Sunrise Addresses the Center for Medicare & Medicaid Services Payment ...
/PRNewswire/ -- Sunrise Senior Living, Inc. (NYSE: SRZ) today responded to the announcement made by the Center for Medicare & Medicaid Services ("CMS") that it is reducing payments for skilled nursing facilities by $3.87 billion in fiscal year 2012. The Company acknowledged that the payment reduction will affect operating results. Based on a preliminary analysis of the limited information contained in the CMS announcement and assuming that the payment reduction had been in place for the first quarter of 2011, the Company estimates that reported first quarter 2011 consolidated net income and adjusted EBITDA would have each been reduced by approximately $1 million. Skilled nursing units comprise approximately 3 percent of the total unit capacity of the 317 senior living facilities operated by the Company.About Sunrise Senior Living
Sunrise Senior Living, a McLean, Va.-based company, employs approximately 31,700 people. As of March 31, 2011, Sunrise operated 317 communities located in the United States, Canada and the United Kingdom, with a unit capacity of approximately 31,100 units. Sunrise offers a full range of personalized senior living services, including independent living, assisted living, care for individuals with Alzheimer's and other forms of memory loss, as well as nursing and rehabilitative services. Sunrise's senior living services are delivered by staff trained to encourage the independence, preserve the dignity, enable freedom of choice and protect the privacy of residents. To learn more about Sunrise, please visit http://www.sunriseseniorliving.com .
Forward-Looking Statements
Certain matters discussed in this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Sunrise believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, there can be no assurances that these expectations will be realized.
Sunrise Senior Living Inc - News
1, 2011 -- /PRNewswire/ -- Sunrise Senior Living, Inc. (NYSE: SRZ) today responded to the announcement made by the Center for Medicare & Medicaid Services ("CMS") that it is reducing payments for skilled nursing facilities by $3.87 billion in fiscal
She most recently served as senior vice president, corporate internal audit for Sunrise Senior Living, Inc., where she established the company's internal audit function and led its efforts in Sarbanes-Oxley, SEC and Medicare compliance.
Sunrise Senior Living (NYSE:SRZ - Snapshot Report) ranks first with an ROE of 166.2%; Tenet Healthcare (NYSE:THC - Analyst Report) ranks second with an ROE of 115.3%; and Health Management Associates (NYSE:HMA - Analyst Report) ranks third with an ROE
She has worked in the commercial and senior housing sectors for over 18 years in 11 states as well as in the UK. She worked as a development officer for Sunrise Senior Living and previously as vice president of development for Mason Hirst Companies and
Also falling were Sunrise Senior Living Inc. (SRZ), National Healthcare Corp. (NHC) and Amedisys Inc. (AMED). In general, market observers didn't know how low the stock would go. "It is difficult to quantify a level at which we would be buyers,"
Stocks to Watch: HSBC, Humana, Biogen and More | OTc Hot Alerts
By Caitlin Nish and Corrie Driebusch
Among the companies whose shares are expected to actively trade in Monday’s session are Humana Inc. and HSBC Holdings PLC.
Humana’s second-quarter earnings rose a better-than-expected 35%, aided by its Concentra acquisition and as the managed-care provider saw membership increase. For the year, the company raised its per-share earnings estimate amid expectations for lower projected benefit ratios in its retail and employer group businesses, partially offset by higher projected Medicare sales and marketing spending. Shares gained 6.5% to $79.46 pre-market.
HSBC Monday said it is slashing around 30,000 jobs to cut costs and revamp its business, as the banking giant follows through on a May plan to withdraw from some countries and refocus its operations on high-growth markets. Shares rose 4% to $50.80 in pre-market trading.
Medicare said it will cut payment rates to skilled nursing facilities by 11.1% next fiscal year, sending shares of health-care providers tumbling. The decision adjusts for what the Centers for Medicare & Medicaid Services calls an unexpected spike in nursing-home payments this fiscal year and rejects another option that would have likely provided a 1.5% funding increase. Kindred Healthcare dropped 26% to $13.95 in pre-market trading while Sun Healthcare Group Inc. plunged 46% to $3.79 and Skilled Healthcare Group Inc. lost 28% to $6.35. Sunrise Senior Living Inc. lost 5.3% to $8.35.
Boardwalk Pipeline Partners LP’s second-quarter profit fell 72% on an asset-impairment charge, masking continued revenue growth in its gas-transportation business. Units were down 1.2% to $28.13 in pre-market trading as revenue missed expectations.
Biogen Idec Inc. rallied as a promising oral MS drug from Teva Pharmaceutical Industries Ltd. and Active Biotech AB failed its second late-stage clinical trial. Biogen has had strong data on its own MS pill and is expected to have a leading position in the emerging market for oral MS drugs, although it also must prove effective in a second major study later this year. The TEVA/Active offering, laquinimod, was effective in an earlier study, making the latest results a surprise. Teva’s American depositary shares were halted in pre-market trade while Biogen gained 4.8% to $106.75.
Sunrise Senior Living Responds to CMS Announcement: In a press release today, Sunrise Senior Living, Inc. respon... 
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Sunrise Senior Living, Inc., et al.: Securities and Exchange Commission Litigation Complaint
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Sunrise Senior Living
Provider of senior living services in the United States, United Kingdom, and Canada.
Sunrise Senior Living, Inc.: Information from Answers.com
From sunrise to sunset, Sunrise Senior Living helps the elderly make the most of life. ... In 1994, Sunrise incorporated with 30 successful senior communities. ...
Services and Care
Quality Communities for Quality Living. For seniors who deserve a retirement home that is second to none, Sunrise Senior Living offers the very ...
SRZ: Summary for Sunrise Senior Living, Inc. Com- Yahoo! Finance
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Sunrise Senior Living Investor Relations | Sunrise Senior Living
Sunrise Senior Living offers a wide range of senior living services including independent and assisted living, rehabilitative care, Alzheimer's care and hospice care.