Genesis Healthcare Makes First Earnings Report

by | Feb 24, 2015 4:21 pm | 60 Seconds, Opinion

News of higher operating costs sends the shares of newly merged Genesis Healthcare and Skilled Healthcare down more than 20%. Welcome back to the world of public investors. I say this to George Hager and his team at Genesis Healthcare, which closed on the reverse merger with Skilled Healthcare on February 2. Just three weeks later, they reported fourth quarter operating results for both companies, and while the skilled patient day mix at Genesis increased by 60 basis points and occupancy increased 30 basis points from the year ago quarter, Skilled Healthcare’s occupancy declined 110 basis points from the fourth quarter in 2013, to just 81.1%. Sounds a little too similar to the... Read More »