Brennan Linsley / AP

Kindred Healthcare has agreed to sell its 96 skilled nursing facilities for $700 million to a company led by BlueMountain Capital Management, a hedge fund based in New York City. Kindred will pay that money to Ventas, a real estate company that serves as the landlord for 36 of the nursing homes.

The bottom line: Kindred has wanted out of skilled nursing, which generated $1 billion of revenue for Kindred in 2016, since November. The deal was not about advancing care with new owners — it was about getting out of a business that treats a lot of poor patients on Medicaid and could also face Medicare payment cuts.

The Medicare Payment Advisory Commission has criticized the high Medicare profit margins for skilled nursing operators and recommended this year that Congress freeze payment rates.

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Hurricane Zeta makes landfall on Louisiana coast as Category 2 storm

A satellite image of Hurricane Zeta. Photo: National Hurricane Center/NOAA

Hurricane Zeta is "battering southeastern Louisiana and southern Mississippi with life-threatening storm surge, high winds, and heavy rain," per the National Hurricane Center.

What's happening: The hurricane was producing maximum sustained winds of nearly 110 mph and stronger gusts after making landfall on the southeastern coast of Louisiana as a Category 2 storm earlier Wednesday.

Supreme Court rejects GOP push to cut absentee ballot deadline in N.C.

Photo: Robert Alexander/Getty Images

The Supreme Court on Wednesday rejected a request by Republicans to shorten North Carolina's deadline for mail-in ballots from nine to three days.

The big picture: This is the latest of a series of decisions over mail-in ballot deadlines in various states.

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

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  3. Business: Surge is sinking consumer confidence Testing is a windfall.
  4. World: Europe faces "stronger and deadlier" coronavirus wave France imposes lockdown as Macron warns of overwhelming second COVID wave Germany to close bars and restaurants for a month.
  5. Sports: Boston Marathon delayed as COVID-19 surges MLB to investigate Dodgers player who joined celebration after positive COVID test.