Genesis HealthCare Expects to Make Announcement Regarding Merger Agreement with Formation Capital and JER Partners
April 19 2007 - 9:48AM
Business Wire
Genesis HealthCare Corporation (the �Company�) (NASDAQ: GHCI) said
today that it expects to make an announcement later this morning
regarding its merger agreement with affiliates of Formation Capital
and JER Partners, and the shareholder vote on the proposed
transaction. The Company�s annual meeting is scheduled to take
place at 11:00 a.m. EDT today. About Genesis HealthCare Corporation
Genesis HealthCare Corporation (NASDAQ: GHCI) is one of the
nation's largest long-term care providers with over 200 skilled
nursing centers and assisted living residences in 13 eastern
states. Genesis also supplies contract rehabilitation therapy to
over 600 healthcare providers in 20 states and the District of
Columbia. About Formation and JER Formation Capital is a private
equity firm in the senior housing and long-term care industry. Over
the past five years Formation Capital has completed over $1.5
billion of acquisitions in the sector and provides asset management
services to over 250 facilities nationwide. For more information on
Formation Capital, please visit www.formationcapital.com. JER
Partners is the private equity investment arm of J.E. Robert
Companies, a real estate investment management company with more
than 25 years of experience in sourcing, underwriting and managing
a broad spectrum of real estate equity investments and debt
products in North America and Europe. JER has completed over $1.1
billion of acquisitions in the senior housing sector. JER�s primary
investments are in office, hospitality, retail, multi-family,
healthcare-related real estate and industrial properties. Other
areas of investment include commercial mortgage-backed securities
(�CMBS�) and mezzanine financing. For more information on JER,
please visit www.jer.com. Forward-Looking Statements A number of
the matters discussed in this document that are not historical or
current facts deal with potential future circumstances and
developments, in particular, information regarding the expected
timetable for completing the transaction, successful integration of
the business, benefits of the transaction and any other statements
contained in this news release that are not purely historical fact
are forward-looking statements. The discussion of such matters is
qualified by the inherent risks and uncertainties surrounding
future expectations generally, and also may materially differ from
actual future experience involving any one or more of such matters.
Such forward-looking statements involve risks and uncertainties
that could cause actual results to differ materially from those
projected. Such risks and uncertainties include, but are not
limited to, the approval of the proposed merger by regulatory
agencies, approval of the merger by the shareholders of GHC,
satisfaction of various other conditions to the closing of the
merger contemplated by the merger agreement and the risks that have
been described from time to time in GHC�s reports filed with the
Securities and Exchange Commission (�SEC�), including its
definitive proxy statement in connection with the 2007 annual
meeting of shareholders and its annual report on Form 10-K for the
fiscal year ended September 30, 2006. This document speaks only as
of its date, and each of GHC, JER and Formation disclaims any duty
to update the information herein. Additional Information and Where
to Find It: On March 7, 2007, GHC filed with the SEC, and
thereafter furnished to shareholders, a definitive proxy statement
in connection with its 2007 annual meeting of shareholders. Since
March 7, GHC has filed additional proxy soliciting materials, and
GHC intends to furnish shareholders with a proxy supplement
relating to the amendment of the merger agreement. Investors and
security holders are urged to read the proxy statement, supplement
and other documents filed or to be filed by GHC because they
contain (or will contain when available) important information
about the proposed merger. Investors and security holders may
obtain a free copy of the proxy statement and other documents filed
by GHC (when available) at the SEC website at http://www.sec.gov.
The proxy statement, supplement and other documents also may be
obtained for free from GHC by directing such request to Genesis
HealthCare Corporation, Investor Relations, 101 East State Street,
Kennett Square, PA 19348; telephone: 610-925-2000. Participants in
the Solicitation GHC and its directors, executive officers and
other members of its management and employees may be deemed
participants in the solicitation of proxies from its stockholders
in connection with the proposed merger and GHC�s scheduled 2007
annual meeting. Information regarding the persons who may, under
the rules of the SEC, be considered participants in the
solicitation of proxies from GHC shareholders is set forth in GHC�s
proxy statement filed on March 7, 2007 and in its proxy statements
and Annual Reports on Form 10-K previously filed with the SEC.
Genesis Healthcare (NASDAQ:GHCI)
Historical Stock Chart
From Apr 2024 to May 2024
Genesis Healthcare (NASDAQ:GHCI)
Historical Stock Chart
From May 2023 to May 2024