Genesis HealthCare sold for $1.7 billion
Contemporary Long-Term Care Weekly, January 17, 2007
On January 16, Genesis HealthCare Corporation announced that Formation Capital and JER Partners will acquire the company for a $1.7 billion deal, according to a Genesis press release. Under this all-cash transaction for $63 a share, Genesis will keep its name but now operate as a privately held, independent company. Formation Capital and JER Partners is acquiring over 200 skilled nursing facilities and assisted living residences in 13 states. The transaction value includes Genesis' $450 million of debt, according the press release.
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