We investigated TrilogyLiving earlier this year for having an extraordinary number of deaths during the pandemic, now their owners are heading to the NYSE
A USA TODAY investigation has traced a string of casualties back to one nursing home chain, Trilogy Health Services.The parent organization of one of the nation’s largest nursing home chains filed paperwork for an initial public offering in what could set a record for transactions of its kind.
The REIT acknowledged to investors in its filing Friday with the Securities and Exchange Commission that it has faced downward financial pressure due to the pandemic, inflation and worker shortages. But its COVID-19 death rates compared to peers has not been reflected in communications to investors.
Overall, American Healthcare REIT continues to rebound from the pandemic and reported more than $200 million in net operating income in 2021, a metric used to gauge profitability. American Healthcare REIT says Trilogy has largely recovered from the pandemic. Occupancy rates have surged from 66.9% in December 2020 to 81% in June 2022.
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