Genesis Healthcare, Inc. Completes Merger With Skilled Healthcare Group, Inc.


Genesis HealthCare, LLC of Kennett Square is now a publicly traded company known as Genesis Healthcare, Inc., the company announced Feb. 2.

“This is an exciting time for Genesis as we become a publicly-traded company and further expand the services we provide to patients and residents nationwide,” said George Hager, Genesis CEO.  “We believe the opportunities of scale created by this combination better position Genesis to meet the challenges facing the post-acute industry and enhance the company’s ability to successfully partner with payors and providers across the country.”

Under the terms of the agreement, Skilled Healthcare shareholders will collectively own 25.75 percent of the vote and value of the fully-diluted equity of the combined company.  Shareholders who held interests in Genesis will own the other 74.25 percent.

The combined company will be traded on the NYSE with the new ticker symbol  GEN.  Headquarters for the combined company will remain in Kennett Square.  The company’s post-combination board of directors consists of representative directors from both companies, as well as independent directors.

The merger has created one of the largest post-acute care providers in the country, with more than 500 skilled nursing and assisted/senior living communities in 34 states.  It has also expanded Genesis’ rehabilitation therapy business, Genesis Rehab Services, to more than 1,800 service locations in 47 states and the District of Columbia.  The new company will have nearly 95,000 employees and had combined annual revenue of approximately $5.5 billion on a trailing twelve month basis as of Sept. 30, 2014.

Top photo credit: U.S. Customs and Border Protection Commissioner R. Gil Kerlikowske Closes the NYSE via photopin (license)

Connect With Your Community

Subscribe to stay informed!

"*" indicates required fields

This field is for validation purposes and should be left unchanged.