Genesis HealthCare

Genesis HealthCare
Public
Traded as 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

Lines of Business

Locations

Skilled nursing and assisted living facilities in 13 states:

Center Name City State
Fox Hill CenterRockvilleCT
Glendale CenterNaugatuckCT
Glen Hill CenterDanburyCT
Groton Regency CenterGrotonCT
Harrington CourtColchesterCT
Kimberly Hall NorthWindsorCT
Kimberly Hall SouthWindsorCT
Meriden CenterMeridenCT
Salmon Brook CenterGlastonburyCT
Skyview CenterWallingfordCT
Churchman VillageNewarkDE
Heritage at DoverDoverDE
Heritage at MilfordMilfordDE
Hillside CenterWilmingtonDE
Milford CenterMilfordDE
Seaford CenterSeafordDE
Lofland Park CenterSeafordDE
Silver Lake CenterDoverDE
Pinebrook CenterVeniceFL Academy ManorAndoverMA
Apple Valley CenterAyerMA
Chelsea CenterChelseaMA
Coolidge HouseBrooklineMA
Courtyard Nursing Care CenterMedfordMA
Guardian CenterBrocktonMA
Heritage Hall EastAgawamMA
Heritage Hall NorthAgawamMA
Heritage Hall SouthAgawamMA
Heritage Hall WestAgawamMA
Heritage Nursing Care CenterLowellMA
Heritage WoodsAgawamMA
Keystone CenterLeominsterMA
Lasell HouseAuburndaleMA
Prescott HouseNorth AndoverMA
Sarah S. Brayton Nursing CenterFall RiverMA
Somerset Ridge CenterSomersetMA
Sutton Hill CenterNorth AndoverMA
Wachusett ManorGardnerMA
Westford HouseWestfordMA
Willow ManorLowellMA
Bradford Oaks CenterClintonMD
PowerBack RehabilitationLuthervilleMD
Caton ManorBaltimoreMD
Catonsville CommonsBaltimoreMD
Chesapeake Woods CenterCambridgeMD
College View CenterFrederickMD
Corsica Hills CenterCentervilleMD
Crescent Cities CenterRiverdaleMD
Cromwell CenterBaltimoreMD
Fairland CenterSilver SpringMD
Franklin Woods CenterBaltimoreMD
Glade Valley CenterWalkersvilleMD
Hamilton CenterBaltimoreMD
Hammonds Lane CenterBrooklyn ParkMD
Heritage Center - MDDundalkMD
Homewood CenterBaltimoreMD
Kingshire Manor Assisted LivingRockvilleMD
Knollwood ManorMillersvilleMD
La Plata CenterLa PlataMD
Layhill CenterSilver SpringMD
Loch Raven CenterBaltimoreMD
Long Green CenterBaltimoreMD
Magnolia CenterLanhamMD
Multi-Medical CenterTowsonMD
Perring Parkway CenterBaltimoreMD
Pines, TheEastonMD
Randallstown CenterRandallstownMD
Salisbury Rehabilitation and Nursing CenterSalisburyMD
Severna Park CenterSeverna ParkMD
Shady Grove CenterRockvilleMD
Sligo Creek CenterTakoma ParkMD
Spa Creek CenterAnnapolisMD
Springbrook Center - MDSilver SpringMD
Waldorf CenterWaldorfMD
Woodside CenterSilver SpringMD
Cedar Ridge Center - MESkowheganME
Harbor Hill CenterBelfastME
Marshwood CenterLewistonME
Oak Grove CenterWatervilleME
Orono CommonsOronoME
Pine Point CenterScarboroughME
RiverRidge CenterKennebunkME
Sandy River CenterFarmingtonME
Sedgewood CommonsFalmouthME
Springbrook Center - MEWestbrookME
Windward GardensCamdenME
Mooresville CenterMooresvilleNC
Salisbury Center - NCSalisburyNC
Country Village CenterLancasterNH
Elm Wood CenterClaremontNH
Granite Ledges of ConcordConcordNH
Harris Hill CenterConcordNH
Holton PointLancasterNH
Keene CenterKeeneNH
Laconia Rehabilitation CenterLaconiaNH
Lafayette CenterFranconiaNH
Lebanon CenterLebanonNH
Mountain Ridge CenterFranklinNH
Oceanside CenterHamptonNH
Partridge HouseHamptonNH
Pleasant View CenterConcordNH
Pleasant View RetirementConcordNH
Ridgewood Center - NHBedfordNH
Arbor Glen CenterCedar GroveNJ
Barn Hill Care CenterNewtonNJ
Brakeley Park CenterPhillipsburgNJ
Burlington WoodsBurlingtonNJ
Cinnaminson CenterCinnaminsonNJ
Claremont CenterPoint PleasantNJ
Cooper River WestPennsaukenNJ
Cranbury CenterMonroe TownshipNJ
Heritage at Clara BartonEdisonNJ
Holly Manor CenterMendhamNJ
Inglemoor CenterEnglewoodNJ
Jersey Shore CenterEatontownNJ
Kresson View CenterVoorheesNJ
Lopatcong CenterPhillipsburgNJ
Madison Center - NJMatawanNJ
Maple Glen CenterFair LawnNJ
Marcella CenterBurlingtonNJ
Mercerville CenterMercervilleNJ
Millville CenterMillvilleNJ
Morris Hills CenterMorristownNJ
North Cape CenterNorth Cape MayNJ
Park Place CenterMonmouth JunctionNJ
Phillipsburg CenterPhillipsburgNJ
Residence at Forsgate, TheMonroe TownshipNJ
Ridgewood Center - NJRidgewoodNJ
Southern Ocean CenterManahawkinNJ
Summit Ridge CenterWest OrangeNJ
Troy Hills CenterParsippanyNJ
Victoria CommonsNorth Cape MayNJ
Victoria ManorNorth Cape MayNJ
Voorhees CenterVoorheesNJ
Waterview CenterCedar GroveNJ
Westfield CenterWestfieldNJ
Woodlands, ThePlainfieldNJ
Abington ManorClarks SummitPA
Belvedere Center, TheChesterPA
Berkshire CenterReadingPA
Berkshire CommonsReadingPA
Brandywine HallWest ChesterPA
Brinton ManorGlen MillsPA
Carbondale Nursing and Rehabilitation CenterCarbondalePA
Chapel ManorPhiladelphiaPA
Crestview CenterLanghornePA
Edgehill Nursing and Rehabilitation CenterGlensidePA
Fairview Care Center of Bethlehem PikePhiladelphiaPA
Fairview Care Center of Paper Mill RoadGlensidePA
Garden Spring CenterWillow GrovePA
Genesis HealthCare at Spring MillPhoenixvillePA
Gettysburg CenterGettysburgPA
Hamilton Arms CenterLancasterPA
Harston HallFlourtownPA
Highgate at Paoli PointePaoliPA
Highland CenterBrackenridgePA
Hillcrest CenterWyncotePA
Hopkins CenterWyncotePA
Laurel Center - PAHamburgPA
Laurel Ridge CenterUniontownPA
Lehigh CenterMacungiePA
Lehigh CommonsMacungiePA
Liberty CourtPhiladelphiaPA
Linwood Nursing and Rehabilitation CenterScrantonPA
MapleShade MeadowsNesquehoningPA
Mifflin CenterShillingtonPA
Mifflin CourtShillingtonPA
Naamans Creek Country ManorGarnet ValleyPA
Neshaminy ManorWarringtonPA
The OaksWyncotePA
Orwigsburg CenterOrwigsburgPA
Pennsburg ManorPennsburgPA
Pennypack CenterPhiladelphiaPA
Quakertown CenterQuakertownPA
Residences at Chestnut RidgeChesterPA
Rittenhouse Pine CenterNorristownPA
Riverstreet ManorWilkes-BarrePA
Riverview RidgeWilkes-BarrePA
Rose View CenterWilliamsportPA
Rose View CourtWilliamsportPA
Sanatoga CenterPottstownPA
Sanatoga CourtPottstownPA
Schuylkill CenterPottsvillePA
Silver Stream CenterSpring HousePA
Somerton CenterPhiladelphiaPA
Wayne CenterWaynePA
Willow Ridge CenterHatboroPA
Willowbrook, TheClarks SummitPA
Coventry CenterCoventryRI
Grand Islander CenterMiddletownRI
Grandview CenterCumberlandRI
Greenville CenterSmithfieldRI
Kent Regency CenterWarwickRI
Pawtucket CenterPawtucketRI
Warren CenterWarrenRI
Potomac CenterArlingtonVA
Westwood CenterBluefieldVA
Woodmont CenterFredericksburgVA
Bel-Aire CenterNewportVT
Mountain View CenterRutlandVT
Rutland Healthcare and Rehabilitation CenterRutlandVT
Rutland ManorRutlandVT
Saint Albans Healthcare and Rehabilitation CenterSt. AlbansVT
Ansted CenterAnstedWV
Brightwood Center - WVFollansbeeWV
Canterbury CenterShepherdstownWV
Care Haven CenterMartinsburgWV
Cedar Ridge Center - WVSissonvilleWV
Dawn View CenterFort AshbyWV
Hampshire CenterRomneyWV
Heritage Center - WVHuntingtonWV
Hidden Valley CenterOak HillWV
Hilltop CenterHilltopWV
Logan CenterLoganWV
Madison Center - WVMorgantownWV
Marmet CenterMarmetWV
Miletree CenterSpencerWV
Oak Ridge CenterCharlestonWV
Pierpont Center at Fairmont CampusFairmontWV
Pocahontas CenterMarlintonWV
Quarry ManorCharlestonWV
Raleigh CenterDanielsWV
Ravenswood Village - WVRavenswoodWV
Regency PlaceScott DepotWV
Rosewood CenterGraftonWV
Seasons, TheLewisburgWV
Shenandoah CenterCharles TownWV
Sistersville CenterSistersvilleWV
Summit at Hidden Valley, TheOak HillWV
Teays Valley CenterHurricaneWV
Tygart Center at Fairmont CampusFairmontWV
Valley CenterSouth CharlestonWV
White Sulphur Springs CenterWhite Sulphur SpringsWV
Willows CenterParkersburgWV
Wishing Well Assisted Living Community at Fairmont CampusFairmontWV

References

External links

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