DISTRESSED DAILY: New Treatments Could Ease Senior Living Costs – Bloomberg Law

Even as omicron advances, new treatments could ease some of the financial pressure in the beleaguered senior housing industry.

Senior living businesses — nursing homes in particular — struggled during the pandemic amid shutdowns, massive worker departures and as occupancy rates plunged. A Jan. 3 report from Municipal Market Analytics shows that senior living borrowers accounted for more than half — 33 of 64 — of first-time municipal-bond payment defaults last year.

The recent approval of Pfizer Inc.’s Paxlovid pill — an at-home therapy for Covid — can help ease the labor costs that have plagued the facilities, Deutsche Bank …