Nursing homes slated for new owner
An Ohio-based company is buying most of the assets of nursing home operator Genesis HealthCare, which owns 11 facilities in Maine.
Health Care REIT Inc. announced yesterday it will buy all of Genesis' real estate assets in the Northeast and Mid-Atlantic for $2.4 billion, according to The Associated Press. Those assets include 147 post-acute care, rehabilitation, assisted living and long-term care facilities in 11 states. In Maine, Genesis owns facilities in southern, coastal, eastern and central Maine, including Pine Point Center in Sacrborough, Marshwood Center in Lewiston, Cedar Ridge Center in Skowhegan and Orono Commons. Genesis, based in Kennett Square, Pa., will continue to operate the facilities, according to The AP.
Health Care REIT chairman, president and CEO George Chapman said Genesis' facilities are expected to continue to grow and fit in well with the company's other assets. Should the deal be finalized, Health Care REIT would own 880 properties with a value of $13 billion.
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