Senior care suffered as investors squeezed by rising costs

The plan was straightforward: Open the assisted living community and fill it with residents, demonstrate a profit and then flip it in a few years for a healthy return. Six years later, the facility that was supposed to be a successful business venture is in bankruptcy. Occupancy suffered as the financial problems dragged down the facility’s reputation and as state inspectors cited the home for one serious violation after another, including untrained, insufficient and abusive staff.

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