Genesis Healthcare Corporation (www.GenesisHCC.com)
A healthcare industry giant made even healthier,
and strategically positioned for profitable re-sale.
In 2007, a separate SCD-affiliated company, Senior Care Holdings, LLC (SCH), invested in a Formation Capital-led deal to take Genesis HealthCare Corporation (GHC) private for approximately $1.4 billion. GHC, one of the largest providers of healthcare and support services
to the elderly in the United States, focuses on the primary medical, physical and behavioral issues faced by the medically complex elderly population. GHC is a leader in two primary business segments:
- Inpatient Services – provided through approximately 210 nursing and assisted living centers housing more than 25,800 beds primarily located in the eastern United States.
- Rehabilitation Therapy Services – as one of the largest and strongest rehabilitation organizations in the country, GHC serves over 900 skilled nursing centers, assisted living facilities,
hospitals, home health companies, adult day care programs and outpatient clinics.
In 2011, with the re-emergence of the healthcare REIT market, the investment group led by Formation Capital sold its Genesis properties to Health Care REIT
(www.hcreit.com) while retaining the operating company. Genesis Health Care is the 5th largest nursing home manager in the country and has annual revenues of approximately 3 billion dollars. David Reis is a board member of the newly reconstituted Genesis board and continues to help oversee its growth.
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