Genesis Healthcare Gets Private-Equity Investment for Nursing Homes
Genesis Healthcare Inc., a major national nursing home operator that has long struggled financially, announced Wednesday that it will delist its shares from the New York Stock Exchange and receive an investment that could give a New York private-equity firm control of the Kennett Square company. ReGen Healthcare LLC, a new private-equity-backed firm, has agreed to invest $50 million in Genesis, with the possibility of investing $25 million more by April 15. If both deals are completed, ReGen would control 43% of Genesis’s shares.