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Nursing homes are used to having a target on their back, but that didn’t make this week’s public floggings any easier to absorb.
Nursing homes are used to having a target on their back, but that didn’t make this week’s public floggings any easier to absorb.
A top U.S. lawmaker on Wednesday intensified her fiery attacks on beleaguered Genesis HealthCare’s issuance of a hefty bonus to a departing long-time CEO, even as the company was flailing amid the devastation of COVID-19 conditions.
The new chief executive officer of post-acute care giant Genesis HealthCare is hoping to steer the company onto a steadier path after months of financial uncertainty caused by the pandemic.
Beleaguered post-acute care giant Genesis HealthCare announced this morning that 17-year CEO George V. Hager Jr. is retiring from his posts as CEO and company director.
Genesis HealthCare endured $60 million in losses directly related to the coronavirus pandemic — despite receiving $64 million in federal and state relief funding during the third quarter, company executives revealed Monday.
Adverse effects from the coronavirus have forced Genesis HealthCare to raise “substantial doubt” about its ability to operate in the near future.
George Hager has brought an astute blend of strategic and tactical skills to his job as the top exec of the largest nursing home operator in the United States.
Genesis HealthCare completed the acquisition of Skilled Healthcare Group on Monday. The combined company will have a new NYSE ticker symbol (GEN) and operate under the name Genesis Healthcare Inc.
Genesis HealthCare and Skilled Healthcare Group will merge to create a single company with more than 500 facilities nationwide, the providers announced in late August.
Staffing has always been a major challenge in the seniors housing and care sector. And a new health insurance requirement scheduled to take effect in less than 16 months could worsen the problem.