Daily News | Genesis Healthcare, after years of shrinking, is adding nursing homes again in Pennsylvania
As part of the effort to distance itself from Genesis, less than two years ago Welltower brought in ProMedica to manage nine Genesis PowerBack facilities, including six in the Philadelphia area. Genesisas a brand that was more focused in short-term rehabilitation that most nursing facilities.
During Genesis’ latest run as a publicly traded company from 2015 into early 2021, the company shrank by nearly a third, as Welltower and other landlords sold some nursing homes and turned facilities over to other operators, hoping they could turn a profit and keep up with ever-rising rents.of Genesis nursing homes hit New Jersey and Pennsylvania particularly hard.
The three ProMedica sites in Pennsylvania that Genesis is not getting are going to Tryko Partners, a Brick, N.J., company. Those sites are in Allentown, Easton, and Yardley, a spokesperson said.
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