Real estate investors are buying up longterm care facilities. Residents can suffer
News Source : NPR
News Summary
- Real estate investment trusts have bought thousands of buildings that house nursing homes, hospitals, assisted living facilities, and medical offices.
- A KFF Health News examination of court filings and corporate records shows that these landlords have more influence than the health care facilities publicly acknowledge.
- REITs now own a fifth of the nation's senior housing, which includes assisted living, memory care, and independent living, according to an industry analysis.
- A California jury in March awarded $92 million in punitive damages against a former REIT over the death of a 100-year-old resident with dementia.
By the time she was hospitalized in 2020, Pearlene Darby, a retired teacher, had suffered open sores on both legs, both hips, and both heels, as well as a fiveinchlong gash on her tailbone. She die [+17410 chars]
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