Genesis Healthcare Announces Effective Date of Chapter 11 Plan Following Consummation of Sale to West State Street
KENNETT SQUARE, Pa., October 24, 2026--Genesis Healthcare, Inc. ("Genesis") today announced that its chapter 11 plan became effective, following the closing of the sale of substantially all of its operating assets to 101 W. State Street, LLC ("West State Street") on October 14, 2026.
On behalf of the Board of Directors, the Company thanks its management team, its employees and staff for their focus and dedication throughout the chapter 11 process. Despite a long and complex case, the Company's financial and quality of care metrics continued to improve substantially.
"The employees and staff were the heart of this Genesis organization. Throughout this complex bankruptcy case, they stayed focused on the people in their care, kept operations strong, and continued the operational turnaround that remained Genesis' focus prior to, and during, the bankruptcy process," said David Harrington, outgoing Chairman of the Board. "On behalf of the Board, I thank them for their commitment and hard work. We wish West State Street every success as it carries these operations into the future."
Advisors
McDermott Will & Schulte served as legal counsel, Ankura Consulting provided financial restructuring and Chief Restructuring Officer services (Russell A. Perry and Louis E. Robichaux IV, Co-CROs), and Jefferies served as exclusive investment banker.
ABOUT GENESIS HEALTHCARE, INC.
Genesis HealthCare, Inc. is a holding company with affiliates that previously operated skilled nursing facilities and assisted/senior living communities. Its subsidiaries also specialized in contract rehabilitation therapy, respiratory therapy, physician services, and accountable care.
View source version on businesswire.com: https://www.businesswire.com/news/home/20261023067917/en/
Contacts
MEDIA CONTACT
[email protected]