Selectis Health owns and operates senior care facilities in the South and Southeast U.S., including Skilled Nursing Facilities (SNFs), Assisted Living Facilities (ALFs), and Independent Living Facilities (ILFs). SNFs provide rehabilitative nursing care — including physical, occupational, and speech therapy — and are primarily reimbursed by Medicare and Medicaid. ALFs provide housing and personal care assistance for seniors who need daily help but limited medical care, with revenue primarily from private pay or private insurance. ILFs provide housing and amenities for independent seniors, also on a private-pay basis. Selectis operates most of its facilities directly and leases the remainder to third-party operators under triple-net leases. Selectis transitioned from a pure landlord model to an owner-operator model beginning in 2019, arguing that direct operations better support revenue growth and care quality. Key financial drivers include occupancy rates, payor mix (Medicare and private-pay residents are more profitable than Medicaid), government reimbursement rates set annually by CMS and state governments, and staffing costs, which are the largest operating expense. The company's near-term focus has been balance sheet stabilization, including repaying high-cost debt, partly funded by selling two Georgia facilities in early 2026. Longer-term, Selectis aims to grow by increasing occupancy and improving rates within its existing facilities.