges and other restructuring expenses and newly supplied HCR ManorCare management projections of minimized cash flow from the QCP-owned assets.”

HCR ManorCare also forecasted a decrease in the future financial efficiency compared to forecasts it made earlier this year.

Quality Care said it continues to be in conversations with HCR ManorCare about its lease default and a prospective out-of-court restructuring, stating it “thinks that an out-of-court restructuring will need a substantial decrease in HCR ManorCare’s liabilities, but included it might offer no assurance that the necessary contracts among stakeholders would be reached.

On the other hand, QCP stated it is considering all alternatives, consisting of taking full equity ownership of HCR ManorCare.

While Quality Care thinks such a restructuring would allow HCR ManorCare’s to produce a sustainable company operation, if it were to occur, it would also suggest that QCP would not have the ability to retain its REIT status.


2 Las Vegas Valley medical facilities acknowledged for quality, client fulfillment

Friday, Sept. 25, 2015|11:10 a.m.

2 local health centers– Southern Hills and MountainView– have actually been acknowledged with a 2015 HealthInsight Quality Award for their performance in quality-care measures and client fulfillment.

HealthInsight, a nonprofit intending to enhance health care, provides the award to hospitals that have actually shown high quality in both classifications, based on Centers for Medicare and Medicaid Services reports and the hospitals’ patient experience ratings. The award program started in September 2004.

Southern Hills and MountainView belong to the Sunrise Health System Hospitals. MountainView has actually gotten the HealthInsight Quality Award every year because 2010.

Leaders from both Southern Nevada hospitals released statements commending their personnels and swearing to continue to provide quality healthcare.

“This level of accomplishment needs strong leadership and a devotion to quality by all members of the health care team,” said Deborah Huber, executive director for HealthInsight Nevada.

Out-of-Sight Quality

Larry Henley, ’80 BA and ’02 MA Theatre, director of creative programs and production at UNLV’s Carrying out Arts Center, has been called the university’s Administrative Faculty Member of the Year for 2015. He has been an employee because September 1985 (this time around).

When you initially came to UNLV

I registered as a student in 1975, the very same year I graduated from Chaparral High School as a member of its first graduating class. By 1977 I was working in the campus theaters. I had started as an art major, however then I changed to theatre. Something I had actually discovered was that in theater you could meet girls! And I fulfilled my other half (Laura Elizabeth Wiley Henley, ’82 BA theatre, ’92 Master of Unique Education) here. My specialty was theater lighting design.

Where your profession has actually taken you

I moved to Colorado Springs, Colorado, as head electrical expert and impresario at the Pikes Peak Center when it opened. I remained there three years and my better half chose she was done with the snow. Then I went back to UNLV as a theatre facilities expert. Later on I became the centers supervisor for the PAC then in 2002 I moved into my present task.

What your job includes

There is no typical day. We do all sort of things at the PAC– Nevada Conservatory Theatre plays, symphonies, opera, ballets, graduations, the Barrick Lecture series. I have the tendency to work a great deal of nights and weekends.

What it resembles to deal with the really well-known

The more established and skilled they are, the more fun they are to deal with– normally. It’s not so much the artists who can be challenging to deal with, it’s individuals who deal with the artists– the gatekeepers and the managers.

Itzhak Perlman is a lot of enjoyable. He’s a punster and likes to bet, so you always wind up going out. You are standing at the craps table at the Bellagio at 3 in the early morning viewing the greatest violinist on the planet throwing dice.

(Former President Bill) Clinton was the ultimate in charm. He had no reason to even know I existed, but he walked into my workplace and asked if he might sign something for me. He looked for people out.

I met (author) Doris Kearns Goodwin. She was the last person off of her plane. I used a Brooklyn Dodgers jersey for her. She enjoyed that.

My preferred Barrick lecturer would be Ken Burns. I love his documentary films, and he was simply amazing. I remember eating huge Bellagio langostino shrimp with him at midnight.

I rode in the back of a limousine with (married political consultants) James Carville and Mary Matalin. It ended up being really evident who put on the pants because family … and I don’t believe it was James Carville!

What You Want to Check out

Any biography. Frank Lloyd Wright: An Autobiography is worth reading. What an amazing human.

Something Individuals Might Be Shocked to Learn About You

I love sports and am a fan of the Dodgers, the Rams, and the Lakers. I’m a big Beatles fan, too.

Your First Job

Working as a parking cashier for the California Hotel at a lot on Ogden from 10 p.m. to 6 a.m. I was a zombie when I would get to class. As God is my witness, I will never work graveyard once again.

Exactly what the Nominators Said

Henley was nominated by Lea Sexton and Cheryl Tillotson, director and associate director, respectively, of the College of Liberal Arts Wilson Advising Center; Vaune Kadlubek, director of encouraging for the Division of Health Sciences; and theatre teacher Joe Aldridge, director of the home entertainment & & engineering program. They wrote a joint nomination, describing Henley as a “hidden treasure,” and stating, “We have actually all been kindlied throughout the years to serve with Larry on many committees, many of which he has chaired. Whether it’s collaborating on the UNLV Formality Convocations or various commencements, the discipline and drive that Larry always shows has helped push most university occasions to brand-new heights. He works faithfully to bring the best to each event and performance he covers, and the result is excellence. He is constantly there, primarily out of sight, never asking for credit, and our entire university system has benefited from his sharp mind and peaceful strength.”Larry is an example of university citizenship at its finest. He has actually provided 100 percent to students and the university system as a whole, and he has actually enhanced the lives of everybody in the process. It is time for Larry to be acknowledged for all the many years and support he has freely offered to the university he enjoys.”