Genesis Inks $79M Deal to Cede Control of 19 Facilities — While Still Providing Back-End Support, Therapy
February 7, 2020 | Assisted Living Administrator CEUs, Nursing Home Administrator CEUs, Nursing Home Administrator continuing education courses | No Comments
Genesis HealthCare (NYSE: GEN) on Tuesday announced a set of deals that will see the skilled nursing giant transfer control of 19 facilities in the West to a regional operator — while also still serving as a provider of back-office support and ancillary services.
Under the terms of the $79 million transaction, the Los Angeles-based New Generation Health, LLC purchased the operations and real estate associated with six skilled nursing facilities.
New Generation also assumed full operational responsibility for 13 more properties — seven SNFs, five behavioral health centers, and one assisted living community — in California, Nevada, and Washington state.