Lawmakers have sent a letter to Genesis HealthCare’s leadership, accusing its private equity investors of “looting” and contributing to the company’s Chapter 11 bankruptcy filing over the summer. Genesis, one of the largest skilled nursing providers in the U.S., operates nearly 200 nursing and senior living facilities and over 1,400 rehab centers, filed for bankruptcy in July. Signed by Senators Elizabeth Warren, Peter Welch, Richard Blumenthal, and Congresswoman Maggie Goodlander, the letter alleges that Genesis’ financial collapse stems from years of private equity extraction, beginning with JER Partners’ 2007 purchase, which included sale-leaseback deals that left Genesis saddled with high rents and long-term debt.
Read the full article: ‘Private Equity Looting’: Lawmakers Dig Deeper into Nursing Home Giant Genesis’ Bankruptcy //
Source: https://skillednursingnews.com/2025/10/private-equity-looting-lawmakers-dig-deeper-into-nursing-home-giant-genesis-bankruptcy/