Kennett Square, PA – Genesis HealthCare (Genesis), one of the nation’s largest providers of post-acute care, today announced that, effective December 1, 2015, it has completed its previously announced transaction with Revera Inc. (Revera), a leading owner, operator and investor in the senior living sector. Genesis now operates or manages 24 of Revera’s facilities across nine states and Premier Therapy, Revera’s contract rehabilitation business.
\r\n
\r\nEffective December 1, 2015, Genesis acquired the real estate of 15 Revera facilities across eight states and added four properties into its master lease with Welltower Inc. Genesis awaits regulatory approval on five facilities in the state of Vermont and has entered into separate agreements to manage these facilities in the interim. If Genesis receives regulatory approval from the state of Vermont, Genesis expects to complete the acquisition of the Vermont real estate.
\r\n
\r\nGenesis financed the transaction utilizing funding from the master lease and a bridge loan from Welltower Inc. and expects to subsequently refinance the bridge loan utilizing HUD guaranteed mortgage financing. The acquisition is expected to contribute $34.0 million in annual EBITDAR, including the operations of the Vermont facilities.
\r\n
\r\n“We are excited to further expand the services we provide to patients and residents in our core markets,” stated George V. Hager, Jr., Chief Executive Officer of Genesis. “Revera has a very strong history of operational performance, well-cared for buildings and extraordinary, talented people. We are thrilled to welcome the Revera team to the Genesis family.”
\r\n
\r\nThe 24 centers are located in the following states: eight in New Jersey, five in Vermont, three in Washington, two in Connecticut, two in Massachusetts and one in each of Maryland, Virginia, New Hampshire and Rhode Island. The 24 centers employ approximately 3,800 full and part-time employees and had aggregate revenue totaling approximately $280 million in 2014.
\r\n
\r\nAbout Genesis HealthCare
\r\nGenesis HealthCare (NYSE: GEN) is a holding company with subsidiaries that, on a combined basis, comprise 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 1,700 healthcare providers in 45 states and the District of Columbia. References made in this release to \"Genesis,\" \"the Company,\" \"we,\" \"us\" and \"our\" refer to Genesis Healthcare, Inc. and each of its wholly-owned companies. Visit our website at www.genesishcc.com.
\r\n\r\n
\r\n"},"created":"2019-11-25T17:58:05+00:00"},"allMenuLinkContentMenuLinkContent":{"edges":[{"node":{"title":"Investors","link":{"uri":"internal:/investor-relations"},"menu_name":"about-us"}},{"node":{"title":"About Genesis HealthCare","link":{"uri":"internal:/about-us"},"menu_name":"about-us"}},{"node":{"title":"Earnings Release","link":{"uri":"internal:/investor-relations/earnings-release"},"menu_name":"investor-relations"}},{"node":{"title":"Corporate Governance","link":{"uri":"internal:/investor-relations/corporate-governance"},"menu_name":"investor-relations"}},{"node":{"title":"SEC Filings","link":{"uri":"internal:/investor-relations/sec-filings"},"menu_name":"investor-relations"}},{"node":{"title":"Events & Presentations","link":{"uri":"internal:/investor-relations/events-presentations"},"menu_name":"investor-relations"}},{"node":{"title":"Annual Report & Proxy","link":{"uri":"internal:/investor-relations/annual-report-proxy"},"menu_name":"investor-relations"}},{"node":{"title":"Management","link":{"uri":"internal:/about-us/company-profile/leadership-team"},"menu_name":"investor-relations"}},{"node":{"title":"Analyst Coverage","link":{"uri":"internal:/investor-relations/stock-information/analyst-coverage"},"menu_name":"investor-relations"}},{"node":{"title":"Press","link":{"uri":"internal:/about-us/press/press-releases"},"menu_name":"about-us"}},{"node":{"title":"ORDER YOUR POWERBACK CARD","link":{"uri":"internal:/orderyourpowerbackcard"},"menu_name":"powerback-navbar"}},{"node":{"title":"Happenings","link":{"uri":"internal:/happenings"},"menu_name":"main"}},{"node":{"title":"Our Services","link":{"uri":"internal:/our-services/rehabilitation-therapy/our-services"},"menu_name":"our-services"}},{"node":{"title":"Rehabilitation Therapy","link":{"uri":"internal:/our-services/rehabilitation-therapy/rehabilitation-therapy"},"menu_name":"our-services"}},{"node":{"title":"Long Term Care","link":{"uri":"internal:/our-services/rehabilitation-therapy/long-term-care"},"menu_name":"our-services"}},{"node":{"title":"ShortStay Care","link":{"uri":"internal:/our-services/rehabilitation-THErapy/shortstay-care"},"menu_name":"our-services"}},{"node":{"title":"Memory Support","link":{"uri":"internal:/our-services/memory-support"},"menu_name":"our-services"}},{"node":{"title":"Cardiac Management","link":{"uri":"internal:/our-services/rehabilitation-therapy/cardiac-management"},"menu_name":"our-services"}},{"node":{"title":"Assisted/Senior Living","link":{"uri":"internal:/our-services/assisted-senior-living"},"menu_name":"our-services"}},{"node":{"title":"Find a Location","link":{"uri":"internal:/findlocations"},"menu_name":"our-services"}},{"node":{"title":"Hospice Care","link":{"uri":"internal:/our-services/long-term-care/hospice-care"},"menu_name":"our-services"}},{"node":{"title":"Your Stay Overview","link":{"uri":"internal:/your-stay"},"menu_name":"your-stay"}},{"node":{"title":"Company Profile","link":{"uri":"internal:/about-us/company-profile"},"menu_name":"about-us"}},{"node":{"title":"Investor Relations","link":{"uri":"internal:/investor-relations"},"menu_name":"investor-relations"}},{"node":{"title":"Press Releases","link":{"uri":"internal:/about-us/press/press-releases"},"menu_name":"investor-relations"}},{"node":{"title":"Board Of Directors","link":{"uri":"internal:/investor-relations/corporate-governance/board-directors"},"menu_name":"investor-relations"}},{"node":{"title":"Stock Information","link":{"uri":"internal:/investor-relations/stock-information"},"menu_name":"investor-relations"}},{"node":{"title":"FAQs","link":{"uri":"internal:/investor-relations/faqs"},"menu_name":"investor-relations"}},{"node":{"title":"Contact The Board","link":{"uri":"internal:/investor-relations/corporate-governance/contact-the-board"},"menu_name":"investor-relations"}},{"node":{"title":"Leadership Team","link":{"uri":"internal:/about-us/company-profile/leadership-team"},"menu_name":"about-us"}},{"node":{"title":"Press Releases","link":{"uri":"internal:/about-us/press/press-releases"},"menu_name":"about-us"}},{"node":{"title":"Press Kit","link":{"uri":"internal:/about-us/press/press-kit"},"menu_name":"about-us"}},{"node":{"title":"History","link":{"uri":"internal:/about-us/company-profile/history"},"menu_name":"about-us"}},{"node":{"title":"Transitional Care","link":{"uri":"internal:/our-services/rehabilitation-therapy/transitional-care"},"menu_name":"our-services"}},{"node":{"title":"Ventilator Rehabilitation","link":{"uri":"internal:/our-services/rehabilitation-therapy/ventilator-rehabilitation"},"menu_name":"our-services"}},{"node":{"title":"Dialysis ","link":{"uri":"internal:/our-services/rehabilitation-therapy/dialysis"},"menu_name":"our-services"}},{"node":{"title":"Pulmonary Management","link":{"uri":"internal:/our-services/rehabilitation-therapy/pulmonary-management"},"menu_name":"our-services"}},{"node":{"title":"Neurorehabilitation","link":{"uri":"internal:/our-services/rehabilitation-therapy/neurorehabilitation"},"menu_name":"our-services"}},{"node":{"title":"Our Commitment To Quality","link":{"uri":"internal:/our-services/our-commitment-to-quality"},"menu_name":"our-services"}},{"node":{"title":"Types Of Care Available","link":{"uri":"internal:/your-stay/types-of-care-available"},"menu_name":"your-stay"}},{"node":{"title":"Choosing Skilled Nursing Facilities","link":{"uri":"internal:/your-stay/how-to-choose-a-skilled-nursing-facility"},"menu_name":"your-stay"}},{"node":{"title":"Coming To Our Center","link":{"uri":"internal:/your-stay/coming-to-our-center"},"menu_name":"your-stay"}},{"node":{"title":"In Our Care","link":{"uri":"internal:/your-stay/in-our-care"},"menu_name":"your-stay"}},{"node":{"title":"Paying For Care","link":{"uri":"internal:/your-stay/paying-for-your-care"},"menu_name":"your-stay"}},{"node":{"title":"Leaving Our Center","link":{"uri":"internal:/your-stay/leaving-our-center"},"menu_name":"your-stay"}},{"node":{"title":"Business Services","link":{"uri":"internal:/partners/business-services"},"menu_name":"partners"}},{"node":{"title":"Powerback Rehabilitation","link":{"uri":"internal:/partners/business-services/powerback-rehabilitation"},"menu_name":"partners"}},{"node":{"title":"Powerback Respiratory","link":{"uri":"internal:/partners/business-services/powerback-respiratory"},"menu_name":"partners"}},{"node":{"title":"Referral Sources","link":{"uri":"internal:/partners/referral-sources"},"menu_name":"partners"}},{"node":{"title":"Managed Care","link":{"uri":"internal:/partners/managed-care"},"menu_name":"partners"}},{"node":{"title":"LTC ACO","link":{"uri":"https://www.ltcaco.com"},"menu_name":"partners"}},{"node":{"title":"Mission & Core Values","link":{"uri":"internal:/about-us/company-profile/mission-core-values"},"menu_name":"about-us"}},{"node":{"title":"About Us","link":{"uri":"internal:/about-us"},"menu_name":"about-us"}},{"node":{"title":"Business Partners","link":{"uri":"internal:/partners/business-services"},"menu_name":"main"}},{"node":{"title":"Your Stay","link":{"uri":"internal:/your-stay"},"menu_name":"main"}},{"node":{"title":"Services","link":{"uri":"internal:/our-services/rehabilitation-therapy/our-services"},"menu_name":"main"}},{"node":{"title":"Resources","link":{"uri":"internal:/resources"},"menu_name":"main"}},{"node":{"title":"Any content","link":{"uri":"internal:/admin/content"},"menu_name":"tools"}},{"node":{"title":"Home Page","link":{"uri":"internal:/node/67"},"menu_name":"tools"}},{"node":{"title":"Edit stable web pages","link":{"uri":"internal:#"},"menu_name":"tools"}},{"node":{"title":"Board Of Directors","link":{"uri":"internal:/investor-relations/corporate-governance/board-directors"},"menu_name":"tools"}},{"node":{"title":"Leadership Team","link":{"uri":"internal:/about-us/company-profile/leadership-team"},"menu_name":"tools"}},{"node":{"title":"Create Business Services pages","link":{"uri":"internal:/node/add/business_services"},"menu_name":"tools"}},{"node":{"title":"Create About Us pages","link":{"uri":"internal:/node/add/about_us_pages"},"menu_name":"tools"}},{"node":{"title":"Create Center pages","link":{"uri":"internal:/node/add/center"},"menu_name":"tools"}},{"node":{"title":"Create Centers Events","link":{"uri":"internal:/node/add/happenings"},"menu_name":"tools"}},{"node":{"title":"Create Centers News","link":{"uri":"internal:/node/add/centers_happenings_news"},"menu_name":"tools"}},{"node":{"title":"Create Centers content","link":{"uri":"internal:#"},"menu_name":"tools"}},{"node":{"title":"Create other pages","link":{"uri":"internal:#"},"menu_name":"tools"}},{"node":{"title":"Create Corporate Happenings","link":{"uri":"internal:/node/add/corporate_happenings"},"menu_name":"tools"}},{"node":{"title":"Create Earnings Releases","link":{"uri":"internal:/node/add/earnings_releases"},"menu_name":"tools"}},{"node":{"title":"Create Events & Presentations","link":{"uri":"internal:/node/add/events_presentations"},"menu_name":"tools"}},{"node":{"title":"Create Investor Relations","link":{"uri":"internal:/node/add/investor_relations"},"menu_name":"tools"}},{"node":{"title":"Create Our Services pages","link":{"uri":"internal:/node/add/our_services"},"menu_name":"tools"}},{"node":{"title":"Create Basic pages","link":{"uri":"internal:/node/add/page"},"menu_name":"tools"}},{"node":{"title":"Create Page with Accordions","link":{"uri":"internal:/node/add/page_with_accordions"},"menu_name":"tools"}},{"node":{"title":"Create Press Releases","link":{"uri":"internal:/node/add/press_releases"},"menu_name":"tools"}},{"node":{"title":"Create Resources","link":{"uri":"internal:/node/add/resources_corp_"},"menu_name":"tools"}},{"node":{"title":"Create Your Stay pages","link":{"uri":"internal:/node/add/your_stay"},"menu_name":"tools"}},{"node":{"title":"Create News and Lists","link":{"uri":"internal:#"},"menu_name":"tools"}},{"node":{"title":"All Content","link":{"uri":"internal:#"},"menu_name":"tools"}},{"node":{"title":"Centers","link":{"uri":"internal:/admin/content?title=&type=center&status=All"},"menu_name":"tools"}},{"node":{"title":"Centers Events","link":{"uri":"internal:/admin/content?title=&type=happenings&status=All"},"menu_name":"tools"}},{"node":{"title":"Centers News","link":{"uri":"internal:/admin/content?title=&type=centers_happenings_news&status=All"},"menu_name":"tools"}},{"node":{"title":"Create any content","link":{"uri":"internal:/node/add"},"menu_name":"tools"}},{"node":{"title":"Awards and Affiliations","link":{"uri":"internal:/admin/structure/taxonomy/manage/awards_and_affiliations/overview"},"menu_name":"tools"}},{"node":{"title":"Contact Page","link":{"uri":"internal:/contact"},"menu_name":"tools"}},{"node":{"title":"Genesis Physician Services","link":{"uri":"https://www.careerswithgps.com"},"menu_name":"partners"}},{"node":{"title":"CAREERS","link":{"uri":"internal:/careers"},"menu_name":"powerback-main"}},{"node":{"title":"CONTACT","link":{"uri":"internal:/contact"},"menu_name":"powerback-main"}},{"node":{"title":"GETTING YOU HOME FASTER","link":{"uri":"internal:/gettingyouhomefaster"},"menu_name":"powerback-main"}},{"node":{"title":"KNOW WHAT TO DO","link":{"uri":"internal:/knowwhattodo"},"menu_name":"powerback-main"}},{"node":{"title":"LOCATIONS","link":{"uri":"internal:/locations"},"menu_name":"powerback-main"}},{"node":{"title":"NEWS","link":{"uri":"internal:/news"},"menu_name":"powerback-main"}},{"node":{"title":"GETTING YOU HOME FASTER","link":{"uri":"internal:/gettingyouhomefaster"},"menu_name":"powerback-navbar"}},{"node":{"title":"PLANNING GUIDE","link":{"uri":"internal:/knowwhattodo"},"menu_name":"powerback-navbar"}},{"node":{"title":"WHAT TO EXPECT","link":{"uri":"internal:/whattoexpect"},"menu_name":"powerback-navbar"}},{"node":{"title":"POWERBACK SPECIALIST","link":{"uri":"internal:/powerbackspecialists"},"menu_name":"powerback-navbar"}},{"node":{"title":"GUEST SERVICES","link":{"uri":"internal:/guestservices"},"menu_name":"powerback-navbar"}},{"node":{"title":"PATIENT RESOURCES","link":{"uri":"internal:/patientresources"},"menu_name":"powerback-navbar"}},{"node":{"title":"THE ROLE OF THE HOSPITAL DISCHARGE PLANNER","link":{"uri":"internal:/theplanner"},"menu_name":"powerback-navbar"}},{"node":{"title":"CASE STUDIES","link":{"uri":"internal:/pdfs/powerbackcasestudy1.pdf"},"menu_name":"powerback-navbar"}},{"node":{"title":"Powerback","link":{"uri":"internal:#"},"menu_name":"tools"}},{"node":{"title":"Create PWB News","link":{"uri":"internal:/node/add/pwb_news"},"menu_name":"tools"}},{"node":{"title":"List of PWB Basic Pages","link":{"uri":"internal:/admin/content?title=&type=pwb_basic_page&status=All"},"menu_name":"tools"}},{"node":{"title":"Lists of PWB News","link":{"uri":"internal:/admin/content?title=&type=pwb_news&status=All"},"menu_name":"tools"}},{"node":{"title":"Support","link":{"uri":"internal:/support-page"},"menu_name":"tools"}},{"node":{"title":"Career","link":{"uri":"https://www.genesiscareers.jobs/"},"menu_name":"main"}},{"node":{"title":"Center of Clinical Excellence","link":{"uri":"internal:/our-services/center-clinical-excellence"},"menu_name":"our-services"}},{"node":{"title":"American Heart Association Certified Care","link":{"uri":"internal:/our-services/american-heart-association-certified-care"},"menu_name":"our-services"}}]}},"pageContext":{"id":"0c3177b9-33eb-5aad-91ee-e1ca4c2115a8"}},"staticQueryHashes":["1477718674","1581623365","3128451518","66463456"]}