Genesis HealthCare

Genesis HealthCare

Type	Public
Traded as	NYSE: GEN
Industry	Health care
Headquarters	Kennett Square, Pennsylvania, U.S.
Key people	George V. Hager, Jr. (CEO)
Revenue	4.77 Billion USD (2014)
Number of employees	90,000
Website	www.genesishcc.com

Genesis HealthCare is a provider of short-term post-acute, rehabilitation, skilled nursing and long-term care services. As of 2015, Genesis operates over 500 skilled nursing centers and assisted living residences in 34 states across the United States. Genesis also supplies rehabilitation therapy to over 1,800 healthcare providers in 45 states and the District of Columbia. Genesis has approximately 90,000 employees. Genesis HealthCare is headquartered in Kennett Square, Pennsylvania.

History

Genesis Health Ventures was established by Michael R. Walker in 1985 with acquisition of nine centers. Between 1985 and 1998, Walker grew Genesis Health Ventures from a $32 million to a $2.4 billion public company through the acquisition of nursing homes and services such as rehabilitation therapy, diagnostic testing, respiratory therapy, and pharmacy.

In 1999, the federal government made drastic, unanticipated cuts to Medicare, which at that time funded virtually all the care for individuals admitted to Genesis Centers from hospitals. Genesis Health Ventures sought Chapter 11 protection in 2000. In 2001, the company reorganized and reemerged from bankruptcy.

In 2003, Genesis Health Ventures separated the company's in-patient care and pharmacy divisions. As part of the separation, Genesis Health Ventures adopted the NeighborCare pharmacy division's trade name, and spun off the company's Genesis ElderCare Skilled Nursing Centers and Assisted Living and Independent Living Communities, as well as Genesis Rehabilitation Therapy Services, into a new entity – Genesis HealthCare Corporation.

On July 13, 2007, Formation Capital and JER Partners completed the acquisition of Genesis HealthCare Corporation. The total enterprise value of the transaction was approximately $2.0 billion. Genesis' shareholders received $69.35 in cash for each share of Genesis' common stock that they held.^[1]

On April 1, 2011, Health Care REIT, Inc. (NYSE:HCN) completed the $2.4 billion acquisition of substantially all of the real estate assets of privately owned Genesis HealthCare, which was previously announced on February 28, 2011. In June 2012, Genesis HealthCare announced its plans to acquire Sun Healthcare Group.

On December 1, 2012 Genesis completed the acquisition of Sun Healthcare Group, Inc. (Sun) (NASDAQ GS: SUNH). Sun Healthcare was formally headquartered out of Irvine, California. It operated skilled nursing facilities, assisted and independent living centers, and behavior health centers in 23 states. Sun also owned SunDance Rehabilitation, CareerStaff Unlimited and SolAmor Hospice. Genesis acquired Sun for $8.50 per share. The aggregate amount of the merger was approximately $215, excluding closing costs and the repayment of Sun debts.^[2]

Genesis Healthcare merged with Skilled Healthcare Group Inc. on February 2, 2015. This all-stock deal produced one of the nations largest post-acute care operators. The combined company operates more than 500 skilled nursing and assisted/senior living communities in 34 states and more than 1,800 rehab therapy sites in 47 states and the District of Columbia. The combined company employs more than 90,000 employees and has a combined revenue of $5.5 billion. Skilled Healthcare was formally headquartered out of Foothill Ranch, California. The combined company is headquartered out of Kennett Square, Pennsylvania.^[3]

In June 2015, Genesis HealthCare announced plans to acquire 24 skilled nursing facilities from Revera, Inc. The transaction is expected to close on December 1, 2015.^[4]

Leadership

• George V. Hager, Jr - Chief Executive Officer
• Tom DiVittorio - Senior Vice President and Chief Financial Officer
• Robert "Mike" Reitz - Executive Vice President and Chief Operating Officer

Lines of Business

• Center (includes Skilled Nursing, Assisted Living, Short Stay)
• Genesis Rehab Services
• Genesis Physicians Services
• CareerStaff
• Signature Hospice

Locations

Skilled nursing and assisted living facilities in 14 states:

Center Name	City	State
Magnolia Ridge	Gardendale	AL
Fox Hill Center	Rockville	CT
Glendale Center	Naugatuck	CT
Glen Hill Center	Danbury	CT
Groton Regency Center	Groton	CT
Harrington Court	Colchester	CT
Kimberly Hall North	Windsor	CT
Kimberly Hall South	Windsor	CT
Meriden Center	Meriden	CT
Salmon Brook Center	Glastonbury	CT
Skyview Center	Wallingford	CT
The Governors House Center	Simsbury	CT
Churchman Village	Newark	DE
Heritage at Dover	Dover	DE
Heritage at Milford	Milford	DE
Hillside Center	Wilmington	DE
Milford Center	Milford	DE
Seaford Center	Seaford	DE
Lofland Park Center	Seaford	DE
Silver Lake Center	Dover	DE
Pinebrook Center	Venice	FL
Academy Manor	Andover	MA
Apple Valley Center	Ayer	MA
Chelsea Center	Chelsea	MA
Coolidge House	Brookline	MA
Courtyard Nursing Care Center	Medford	MA
Guardian Center	Brockton	MA
Heritage Hall East	Agawam	MA
Heritage Hall North	Agawam	MA
Heritage Hall South	Agawam	MA
Heritage Hall West	Agawam	MA
Heritage Nursing Care Center	Lowell	MA
Heritage Woods	Agawam	MA
Keystone Center	Leominster	MA
Lasell House	Auburndale	MA
Prescott House	North Andover	MA
Sarah S. Brayton Nursing Center	Fall River	MA
Somerset Ridge Center	Somerset	MA
Sutton Hill Center	North Andover	MA
Wachusett Manor	Gardner	MA
Westford House	Westford	MA
Willow Manor	Lowell	MA
Bradford Oaks Center	Clinton	MD
PowerBack Rehabilitation	Lutherville	MD
Caton Manor	Baltimore	MD
Catonsville Commons	Baltimore	MD
Chesapeake Woods Center	Cambridge	MD
College View Center	Frederick	MD
Corsica Hills Center	Centerville	MD
Crescent Cities Center	Riverdale	MD
Cromwell Center	Baltimore	MD
Fairland Center	Silver Spring	MD
Franklin Woods Center	Baltimore	MD
Glade Valley Center	Walkersville	MD
Hamilton Center	Baltimore	MD
Hammonds Lane Center	Brooklyn Park	MD
Heritage Center - MD	Dundalk	MD
Homewood Center	Baltimore	MD
Kingshire Manor Assisted Living	Rockville	MD
Knollwood Manor	Millersville	MD
La Plata Center	La Plata	MD
Layhill Center	Silver Spring	MD
Loch Raven Center	Baltimore	MD
Long Green Center	Baltimore	MD
Magnolia Center	Lanham	MD
Multi-Medical Center	Towson	MD
Perring Parkway Center	Baltimore	MD
Pines, The	Easton	MD
Randallstown Center	Randallstown	MD
Salisbury Rehabilitation and Nursing Center	Salisbury	MD
Severna Park Center	Severna Park	MD
Shady Grove Center	Rockville	MD
Sligo Creek Center	Takoma Park	MD
Spa Creek Center	Annapolis	MD
Springbrook Center - MD	Silver Spring	MD
Waldorf Center	Waldorf	MD
Woodside Center	Silver Spring	MD
Cedar Ridge Center - ME	Skowhegan	ME
Harbor Hill Center	Belfast	ME
Marshwood Center	Lewiston	ME
Oak Grove Center	Waterville	ME
Orono Commons	Orono	ME
Pine Point Center	Scarborough	ME
RiverRidge Center	Kennebunk	ME
Sandy River Center	Farmington	ME
Sedgewood Commons	Falmouth	ME
Springbrook Center - ME	Westbrook	ME
Windward Gardens	Camden	ME
Mooresville Center	Mooresville	NC
Salisbury Center - NC	Salisbury	NC
Country Village Center	Lancaster	NH
Elm Wood Center	Claremont	NH
Granite Ledges of Concord	Concord	NH
Harris Hill Center	Concord	NH
Holton Point	Lancaster	NH
Keene Center	Keene	NH
Laconia Rehabilitation Center	Laconia	NH
Lafayette Center	Franconia	NH
Lebanon Center	Lebanon	NH
Mountain Ridge Center	Franklin	NH
Oceanside Center	Hampton	NH
Partridge House	Hampton	NH
Pleasant View Center	Concord	NH
Pleasant View Retirement	Concord	NH
Colonial Hill Center	Rochester	NH
Ridgewood Center - NH	Bedford	NH
Arbor Glen Center	Cedar Grove	NJ
Barn Hill Care Center	Newton	NJ
Brakeley Park Center	Phillipsburg	NJ
Burlington Woods	Burlington	NJ
Cinnaminson Center	Cinnaminson	NJ
Claremont Center	Point Pleasant	NJ
Cooper River West	Pennsauken	NJ
Cranbury Center	Monroe Township	NJ
Heritage at Clara Barton	Edison	NJ
Holly Manor Center	Mendham	NJ
Inglemoor Center	Englewood	NJ
Jersey Shore Center	Eatontown	NJ
Kresson View Center	Voorhees	NJ
Lopatcong Center	Phillipsburg	NJ
Madison Center - NJ	Matawan	NJ
Maple Glen Center	Fair Lawn	NJ
Marcella Center	Burlington	NJ
Mercerville Center	Mercerville	NJ
Millville Center	Millville	NJ
Morris Hills Center	Morristown	NJ
North Cape Center	North Cape May	NJ
Park Place Center	Monmouth Junction	NJ
Phillipsburg Center	Phillipsburg	NJ
Residence at Forsgate, The	Monroe Township	NJ
Ridgewood Center - NJ	Ridgewood	NJ
Southern Ocean Center	Manahawkin	NJ
Summit Ridge Center	West Orange	NJ
Troy Hills Center	Parsippany	NJ
Victoria Commons	North Cape May	NJ
Victoria Manor	North Cape May	NJ
Voorhees Center	Voorhees	NJ
Waterview Center	Cedar Grove	NJ
Westfield Center	Westfield	NJ
Woodlands, The	Plainfield	NJ
Abington Manor	Clarks Summit	PA
Belvedere Center, The	Chester	PA
Berkshire Center	Reading	PA
Berkshire Commons	Reading	PA
Brandywine Hall	West Chester	PA
Brinton Manor	Glen Mills	PA
Carbondale Nursing and Rehabilitation Center	Carbondale	PA
Chapel Manor	Philadelphia	PA
Crestview Center	Langhorne	PA
Edgehill Nursing and Rehabilitation Center	Glenside	PA
Fairview Care Center of Bethlehem Pike	Philadelphia	PA
Fairview Care Center of Paper Mill Road	Glenside	PA
Garden Spring Center	Willow Grove	PA
Genesis HealthCare at Spring Mill	Phoenixville	PA
Gettysburg Center	Gettysburg	PA
Hamilton Arms Center	Lancaster	PA
Harston Hall	Flourtown	PA
Highgate at Paoli Pointe	Paoli	PA
Highland Center	Brackenridge	PA
Hillcrest Center	Wyncote	PA
Hopkins Center	Wyncote	PA
Laurel Center - PA	Hamburg	PA
Laurel Ridge Center	Uniontown	PA
Lehigh Center	Macungie	PA
Lehigh Commons	Macungie	PA
Liberty Court	Philadelphia	PA
Linwood Nursing and Rehabilitation Center	Scranton	PA
MapleShade Meadows	Nesquehoning	PA
Mifflin Center	Shillington	PA
Mifflin Court	Shillington	PA
Naamans Creek Country Manor	Garnet Valley	PA
Neshaminy Manor	Warrington	PA
The Oaks	Wyncote	PA
Orwigsburg Center	Orwigsburg	PA
Pennsburg Manor	Pennsburg	PA
Pennypack Center	Philadelphia	PA
Quakertown Center	Quakertown	PA
Residences at Chestnut Ridge	Chester	PA
Rittenhouse Pine Center	Norristown	PA
Riverstreet Manor	Wilkes-Barre	PA
Riverview Ridge	Wilkes-Barre	PA
Rose View Center	Williamsport	PA
Rose View Court	Williamsport	PA
Sanatoga Center	Pottstown	PA
Sanatoga Court	Pottstown	PA
Schuylkill Center	Pottsville	PA
Silver Stream Center	Spring House	PA
Somerton Center	Philadelphia	PA
Wayne Center	Wayne	PA
Willow Ridge Center	Hatboro	PA
Willowbrook, The	Clarks Summit	PA
Coventry Center	Coventry	RI
Grand Islander Center	Middletown	RI
Grandview Center	Cumberland	RI
Greenville Center	Smithfield	RI
Kent Regency Center	Warwick	RI
Pawtucket Center	Pawtucket	RI
Warren Center	Warren	RI
Potomac Center	Arlington	VA
Westwood Center	Bluefield	VA
Woodmont Center	Fredericksburg	VA
Bel-Aire Center	Newport	VT
Mountain View Center	Rutland	VT
Rutland Healthcare and Rehabilitation Center	Rutland	VT
Rutland Manor	Rutland	VT
Saint Albans Healthcare and Rehabilitation Center	St. Albans	VT
Ansted Center	Ansted	WV
Brightwood Center - WV	Follansbee	WV
Canterbury Center	Shepherdstown	WV
Care Haven Center	Martinsburg	WV
Cedar Ridge Center - WV	Sissonville	WV
Dawn View Center	Fort Ashby	WV
Hampshire Center	Romney	WV
Heritage Center - WV	Huntington	WV
Hidden Valley Center	Oak Hill	WV
Hilltop Center	Hilltop	WV
Logan Center	Logan	WV
Madison Center - WV	Morgantown	WV
Marmet Center	Marmet	WV
Miletree Center	Spencer	WV
Oak Ridge Center	Charleston	WV
Pierpont Center at Fairmont Campus	Fairmont	WV
Pocahontas Center	Marlinton	WV
Quarry Manor	Charleston	WV
Raleigh Center	Daniels	WV
Ravenswood Village - WV	Ravenswood	WV
Regency Place	Scott Depot	WV
Rosewood Center	Grafton	WV
Seasons, The	Lewisburg	WV
Shenandoah Center	Charles Town	WV
Sistersville Center	Sistersville	WV
Summit at Hidden Valley, The	Oak Hill	WV
Teays Valley Center	Hurricane	WV
Tygart Center at Fairmont Campus	Fairmont	WV
Valley Center	South Charleston	WV
White Sulphur Springs Center	White Sulphur Springs	WV
Willows Center	Parkersburg	WV
Wishing Well Assisted Living Community at Fairmont Campus	Fairmont	WV

References

1. Formation, JER buy Genesis Health for $1.52 bln | Reuters
2. "Genesis HealthCare Acquires Sun Healthcare Group, Inc.". www.prnewswire.com. Retrieved 2015-10-08.
3. "Genesis and Skilled Healthcare Group merger creates $5.5B post-acute care company - Philadelphia Business Journal". Philadelphia Business Journal. Retrieved 2015-10-08.
4. "Genesis HealthCare To Acquire 24 Skilled Nursing Facilities From Revera Inc.". www.prnewswire.com. Retrieved 2015-10-08.

External links

• Official website
• Definition of a Skilled Nursing Facility
• Formation Capital website
• Formation, JER buy Genesis Health for $1.52 bln - Reuters