Regional Health Properties owns and operates skilled nursing facilities (SNFs) and senior housing communities in the Southeastern U.S., with a complementary pharmacy business and a smaller real estate leasing segment. Regional's core facilities serve elderly and post-acute patients, providing sub-acute and post-acute skilled nursing care, rehabilitation therapy, long-term nursing care, memory care, and assisted living. As of December 31, 2025, Regional operates 12 facilities across 6 states with 1,126 licensed beds and units. Revenue comes primarily from Medicare and Medicaid reimbursements, with smaller contributions from commercial insurers and private-pay patients. Regional also leases several Ohio facilities to third-party operators under triple-net lease arrangements, and following its August 2025 merger with SunLink Health Systems, operates a pharmacy in Louisiana serving long-term care patients. Regional evolved from a passive healthcare landlord into a direct owner-operator, and its strategy centers on acquiring underperforming SNFs and senior housing facilities at discounted valuations, then improving occupancy, payor mix, labor management, and billing practices to generate returns. Regional focuses its acquisition targets in the Southeast, where it sees favorable senior population demographics and attractive asset valuations. Profitability in the core segment hinges on the gap between patient care revenue and labor costs, which is the largest operating expense, and Regional recycles capital by selling non-core assets to fund higher-priority investments.