Genesis HealthCare Corporation (www.GenesisHCC.com)
A healthcare giant's growth strategy.

When a pattern of consistent and aggressive growth marks a company’s recent past, it becomes prologue to a bright and robust future.

In 2007, a separate SCD-affiliated company, Senior Care Holdings, LLC (SCH), invested in a  deal to take Genesis HealthCare Corporation (GHC) private for approximately $1.4 billion. GHC, one of the largest providers of healthcare and support services to the elderly in the United States, focused on the primary medical, physical and behavioral issues faced by the medically complex elderly population. GHC was a leader in two primary business segments:

1. Inpatient Services – provided through approximately 210 nursing and assisted living centers housing more than 25,800 beds primarily located in the eastern United States.
2. Rehabilitation Therapy Services – as one of the largest and strongest rehabilitation organizations in the country, GHC was serving over 1,000 skilled nursing centers, assisted living facilities, hospitals, home health companies, adult day care programs and outpatient clinics

In 2011, with the re-emergence of the healthcare REIT (www.hcreit.com) market, the investment group sold its Genesis properties to HealthCare REIT while retaining the operating company. Genesis HealthCare was then the 5th largest nursing home manager in the country with annual revenues of approximately $3.0 billion.

This clear growth objective led to Genesis HealthCare's acquisition of the publicly traded Sun HealthCare Group, Inc., a transaction completed in December of 2012. The merger of the two companies created the largest skilled nursing provider in the country, with 422 skilled nursing centers in 29 states. It also expanded Genesis HealthCare's rehabilitation therapy business to more than 1,500 contracts in 46 states. The new company boasted nearly 80,000 employees and combined annual revenue of approximately $4.6 billion.

The culmination of the Genesis growth strategy came in February of 2015, when its previously announced combination with Skilled Healthcare Group, Inc. was finalized. This bold stroke adds the skilled nursing facilities, assisted and independent living centers, and hospice and home health agencies operated by Skilled Healthcare’s subsidiaries, as well as its Hallmark Rehabilitation business, to the Genesis family.

The combination of the two companies has created one of the largest post-acute care providers in the country, with management services and/or ownership of more than 500 skilled nursing and assisted/senior living communities in 34 states. It also expands Genesis’ rehabilitation therapy business—Genesis Rehab Services—to more than 1,800 service locations in 47 states and the District of Columbia.  David Reis was a member of the Board of Directors, until he declined to serve another term in June 2019.

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