Genesis HealthCare announced that an insider bid had won an auction for all its assets. CPE 88988 LLC, an affiliate of Genesis owner Pima Capital Partners, submitting the winning bid, according to a news report. The bid was for $40 million in cash as well as an agreement to take on certain debts and bankruptcy expenses from Genesis. The total amount could reach more than $120 million according to the court documents filed in Texas. While CPE 88988 LLC submitted the winning bid, the auction still has to be approved at a planned Dec. 10 hearing. Reports indicate that Genesis’ court-appointed creditors committee may oppose the sale.
Read the full article: Genesis HealthCare Insider Bid Wins Bankruptcy Auction in ‘Stalking Horse’ Offer //
Source: https://skillednursingnews.com/2025/12/genesis-healthcare-insider-bid-wins-bankruptcy-auction-in-stalking-horse-offer/