Bankrupt Genesis Health has received court approval to sell its nursing homes to an outside buyer for $1 billion, just over a month after a U.S. bankruptcy judge rejected a previous offer from company insiders. U.S. Bankruptcy Judge Stacey Jernigan approved the sale of the company’s 175 nursing homes to NewGen Health, a California-based healthcare provider, at a court hearing in Dallas, Texas, bankruptcy court. Genesis, which operates 175 skilled nursing facilities and assisted living facilities in 18 U.S. states, filed for bankruptcy on July 9 with more than $2.3 billion in debt.
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Source: https://finance.yahoo.com/news/genesis-health-approved-sell-nursing-000816548.html