OPERATION EXPANSIONS |
3 Months Ended |
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Mar. 31, 2026 | |
| Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] | |
| OPERATION EXPANSIONS | OPERATION EXPANSIONS 2026 Expansions During the three months ended March 31, 2026, the Company’s operations grew through the addition of three stand-alone facilities, two of which were acquired in conjunction with the real estate for the properties and one of which the Company acquired through a long-term lease. The new facilities added 234 assisted living beds operated by the Company's affiliated operating subsidiaries. The aggregate purchase price for these facilities was $50,769. Additionally, during the same period the Company expanded its portfolio of owned properties by acquiring one property, for which it had previously operated the facility, for an aggregate purchase price of $35,750. During the same period, the Company also divested of one leased facility which included 110 skilled nursing beds. The Company’s expansion strategy has been focused on identifying both opportunistic and strategic acquisitions within its target markets that offer strong opportunities to improve both clinical and financial performance of the acquired facility. The operations added by the Company are frequently underperforming financially and have regulatory and clinical challenges to overcome. Financial information, especially with underperforming operations, is often inadequate, inaccurate or unavailable. The Company believes that prior operating results are not typically a meaningful representation of the Company’s current operating results or indicative of the integration potential of its newly acquired operating subsidiaries. The assets added during the three months ended March 31, 2026 and through the issuance of the financial statements were not material operations to the Company individually or in the aggregate. Accordingly, pro forma financial information is not presented. The additions have been included in the condensed consolidated balance sheets of the Company, and the operating results have been included in the condensed consolidated statements of income of the Company since the date the Company gained effective control. Expansions After Period End Subsequent to March 31, 2026, the Company’s operations expanded in one existing state with the addition of one stand-alone facility which the Company acquired in conjunction with the real estate. This new facility added 82 assisted living beds operated by the Company’s affiliated operating subsidiaries. The aggregate purchase price for this facility was $41,786.
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