GE Capital Finances Genesis Healthcare’s Acquisition of California Firm
GE Capital’s Healthcare Financial Services business announced it was sole bookrunner in providing a $550 million revolving line of credit to Genesis Healthcare, Inc. of Kennett Square as Genesis completed its merger with Skilled Healthcare Group, Inc.
“We’ve had a long-term relationship with GE Capital so it was natural for us to turn to them at such a critical time,” said Tom DiVittorio, Genesis senior vice president and CFO.
“Their understanding of our business and the healthcare industry overall enabled us to further expand the services we provide to patients and residents nationwide.”
Genesis is one of the nation’s largest post-acute care providers with more than 500 skilled nursing centers and assisted/senior living communities in 34 states nationwide. Genesis subsidiaries also supply rehabilitation and respiratory therapy to more than 1,800 healthcare providers in 47 states and the District of Columbia.
Previous coverage of Genesis Healthcare’s merger with Skilled Healthcare Group on VISTA Today here.
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