Data collected from the Arkansas Department of Human Services and compiled by Tyler Hale
Nursing homes are big business in Arkansas and across the United States, as the world’s population is steadily increasing in age. According to the World Health Organization, the 60-and-over population will rise over 1 billion people by the middle of the 21st century, from 900 million in 2015 to 2.1 billion in 2050.
Skilled nursing facilities will likely have a significant role in caring for this aging population. In Arkansas, there are numerous facilities throughout the state that provide housing and nursing care.
Arkansas Money & Politics is highlighting the top five nursing home owners in Arkansas.
The following lists represent the five most extensive holdings of nursing homes in the state of Arkansas. The tables include the names of all the facilities that each individual (or individuals) own, along with the total revenue and net income that have been reported in 2018. In some cases, information was not available for facilities.
Bryan and Brandon Adams own the largest number of nursing homes with 41 facilities. Michael Morton is close behind the Adams with 32 Arkansas facilities that are both wholly and jointly held. Progressive Eldercare Services, based in Alexandria, La. and owned by John Ponthie, has the third largest number of nursing homes in the state. Progressive Eldercare Services operates 29 facilities in Arkansas.
With 23 nursing homes, Joseph Schwarz of Skyline Management owned the fourth largest number of nursing homes in Arkansas. However, the company has begun exiting the nursing home business in Arkansas in 2018 after the state Department of Human Services filed lawsuits against two of Skyline’s nursing homes. As a result, the most recent figures for these nursing homes were not available.
The fifth largest holding of nursing homes is owned by Cathy Parsons, who owns 10 nursing homes.
Not shown in the following list are the direct net income or loss for each nursing homes, which is calculated by subtracting the total revenue by the operating expenses, or the net-related party adjustments. The adjusted net income or loss, which is the final net profit or loss for a nursing home, is obtained by subtracting the party adjustments from nursing home’s direct net income. Visit armoneyandpolitics.com for complete figures.