ProMedica previously owned and operated the nursing homes under agreement with real estate investment trust Welltower.
In March 2021, Genesis came under the control of ReGen Healthcare LLC, a private-equity- firm. ReGen is affiliated with Pinta Capital Partners, a private equity firm founded by Allure Group owner Joel Landau.
Chief Operating Officer Melissa Powell (pictured) told the McKnight’s Business Daily:
“This transition marks the largest expansion of services provided by Genesis and its affiliates since the organization underwent a transformation into a market model approach in the delivery of patient care.”
Welltower still owns most of Genesis’ real estate. Welltower bought the real estate assets for $2.4 billion in 2011.