Genesis HealthCare Names Turnaround Specialist Wilson as CEO

Genesis HealthCare (NYSE: GEN) announced Tuesday that Harry Wilson will take the reins as the company’s new CEO. Wilson — a “highly regarded turnaround specialist,” according to Genesis — previously led the restructuring of General Motors on behalf of the U.S. Treasury, and founded the corporate turnaround firm Maeva Group. He replaces Robert Fish, who […]

Welltower Largely Splits With Genesis, Bolsters ProMedica JV in Deals Valued at $880M

Welltower (NYSE:WELL) announced Tuesday it has substantially exited its operating relationship with nursing home giant Genesis HealthCare (NYSE: GEN), with joint-venture health system partner ProMedica picking up some of the operator’s buildings.  In a separate transaction, Toledo, Ohio-based Welltower is divesting 25 properties that it acquired through its 2018 JV with ProMedica. The series of […]

Genesis CEO Hager Retires, Board Chairman Fish Takes the Reins

George Hager Jr. is retiring from his role as CEO and director of Genesis HealthCare (NYSE: GEN), the national nursing home and assisted living company announced Tuesday. The company’s chairman of the board, Robert Fish, has succeeded Hager, effective immediately. Hager will continue to work as an advisor to the board, while Fish will keep […]

Skilled Nursing, Assisted Living Operator Genesis Warns of Possible Bankruptcy

Genesis HealthCare’s (NYSE: GEN) future as a going concern is in “substantial doubt” as a result of financial and operational strains stemming from the coronavirus pandemic — pressures that were brought into stark relief in its second quarter of 2020 earnings. The company’s portfolio of 361 facilities is dominated by skilled nursing but includes 23 […]

Welltower Credits ‘Painful’ Restructuring for Strong Senior Housing Performance

Welltower (NYSE: WELL) posted solid senior housing gains in the third quarter of 2019, thanks in part to the last few years spent unwinding certain “one-sided” relationships while forging new ones under more well-aligned RIDEA structures. That’s according to CEO and Chairman Thomas DeRosa, who on a Tuesday earnings call with investors and analysts laid […]

Benchmark Forms Urban-Focused Wellness Division, Adds New President

Benchmark, one of the largest senior living providers in the U.S. Northeast, is launching a Wellness Management division focused on new, urban communities. Denise McQuaide, who has served in executive roles within senior living and other health care companies over the last 30 years, has been hired to lead the division as president and COO. […]

Sabra CEO: No Reason to Panic Over Senior Housing Downturn

Despite senior housing industry headwinds, don’t expect real estate investment trusts (REITs) to be taking aggressive steps to cut rents or lower escalators for operators as they have been for skilled nursing tenants. That’s according to Rick Matros, CEO of the Irvine, California-based Sabra Health Care REIT (Nasdaq: SBRA). Some other REITs are more focused on […]