GE Capital Agents $550MM for Genesis Healthcare
GE Capital Healthcare Financial Services announced it acted as administrative agent in a transaction that provided a $550 million revolving line of credit to Genesis Healthcare. GE Capital Markets served as sole bookrunner and lead arranger.
The proceeds of the transaction were used to complete Genesis’ previously announced combination with Skilled Healthcare Group. It also expanded Genesis’ rehabilitation therapy business, Genesis Rehab Services, to more than 1,800 service locations in 47 states and the District of Columbia.
“We are glad to assist Genesis with its combination with Skilled,” said Al Aria, senior managing director of GE Capital, Healthcare Financial Services’ corporate finance team. “In the midst of today’s shifting healthcare landscape, we believe our in-depth knowledge of market dynamics, our ability to underwrite large deals and our willingness to provide flexible structures will continue to be important to this industry. We look forward to continuing to work with Genesis and to many more years of creating mutual value.”