It’s no surprise that Genesis HealthCare has seen a significant drop in its share value as a result of Covid-19. The company owns and operates facilities that care for a medically-complex population that is most vulnerable to the virus, which is a huge risk in itself. The horrifying situation at a Life Care Centers facility in Kirkland, Washington, where 129 cases […]
CIT Group Inc. announced its involvement in New Generation Health LLC’s takeover of 19 senior care facilities previously operated by Genesis HealthCare, leading the way on a nearly $100 million financing package. The facilities are located in California, Washington and Nevada and include skilled nursing, assisted living and behavioral health assets. New Generation assumed operational […]
Genesis HealthCare continues to pare down its skilled nursing portfolio, putting the leaner company on surer financial and operational footing. The provider entered into a series of agreements with New Generation Health, LLC to transition operational responsibility for 19 facilities in California, Washington and Nevada. For six of those facilities, Genesis sold both the real […]
Genesis HealthCare announced additional changes to its capital structure and leased interests in skilled nursing facilities, all for the better. Genesis has partnered with a private investor to purchase 18 nursing facilities previously leased from Welltower and Second Spring Healthcare Investments. Genesis will have a 30% equity stake in these 18 facilities, and lease them […]
Average prices per bed ticked up over the past four quarters, and Genesis Healthcare posted better results. In this month’s SeniorCare Investor, I talked about the recent rise in the average price per bed for skilled nursing facilities for the most recent trailing four quarters. A small rise, but up nonetheless. Perhaps the start of […]
Joe Shallow, Vice President of Prestige Group, represented a Midwest not-for-profit health system in its disposition of a 92-bed skilled nursing facility in Aledo, Illinois (Quad City area) to a private, for-profit owner, which Mr. Shallow sourced as well. Genesis Health System (not to be confused with for-profit Genesis HealthCare) had owned the facility which […]
After several years of declining occupancy, operations seem to be stabilizing at the largest skilled nursing provider in the country. It has not been an easy past few years for Genesis Healthcare, or for the entire skilled nursing sector. But we always thought there would be some light at the end of the tunnel, and […]
As it continues to improve its capital structure and rationalize its lease exposure, Genesis HealthCare has joint ventured with Next Healthcare Capital to buy 15 skilled nursing facilities with 2,147 total beds previously leased from Welltower located in Pennsylvania (6), New Jersey (4), Connecticut (3), West Virginia and Massachusetts. Genesis will own a 46% stake […]
Wow. It is amazing what a short analyst report can do to a stock, when it upgrades the recommendation to “Buy” with a price target that is 50% above the current price. That is what happened to Genesis Healthcare yesterday, after Chad Vanacore of Stifel wrote about the company and the improved outlook for skilled […]
Evans Senior Investments displayed some variety in its two latest transactions. First, the firm closed the sale of a 30-unit/60-bed memory care community located about five miles southwest of Las Vegas, Nevada. Built in 2010, the community was formerly owned and operated by Genesis Healthcare, and although it had 100% private pay residents, occupancy was […]