Strong Growth in Adjusted EBITDA and AFFO
Adjusted EBITDA increased to $39.8 million, up 3% over the prior year. Excluding out-of-period items, adjusted EBITDA increased by 15.4%. AFFO increased to $0.29 per share, up 23.1% year-over-year.
Successful Acquisitions and Expansion
Completed acquisition of 9 Class C long-term care homes and a parcel of land from Revera for $41.9 million in cash, adding 822 long-term care beds and 574 private pay retirement beds. Expected to add approximately $13 million in annualized NOI.
Home Health Care Segment Growth
Average daily volumes in home health care were up 10.9% from the prior year, and NOI margin improved by 90 basis points to 13.5%.
Increase in Revenue and NOI
Consolidated Q2 revenue increased by 10% to $383.4 million. Excluding out-of-period items, Q2 NOI improved by $6.3 million or 12.9% to $55 million.
Managed Services Expansion
Third-party and joint venture beds serviced by SGP grew 5.9% from last year, now servicing over 149,000 beds.