60 Seconds with Steve Monroe and Ben Swett
60 Seconds is a weekly video series hosted by The SeniorCare Investor’s Steve Monroe and Ben Swett. It covers the biggest news of the week, the latest M&A trends, market statistics or other analysis at the top of their minds in the seniors housing and care industry. Any suggestions on future topics, thoughts on recent videos, or inquiries into sponsorship opportunities can be sent to editorial@levinassociates.com.
July 1, 2025 – 60 Seconds with Swett: M&A Activity Tops 350 Deals in H1:25
Q2 2025 saw 176 announced deals, bringing the first-half total to 355—on pace to match 2024’s record 716. But U.S. deal volume dipped to 129, signaling a possible slowdown. Still, strong Q3–Q4 activity and portfolio deals could keep the market healthy.
Transcript
In the second quarter of 2025, there were 176 publicly announced transactions, a preliminary number that is almost certain to increase in the weeks ahead. That brings our total for the first half of the year to 355 deals, or 710 on an annualized basis. Considering we finished 2024 with 716 total deals, which was a record by far, we are in a good place for deal activity. After a slow May with 47 deals, we wondered if we would even have a chance of breaking 700 transactions for the year. But June bounced back with 64 deals, including some large portfolio deals.
Looking at the second quarter, however, trouble may be brewing. Breaking out U.S. M&A activity, 2024 finished with 593 deals in the country. However, the second quarter of 2025 only saw 129 deals in the U.S., or 516 on an annualized basis. If Q3 and Q4 are as busy as dealmakers are telling us they will be, then we are in very good shape. But it was always going to be difficult to top last year in terms of activity, especially if more assets were sold in portfolios rather than in single-asset transactions. But that may not be a sign of an unhealthy market.
60 Seconds with Swett: The Fight between Brookdale and Ortelius
Both Brookdale and Ortelius Advisors claimed partial victory after ISS recommended shareholders vote for 2 of Ortelius’s 6 board nominees. ISS acknowledged Ortelius’s push for change but questioned Brookdale’s board independence in the CEO search. The July 11 vote looms.
60 Seconds with Swett: HUD’s Express Lane and M&A
HUD launched an “Express Lane” for Section 232 loans, speeding up approvals for high-quality facilities and borrowers meeting strict criteria. With strong guardrails—like LTV caps, high DSC, and no default history—this reform should streamline repeat-borrower deals.
60 Seconds with Swett: May 2025 M&A Activity Slumps
After a record 714 M&A deals in 2024, activity stayed hot early in 2025 but dropped to just 46 deals in May. U.S. deals fell to 35, the lowest since Sept. 2023. Though a summer rebound is expected, the sector may fall short of 700 deals this year.