Navigation Links
Formation Capital to Purchase Haven Healthcare
Date:6/12/2008

Genesis HealthCare(SM) to Manage the Facilities

ATLANTA, June 12 /PRNewswire/ -- Formation Capital, LLC today announced it has signed an agreement to purchase Haven Healthcare, a long-term care provider that operates 27 facilities in five northeastern states. Genesis HealthCare will manage and operate the facilities on behalf of Formation Capital and Senior Care Development, LLC. The agreement is subject to pending regulatory and licensing approvals, and other customary conditions. In addition, the agreement is subject to the satisfactory completion of a due diligence period. The agreement is expected to be finalized on August 1, 2008.

Upon closing, Formation Capital and its partners will own or lease skilled nursing and assisted living facilities formerly owned by Haven and located in the states of Connecticut, Massachusetts, New Hampshire, Rhode Island and Vermont.

Genesis HealthCare, a provider of long-term care services in New England for more than 25 years, is expected to assume management and operational responsibilities for Haven Healthcare's facilities effective August 1, 2008.

Genesis HealthCare operates skilled nursing centers and assisted living residences in 13 eastern states and ranks among top providers for overall customer satisfaction and quality medical care according to national independent research. Furthermore, 37 Genesis Centers in New England have earned the Quality Award from the American Health Care Association (AHCA) and the National Center for Assisted Living (NCAL) in recent years, and 19 Centers received the MyInnerView "Excellence in Action" Award, a national award recognizing a commitment to quality.

"The acquisition of the Haven Healthcare facilities complements our portfolio of healthcare companies and our strategy to meet the growing need for skilled nursing services," says Arnold Whitman, Chief Executive Officer and Co-Chairman of Formation Capital, LLC. "Quality of care and services is a hallmark of Genesis HealthCare. We look forward to working with Genesis to expand the healthcare services we provide to New England patients and their family members."

"Genesis has a strong track record of high-quality care throughout our organization," notes Richard Blinn, Genesis' President of the Northeast Area. "We look forward to working with and supporting all of the dedicated staff members of the Haven Healthcare facilities, with a goal of consistently exceeding our customers' expectations," continues Blinn.

Genesis Healthcare operates more than 200 skilled nursing centers and assisted living residences in 13 eastern states. They also supply contract rehabilitation therapy to more than 700 healthcare providers in 20 states and the District of Columbia. For more information, go to http://www.genesishcc.com.

Formation Capital, LLC invests in senior housing and care and currently is invested in over $3 billion of assets. For more information, go to http://www.formationcapital.com.

Contact:

Jeanne Moore

410-451-8440

Patty McQueen

860-985-3533


'/>"/>
SOURCE Genesis HealthCare
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Informational handout key to giving parents a better understanding of CT radiation risks
2. HIV denialists spread misinformation online -- consequences could be deadly; and more
3. One of the Largest Post-WHI Physician Surveys Shows More Education is Needed: Patient Misinformation About Hormone Therapy Remains High
4. Retired NYPD Lieutenants William E. Keegan, Jr., Owen McCaffery and John Moran and Tom Thees, a former COO in the financial industry, announce today the formation of H.E.A.R.T (Healing Emergency Aid Response Team) 911.
5. Justice Department to Hold Media Event to Demonstrate New Database for Matching Unidentified Remains and Missing Persons Information
6. Genaera Announces Formation of Scientific Advisory Board for Obesity Drug Candidate Trodusquemine (MSI-1436)
7. Crystal Research Associates, LLC Issues Executive Informational Overview(R) (EIO(R)) on Tapestry Pharmaceuticals, Inc.
8. MEDEX Global Group & Harvard Medical International Join Forces to Create the Most Comprehensive Health Information Resource for International Travelers
9. Cities Say Restaurant Nutrition Information Crucial in Fighting Obesity
10. Unique role for blood formation gene identified
11. Metropolitan Hosts Informational Meetings in Nassau County
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/26/2017)... ... 26, 2017 , ... On May 24, the Congressional Budget Office (CBO) projected ... on May 4, would result in 23 million Americans losing their health insurance by ... Patient Protection and Affordable Care Act (ACA). , “It is clear from the ...
(Date:5/26/2017)... ... May 26, 2017 , ... Silver Birch of Hammond, a new assisted ... more than four acres of land at 5620 Sohl Avenue in Hammond, serves older ... building includes 125 studio and one-bedroom apartments. Each of the private apartments at Silver ...
(Date:5/26/2017)... ... May 26, 2017 , ... “When the Stars Lead ... is the creation of published author Laura Weigel Douglas, an avid reader who lives ... a house that sometimes feels like Green Hills Adventure Camp. She couldn’t be more ...
(Date:5/26/2017)... ... ... “Just What Happened in the Garden of Eden”: retells the stories of three Bible figures ... of published author, Penelope Colt, mother, trader, horse farmer, artist and a former GM journeyman. ... three. At six, they moved to Dayton, Ohio, where Penny graduated high school. ...
(Date:5/24/2017)... ... 2017 , ... Last month, representatives from Rendina Healthcare Real ... officials to celebrate the grand opening of the 87,000 square foot medical office/ICU ... its ongoing relationship with RWJBarnabas Health, New Jersey’s largest health system. Two years ...
Breaking Medicine News(10 mins):
(Date:5/8/2017)... Mich. , May 8, 2017  Diplomat Pharmacy, ... WRB Communications, Inc. ("WRB"), a health care service ... . WRB specializes in relationship management programs ... WRB will join ... Diplomat,s commercialization support services for manufacturers, biotech firms, and ...
(Date:5/6/2017)... N.Y. , May 5, 2017  Hill-Rom Holdings, ... will add approximately 100,000 square feet to its Welch ... September 2016 its commitment to bring more than 100 ... , where Welch Allyn has maintained a significant presence ... help accommodate these new positions, a large portion of ...
(Date:5/4/2017)... DIEGO , May 4, 2017 ... demonstrating its wireless, handheld ultrasound scanners this week ... Annual Scientific Meeting (ACOG) in San ... "Clarius is the perfect tool ... growth and heart rate, and evaluate pregnancy-related complications ...
Breaking Medicine Technology: