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Formation Capital, JER Partners acquire Genesis HealthCare16/07/2007. Source: AltAssets. 
 Formation Capital and JER Partners have completed the acquisition of Genesis HealthCare Corporation. The total enterprise value of the transaction was approximately $2bn, including debt.
According to the terms of the amended merger agreement entered into on 19 May 2007, Genesis' shareholders received $69.35 in cash for each share of common stock. This was up from the $63 per share in an earlier agreement.
Genesis is a provider of skilled nursing services in the US with a portfolio of 220 skilled nursing and assisted living facilities totalling over 26,000 beds located primarily in the Mid-Atlantic and Northeast.
JER Partners is the private equity investment arm of real estate investment management company J.E. Robert Companies.
Formation Capital is a private equity firm focused on the senior housing and long- term care industry.
Copyright © 2007 AltAssets
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