Formation Capital and JER Partners have purchased nursing home operator Genesis HealthCare Corporation (GHCI.O). Genesis, the fifth-largest provider of skilled nursing services in the U.S., with an assortment of 220 skilled nursing and assisted living facilities, also offers a range of specialty medical services such as respiratory health services and physician services. Fillmore Capital Partners, LLC, was also a bidder for Genesis. The deal was announced in January, but the joint venture of the two private-equity firms, which led to a $69.35 per-share buyout, was not approved by Genesis's shareholders until May. Shareholders received $69.35 in cash for each share of Genesis' common stock. Formation-JER announced that the total value of the transaction was $2 billion.
Emory ranked among nation's top hospitals
The annual U.S. News & World Report guide to "America's Best Hospitals" has placed Emory University Hospital among America's top medical institutions. Rankings take into consideration factors like mortality ratios, reputations, hospitals' abilities to keep patients alive, other care-related factors like RN-to-bed ratios, and patient/community services. Georgia-based Emory is one of only 173 hospitals chosen, from more than 5,400 medical centers in the U.S., to be named in at least one of the magazine's top 50 specialty rankings. With a total of six top 25 rankings, it ranks among the nation's best hospitals in eight specialties. No other hospital in Georgia shares rankings in the same categories as Emory. Research Triangle Park, NC-based RTI International compiled the 2007 rankings and hospital data for U.S. News & World Report.
Devon Health, Geisinger Health System co-markets convenient in-store healthcare clinics
Devon Health recently signed a strategic alliance with Geisinger Health System to promote its CareWorks in-store retail healthcare clinics. The move is in response to market trends that are shifting more healthcare costs to patients and workers. Devon Health Services, Inc., is a national healthcare cost-management company and is the most widely preferred provider organization (PPO) in the Northeast. One of the biggest rural healthcare providers in the U.S., Geisinger Health System is an integrated physician-led health services organization that serves more than two million residents of central and northeastern Pennsylvania. Geisinger owns and operates three CareWorks clinics in Pennsylvania, and two more clinics are opening this summer. Devon Health, uniting with CareWorks, will market CareWorks to its broad client base in Pennsylvania, providing access to the popular facilities for its clients and members. CareWorks is currently Devon Health's Featured Provider.
