Genesis to Sell 2 Facilities

POSTED BY: Emily Baird
Tuesday, February 2, 2010 - 06:13 PM
Selling 2 Facilities

Genesis Healthcare System is beginning the process to sell two of its long-term healthcare facilities.

Vice President and Chief Financial Officer, Paul Masterson, says it has 15 potential buyers for its Genesis Extended Care & Rehab facility in Zanesville and its Genesis Health & Rehab facility in McConnelsville.

"We are targeting buyers that really have very similar values to Genesis. We're looking at trying to match those values up to make sure we have consistent values and consistent operations of how we've managed those organizations in the past, " says Masterson.

Masterson says patients who attend these facilities shouldn't be worried because they will receive the same care as in the past. He says both care facilities need 8 million dollars in renovations, and Genesis would rather use the resources to develop the services the community really needs.

"They are going to continue to operate as is. They are going to continue to function, and our goal is to make this transition as smooth as possible, " says Masterson.

The idea to sell both facilities has been in the works for about a year. Masterson says money generated from the sales will be used for facility upgrades, information technology enhancements, and patient care equipment.


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