Genesis keeps expanding. Genesis Healthcare confirmed the company added 34 skilled nursing facilities in Pennsylvania and four in Colorado. The national for-profit chain is now one of the largest.
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.