JER Partners
Formation Capital and JER Partners Acquire Genesis HealthCare
Published in Physician Business Week, July 31st, 2007
Formation Capital and JER Partners announced they have completed the acquisition of Genesis HealthCare Corporation ("Genesis", previously NASDAQ: GHCI). The total enterprise value of the transaction was approximately $2.0 billion. Pursuant to the terms of amended merger agreement entered into on May 19, 2007, Genesis' shareholders received $69.35 in cash for each share of Genesis' common stock that they held.
"The Genesis portfolio represents a tremendous opportunity for JER and Formation to acquire a quality portfolio of skilled nursing facilities and assisted living residences and to serve the growing demand of elderly Americans for medical and long term care," stated...
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