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Omega's story speaks to rise of healthcare properties
Omega's story speaks to rise of healthcare properties

Omega Healthcare Investors Inc. faltered in the late 1990s after cuts to Medicare and Medicaid drained the business of clients. As federal budget cuts rippled through the system, Omega reeled. Founded in 1992, the Hunt Valley-based real estate investment trust owned buildings it leased to operators of skilled nursing facilities. Several of its tenants went into bankruptcy. Income plummeted. The CEO and CFO left the firm. The board suspended its dividend. The stock fell under $2 a share in 2001. Under new leadership, Omega recovered slowly by sticking with what it knew until about five years ago, when its business accelerated. Propelled by increased investor demand for medical real...

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