


Genesis HealthCare Makes Changes
Just after announcing that its CEO would be stepping down, Genesis HealthCare revealed more changes. The current COO, Paul Bach, the Chief Nursing Officer, JoAnne Reifsnyder, and the CFO, Tom DiVittorio, have all announced they will be leaving the company. They have spent the past 38 years, 10 years and 25 years, respectively, at the company, so a lot of institutional knowledge will be walking out the door. The new COO will be Melissa Powell, who most recently was the President and COO of The Allure Group, a New York City-based nursing home operator. Orrin Feingold joins Genesis as the new CFO. He has had similar positions... Read More »
Genesis HealthCare Sells SNF in Indianapolis
Decatur Township Center, a skilled nursing facility, has changed ownership. Formerly owned and operated by Genesis HealthCare, the 88-bed subacute and skilled nursing facility, renamed Chalet Rehabilitation and Healthcare, offers a wide range of services, including long- and short-term care, rehabilitation and more. It was built in 1975 on five acres and was acquired by Genesis from Sabra Health Care REIT in 2017 for an undisclosed price. The new ownership team is a group of skilled nursing facility managers and operators based in Indiana and the Midwest. The group has extensive expertise running similar-sized facilities in rural and suburban areas throughout the region. The change in... Read More »
The Ups and Downs of Genesis Healthcare
Two weeks ago, we reported on the restructuring that is taking place at Genesis Healthcare, with the infusion of new capital that will eventually take this new investor to a fully diluted ownership interest in excess of 40%. That news sent the share price tumbling 47% to a low of $0.43 per share. Trading volume over two days was more than 59 million shares, or more than 53% of the total float. Then, a week later, the share price jumped by 48% mid-day to a high of $0.74 per share, ending the day at an increase of “just” 20%. Trading volume on that day? A mere 73 million shares, or about two-thirds of the float. The day before and the day after that momentous day, another 26... Read More »