Money Makers Mentor

Genesis Tops List of Struggling Senior Healthcare Operators

Retail stores and restaurant chains aren’t the only businesses affected by the pandemic. Senior healthcare facilities have struggled for months now, ravaged both medically and financially by COVID-19. In fact, many run the risk of closing within the next year.

At the top of the list of affected companies is Genesis Healthcare, Inc. (NYSE: GEN), one of the nation’s largest skilled nursing facility operators.

In its second quarter, Genesis reported a loss of $67 million. So far this year, the company has reported $74 million in losses, due in large part to COVID-19.

“The virus is having a significant adverse impact on the Company’s revenues and expenses, particularly given the Company’s concentration in hard-hit Mid-Atlantic and Northeastern states,” said Chief Executive Officer G…

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